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Showing posts with the label Repayment Options

Alternatives to Losing your Home to Foreclosure...

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If you have mortgaged your home and are unable to make the payments because of the housing market crash, the loss of your job or insufficient funds , then you must be worried about foreclosure . You may be receiving grave phone calls or visits to your home by people from the mortgage company who offer information and advice about what you should do. This is bad and often detrimental to your credit score . You could very well lose your property without making a profit . Trying to ignore the problem or letting others make decisions for you is not a wise move. It is best to study all the options available and make a decision yourself . There are quite a few options available . Bankruptcy must be your last option , as it drastically harms credit score ratings, and a bad credit score will adversely affect your chances of getting loans in the future and possibly jobs. There is however a temporary stay on the foreclosure process. Outright Sale If you have close family or