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Foreclosure Tips |
Foreclosure Warnings
Foreclosure! Ten Ways to Save Your Home
Consider Selling Your Home
It's a good idea to contact a real estate listing agent
 early on in the process to at least find out how much you can get for your
home and how quickly. You're not obligated to sell, but if you decide that
selling is the best option, you'll have a head start.
While selling your
home may not be an attractive option, it's better than having a foreclosure
on your record, and if you have substantial equity in the home you may be
able to come out of the deal with some money. Perhaps you just have more
home than you can afford and after selling you can then buy a home that is
within your budget.
What's
Your Home Worth?
You can check with the
local tax office to see what value they have placed on your home but for a
more objective estimate you can use a free online tool that estimates the
true value of your home based on sales value other homes in your
neighborhood
Click here for a free online appraisal.
If the amount for which you can sell your house isn't enough
to cover the balance of your loan, the lender may agree to accept a reduced
amount in a "short payoff" or "pre-foreclosure sale." You may also be able
to receive some of the money to help with your moving costs or to pay off
other lien holders.
A buyer may be able to assume your loan (take over your
payments) in order to buy your house. This can help you sell your house very
quickly, and it may be an option even if your mortgage contract says it is
non-assumable. Contact a housing counselor, real estate agent, or real estate attorney
to see if this situation might work for you.
HomeGain
 offers a free service that allows you
to let local real estate agents know about the home you'd
like to sell so they can address your specific needs AND compete for your
business.
REALTORS® from local brand-name brokerages send you
customized proposals. You can compare backgrounds, commission rates, and
more. Best of all the agents do not see your contact information so there is
no obligation, no pressure. They will send you
customized responses including their credentials, business
experience, and commission rates to compete for your business so you decide
which one to contact.
Find the best value agent in your neighborhood, compare fees, experience and background, anonymously.
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Foreclosure Tips |
Foreclosure Warnings |
Learn more about the Hope for
Homeowner's Act
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