How to Avoid Foreclosure in Asheville

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

If you’re underwater on your house, or having trouble keeping up with your monthly mortgage payments, you could be fearful that your loan provider is going to foreclose.

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

So let’s dive in on a couple quick tips on how to avoid foreclosure in Asheville, NC.

The Keys of How To Avoid Foreclosure in Asheville Don’t Abandon Ship

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

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

This can be a 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 house 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 you 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 Asheville are struggling. If you haven’t missed a house payment yet, you might have some leverage to renegotiate the terms of your loan. Banks don’t like foreclosing on houses, 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 up to date 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. Residents all over Asheville 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 house.

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

Give us a call anytime at (828) 949-1538 or
fill out the form on this website today! >>

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