If you’ve missed even one mortgage payment, time is of the essence. The foreclosure process in many states moves quickly. Here are some options:
1. Home Affordable Mortgage Program. The very first thing you should do is check if you qualify for HAMP, the federal government offers borrowers with loans insured by Fannie Mae or Freddie Mac the opportunity to refinance into lower interest rate loans.
2. Short sale. A short sale is when you sell a home for less than what is owed on the mortgage. While not as damaging to your credit report as a foreclosure, your credit score will take a hit nonetheless.
3. Deed in lieu of foreclosure. Basically, you’re handling over the keys to the lender in lieu of actually going through the foreclosure process. The lender then sells the property to recoup a part or all of the loan balance.
4. Call your lender. The bottom line: if you’re struggling to make your monthly mortgage payment, or you’ve missed a payment, make a call to your lender.
We can buy your house fast in Texas! Markette Properties presents an unique, simple approach for selling your home! We are real estate investors. We buy houses in Texas just like yours! We are dedicated to the highest professional real estate standards for all of our clients.
Do you want to sell your house fast in Texas for top dollar with the least hassle? Give us a call! (210) 853-2788 or click the button below.