Stop Foreclosure - Indianapolis

How to Stop Foreclosure

If you are in a bind and unable to make your mortgage payments, you may be in danger of foreclosure.

• Sell Your Home.
  You can sell your home to an investor or regular home buyer. Selling your home will eliminate your financial problems and take away your responsibility for making the mortgage payments.
  
  

• Consider a Short Sale.
  A short sale is a good option if you owe more on your home than it is worth. The short sale may negatively impact your credit, but it won't be as bad as a foreclosure. You can also negotiate to get your lender to cooperate on the short sale, a process considered "pre-foreclosure redeemed."
  
  

• Sign a Deed-in-Lieu of Foreclosure
  A Deed-in-Lieu of Foreclosure is when you deed the home back to the lender. This process occurs when the homeowner gives the lender a properly prepared and notarized deed, and the lender forgives the mortgage, effectively canceling the foreclosure action. The Deed-in-Lieu of Foreclosure is akin to "voluntary repossession" of a car and will affect your credit the same as a regular foreclosure.

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