Your Options
I know going through foreclosure can be overwhelming, and most people aren’t told all the options available before it’s too late. My goal isn’t to pressure you—just to help you understand what’s still on the table so you can make the best decision for your situation. Here are a few potential solutions you may still have:
Steps To Consider
🔁 1. Reinstatement of the Loan
Pay the past-due amount, late fees, and legal costs to bring the loan current and stop foreclosure.
📄 2. Loan Modification
Negotiate new terms with the lender (lower payments, extended term, or added missed payments to the end of the loan).
🏦 3. Repayment Plan
Set up a structured plan with your lender to catch up on missed payments gradually over time.
💼 4. Forbearance Agreement
Temporarily pause or reduce mortgage payments during financial hardship, with a plan to repay later.
🏚️ 5. Sell the Property (Traditional Sale or Cash Buyer)
sell before auction to pay off the mortgage and walk away with remaining proceeds.
🏛️ 8. Bankruptcy (Chapter 13 or Chapter 7)
Can stop or delay foreclosure and allow time to reorganize finances or discharge unsecured debts.