Are you facing foreclosure in Frederick? You’re probably wondering what options are available to you that could help you get out of this situation. The more time you have, the more options you have available to you. But even when there’s very little time left, there are still solutions available. Grays Home Solutions is one of them. But first, let’s talk about all of the options you have when facing foreclosure in Frederick.
4 Ways to Avoid Foreclosure in Frederick
Short sales are the first things most people think of as a strategy to avoid foreclosure. If you have a lot of time on your hands, then a short sale might work. The thing about short sales is that they’re not actually as short as the name would have you believe. A short sale can still take several months to go through, if it goes through at all. You can learn more about some of the problems with short sales in our blog, including deficiency judgments.
Refinancing is another strategy homeowners who are facing foreclosure use. Refinancing can be a success, but only if you’re dedicated to making your payments on time. It may be hard enough to even find a lender who will refinance your home, considering you’re most likely already behind on the payments on your first mortgage. If you do get a second mortgage, it’s not hard to find yourself right back where you were in a short period of time if you don’t keep up with your payments. Learn more about refinancing in our blog.
When you file for bankruptcy, an automatic stay is put on the foreclosure. This means the lender can’t continue any collection activities for the time being. However, the lender can file for a motion for relief from stay if you haven’t been making your mortgage payments, or if you stop making payments when you file for foreclosure. Even if they don’t do this, they can still continue the foreclosure after the bankruptcy is complete. Bankruptcy is a risky approach when it comes to putting a stop to foreclosure.
Sell Your Home With Grays Home Solutions
Another option for stopping foreclosure in Frederick is to sell your home with Grays Home Solutions. We’re a home buyer working in Frederick and throughout Maryland and the Tri-state area. What are some good things about working with us?
- We’ll make an offer no matter where your home is, what condition it’s in, or how much you owe.
- We buy within 7 days once you accept our offer. So even if your foreclosure date is coming up fast, you can still use us as a solution.
- You won’t need to do any repairs on your home.
- We may be able to pay you in cash.
Interested in learning more? Use our fast response contact form or call us at 240-347-3141. We’re a free service and we’re here to help.