You never thought that you would be at risk of losing your home. While you and your spouse have experienced your fair share of financial difficulties, nothing as drastic as this has ever come your way. You live in constant fear that the bank is going to seize your property any day and you know in your heart that you can no longer afford the mortgage. So how do you stop foreclosure Pittsburgh?
Step 1: Do not ignore the notices
One of the worst things you can do when your mortgage is in trouble is cut the line of communication between yourself and the bank. Your willingness to give a representative updates on your financial status tells them that you are not trying to shriek your responsibilities. On the other hand, your unwillingness to call and inform the bank of your ability, or inability, to pay signifies a lack of care and possible attempt to breach the agreement. It is, therefore, essential to stay in contact with the bank and never ignore notices.
Step 2: Search out resources
Perhaps you can stop foreclosure Pittsburgh by simply looking into your assets. Take a look at your portfolio and determine whether the past due amount can be taken from there. In addition, you may be able to modify or refinance your loan for lower payments, or borrow from family members and close friends. Perhaps you can work out a repayment plan that will provide the financial relief needed to keep your home.
Step 3: Consider a short sale
When all else fails, consider selling. While the aim is to keep your home, it is better to maintain a fair credit score through a short sale, if you can no longer stay current with your payments, than have poor credit for the next seven years as a result of doing nothing.
Caymus Realty Solutions specializes in short sales. The difference in our process is that we pay cash for your home so you can avoid the red tape that traditional sales often entail. We evaluate your home and offer top dollar based on the condition of the residence. The best thing about our process is that we do not discriminate. We accept your fixer uppers in nearly any condition. Call us when you want to stop foreclosure Pittsburgh.