There may be many alternatives to save you from foreclosure. Don't just give up and let the bank take your property back. With all the foreclosures in todays market the banks would prefer to try and work something out versus them taking the property back, as they are not in the business of owning alot of real estate. Foreclosing on a home, holding it in inventory and the selling it, especially in a soft market is very costly. If the they can work something with you, then it can potentially save them thousands of dollars.
Is your financial hardship due to an illness, loss of job, death, job change/transfer, house payments adjusting upward due to an adjustible rate loan, divorce or other hardship? You may be eligible for a short sale, short refi, renegotiation of loan terms or other options available, depending on your situation and the lender you are working with. A short sale will can help to preserve your credit versus a foreclosure that willl stay with you for years and really lower your credit rating. Don't just give up, the banks are working with sellers now, more than ever.
Call me today for a free confidential meeting to evaluate your situation and determine your possible options. I cannot guarantee the results, but I am willing to work with you to help you find a resolution and help you work with the banks. Brian Tienken, Principal Broker 503 495-5548 RE/MAX equity group inc