Sunday, April 17, 2011

Avoiding Foreclosure

If you, among many others, failed to make monthly mortgage payments and are now facing a possibility of being kicked out of your home, there are still many things you can do to keep your house. LOAN MODIFICATION: although a very difficult and time consumming process, filing for a loan modification can definetely improve your chances for staying in your home. if you are approved for a loan modification, the bank will dismiss the foreclosure proceedure against you in Court and give you a second chance at making it work. BANKRUPTCY: Chapter 13 can help you keep your home, even after a judgment of foreclosure has been entered against you in court. Chapter 13 is a difficult legal process and should be done with an assistance of a knowledgeable bankruptcy attorney. SHORT SALE: will not help you keep your home, but will steer you away from foreclosure. I am short on time, but will attempt to describe each one in detail soon. Good luck