What are my options if I'm facing foreclosure?

Foreclosure is a process with a timeline, and there are almost always options available before it completes — but those options shrink as time passes. A Home Transition Review helps you understand exactly what is available right now.

Foreclosure is not a single event. It is a legal process that takes weeks to months, and at nearly every stage there are options a family can still exercise. The most important thing is acting before those windows close.

Options that may still be available

• Loan modification. Your lender may agree to restructure the loan — extending the term, reducing the rate, or adding missed payments to the back end. This keeps you in the home and stops the foreclosure.
• Forbearance agreement. Lenders can temporarily pause or reduce payments. This buys time but not forgiveness — the missed amounts must eventually be repaid.
• Short sale. If you owe more than the home is worth, a short sale lets you sell with lender approval for less than the balance. The lender may forgive the deficiency or pursue it, depending on your state and agreement.
• Deed in lieu of foreclosure. You hand the property back to the lender voluntarily. Less damaging than a full foreclosure on your credit record, and faster.
• Sell before foreclosure completes. If there is equity, selling — even quickly — can let you recover that equity and avoid the full credit damage of a completed foreclosure.
• Bankruptcy. An automatic stay stops foreclosure immediately. Talk to a bankruptcy attorney to understand if this is the right path.

Which option is available depends on how far along the foreclosure is, your loan type, your lender, and your state's laws. A Home Transition Review is not legal advice — but we will give you an honest map of what we see available to you and connect you with the right professionals if another path is better for your family.