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How to Avoid Foreclosure in Virginia

While the housing market is rebounding, many people in Virginia are still struggling to make their mortgage payments.

If you’re underwater on your home, or having trouble keeping up with your monthly mortgage payments, you could be fearful that your mortgage provider is going to foreclose. Here’s a quick tip on how to avoid foreclosure in Virginia!

Are you currently facing a difficult financial situation where you are unable to keep up with your monthly mortgage payments or find yourself underwater on your home’s value? If so, you might be feeling anxious and worried about the possibility of your mortgage provider foreclosing on your property.

Thankfully, there are a number of things that you can do to avoid foreclosure in Virginia. It’s important to remember that moving quickly is absolutely paramount, and could save your credit rating and your home.

So lets dive in on a couple quick tips on possibly how to avoid foreclosure in Virginia with your home.

The Key To Avoid Foreclosure in Virginia is to Not Abandon the Ship!

Many people simply give up and walk away from their home. There are even areas of Virginia have begun to resemble ghost towns, as the economy has impacted residents significantly.

Detroit is a prime example of what can happen when people abandon their homes.

This can be stressful situation, but it’s extremely important to keep your wits about you. A foreclosure will have a huge negative impact on your credit score, and likely prevent you from purchasing a home for years to come. If you sell your home, you could leave a portion of the loan unpaid, and the lender could pursue legal action against your for the unpaid portion.

While it’s extremely stressful, you do have options:

Negotiate with your mortgage lender. Banks and other financial institutions are well aware that citizens of Virginia are struggling. If you haven’t missed a payment yet, you may have some leverage to renegotiate the terms of your loan. Banks don’t like foreclosing on homes, and many will work with you if you aren’t too far behind. You may be offered forbearance, or even a full loan modification.

Ask for help from Uncle Sam. Over the last five years, the federal government has implemented a number of programs to help struggling homeowners. The Home Affordable Modification Program (HAMP) allows struggling homeowners to modify their loans, reducing monthly payments. The Home Affordable Refinance Program allows homeowners who are current on their mortgage payments refinance an adjustable rate mortgage into a low-interest, fixed rate loan. Both of these programs are subject to eligibility requirements.

We understand that the possibility of losing your home can be stressful. You aren’t alone. Citizens all over Virginia are going through the same troubles. Foreclosure can have a lasting effect on your financial life, and it’s important to move quickly and take advantage of any options available. You could save both your credit rating and remain in your home.

We recognize the immense stress and worry that can accompany the prospect of losing one’s home. It’s a challenging and trying time, and it can often feel like you’re the only one going through it. However, many citizens throughout Virginia are facing similar difficulties. Acting quickly and exploring all options is crucial when facing foreclosure. “It can greatly affect your financial stability in the long run.” By doing so, you may be able to protect your credit score and retain ownership of your home.

We may be able to help you avoid foreclosure… connect with us today and lets discuss your situation. We don’t charge any fees… we’ll evaluate your situation… and present you your options so you can move forward and get this foreclosure behind you.

Call us now at 885-918-4010 or fill out the form below for fast and fair cash offer!

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