While the housing market is rebounding, many homeowners in Casa Grande, Arizona are still struggling to make their mortgage payments and want to avoid foreclosure.
If you’re underwater on your home mortgage, or having trouble keeping up with your monthly mortgage payments, you could be fearful that your mortgage provider is going to foreclose. Lean how you can avoid foreclosure in Casa Grande, Arizona.
The good thing is… there are a number of ways to avoid foreclosure in Casa Grande. It’s important to remember that moving quickly is absolutely paramount, and could save your credit rating and your Arizona home.
So lets dive into a couple quick tips on how to avoid foreclosure in Casa Grande with your Arizona home.
The Keys To Avoiding Foreclosure in Casa Grande, Arizona
Many people choose to give up and walk away from their home. It may be that their situations cannot be helped that there are even areas of Casa Grande that have begun to resemble ghost towns, as the economy has impacted residents significantly.
What happened in Detroit is an excellent example of what can happen when people abandon their homes.
Facing foreclosure can definitely 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 new home for years to come. If you end up selling your home, there is a chance that you could leave a portion of the loan unpaid, and the local Casa Grande lender could pursue legal action in Arizona against your for that 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 Casa Grande 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. Banks and lenders don’t really want to take your home, they just want to be sure that they can get their funds back.
• 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 to refinance an adjustable rate mortgage into a low-interest, fixed rate loan. Both of these programs are subject to eligibility requirements but can be beneficial to you.
These keys to avoiding foreclosure will be very helpful when you’re not yet behind on your mortgage payment. How about if you’re already on pre-foreclosure? Take a breath and know that there are still options for you to avoid foreclosure when you’re already on pre-foreclosure in Arizona.
We understand that the possibility of losing your home can be stressful. You aren’t alone. Citizens all over Arizona 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 have put together some FREE foreclosure resources that can help you too.
We may be able to help you avoid foreclosure in Arizona. Connect with us today and let’s discuss your situation. We don’t charge any fees. We’ll evaluate your situation and present you with your options so you can move forward and avoid foreclosure.