January 21st, 2010 - By
Renegotiate a lower payment, or lower interest rate that would lower the payment.
Try to defer a couple payments (some lenders allow this)
Find a private lender (someone that has enough money to buy out the mortgage and then you just pay them back under whatever terms they set up with you)
Get a part time job to help make payments
Get someone to rent your basement or a room or suite (this would still be your principal residence, you’ve just got a ‘roommate’ now as well).
Create a budget and really analyze where you money is going and ways to free up cashflow.
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Tags: Avoid, Avoid Foreclosure, Budget, Foreclosure, Home, Interest Rate, Job Help, Lenders, Losing, Money, Mortgage, Part Time Job, Principal Residence, Private Lender, Rent, Roommate
Posted in Avoid Foreclosure | 6 Comments »
December 10th, 2009 - By
Your mortgage company does not want to foreclose on your home. Call them and tell them your problem. (Are you looking for a new job or health problem?) They may be able to add your missed payments on to the back end of your note, or help you arrange a “short sale” or anyone of dozens of ideas.
They will be upset that you are not making your payments and may suggest some bad ideas (like making your payment using your credit card). But do talk with them if you are wanting to avoid foreclosure.
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Tags: Avoid, Avoid Foreclosure, Credit Card, Dozens, Foreclosure, Foreclosure Help, Health Problem, Help, Home, Home Foreclosure, Looking For A New Job, Losing, Mortgage Company
Posted in Avoid Foreclosure | 6 Comments »