Losing my house due to foreclosure what is my best option?
I tried to sell it but couldn’t. I got my advice on here that bankruptcy is better than foreclosure. Now my question is:
1. Knowing that I’m losing my house soon should I continue paying for it (we were 5 mos. behind and have been paying late fee), or should we save the money for a new place to rent.
2. What is my time frame on filing a bankruptcy? Should I do it now or wait until I get some sort of notice for the foreclosure?
Thanks
Tagged with: bankruptcy • Foreclosure • money • time frame
Filed under: Foreclosure Options
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The first thing is do you want to stay in your house?
If so than bankruptcy is not the answer the best thing to do is to try to get a loan modification done.
There are credit counselors that will help you to get a modification on your loan payment or interest rate. depending on what you want done. A loan modification can take up to a month or three depending on your case but your allowed to stay in your home while the loan modification is being done and your house wont go into foreclosure.
If need more information on getting a loan modification done you can email me and i can refer you to a credit counselor who helped my grandparents keep there home.
good luck