How Do I Avoid Foreclosure Being in a Payment Plan Already?
May 29th, 2009 by Unregistered User
I have a problem and I need to see if someone can help me or at least has the answer or know where to get the information. This is my situation. In August, I moved out of my house. I moved to another state to be with my mom since she has health problems.
The problem to is that I am already in a payment program with the mortgage company for my house so that my mortgage won’t get behind. I have no equity in the house because I had only been in it a year and I have no money to add for resale. I don’t want the house to go into foreclosure because this will destroy my credit and I will not be able to borrow again (so people told me) so does anyone else know something that can be done? Please?
Tags used on this review:avoid foreclosure,Foreclosure,foreclosures,mortgage company,moved out,no equity,payment plan,payment programRelated posts
Tags: avoid foreclosure, Foreclosure, foreclosures, mortgage company, moved out, no equity, payment plan, payment program
Print Post
Posted in
It really stinks to have a rental far away from where you live… but the only option I see is to rent it out… or get a private loan to pay down the mortgage and get it sold. But in this economy I do not know how well that solution is. I for one have been trying to sell my property for months and have not found a buyer yet.
Do you think you could rent it out to cover most (if not all) of the mortgage payment?
Make sure there is no stupid clause in your mortgage paperwork that says you cant rent it as well.