For more information about foreclosure vs. short sale Click Here CERTIFIED DISTRESSED PROPERTY EXPERT® FORECLOSURE What It Really Means & How to Avoid It 9 Ways to Avoid Foreclosure: REINSTATEMENT: Bring the loan current FOREBEARANCE: Temporary repayment plan REFINANCE: New loan with reduction in monthly payments LOAN MODIFICATION: Modify original loan terms SELL THE PROPERTY: Use equity to payoff or pay difference RENT THE PROPERTY: Must make loan current SHORT SALE: Negotiate with bank to accept sale under loan amount DEED IN LIEU OF FORECLOSURE: “friendly foreclosure” BANKRUPTCY: Will stall foreclosure but not prevent For more information about foreclosure vs. short sale or any of these other possibilities
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