The Trusted Home Buyer Logo602-456-4440

How to Avoid Foreclosure in Phoenix

Martin Boonzaayer

December 4, 2019

While the housing market is rebounding, many people in Phoenix] are still struggling to make their mortgage payments.

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

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

So lets dive in on a couple quick tips on possibly how to avoid foreclosure in Phoenix with your home.

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

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

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

This can 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 home 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 your 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 Phoenix 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.

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

Give us a call anytime at 866-488-9923 or
fill out the form on this website today! >>

Explore more

October 10, 2021
Buy For You

If you would like to buy a house (or have a client who does) and struggle to get your contingent or financed offer accepted, make a cash offer instead!  Once your offer is accepted, The Trusted Home Buyer will buy it for you with our cash, and you can move in immediately. Imagine a stress-free […]

Read More
October 10, 2021
Short-Term Lending

We offer short-term lending options to help property owners bridge temporary financial gaps. There is no restriction on how the funds are to be used. Short-Term Lending Examples: Fix up a property so you can sell for top dollar Get down payment funds for your new home Move-in funds to help Mom (or Dad) transition […]

Read More
October 1, 2021
Work Together

We love working with real estate agents to help support their client's needs with short-term lending options and our new We Buy for You program. These programs will support your clients best interest while also ensuring that you are still able to work with them even if they are struggling to get approved for a […]

Read More
July 30, 2021
How to Sell Your House Webinar With Martin Boonzaayer
Read More
The Trusted Home Buyer Logo
Copyright © The Trusted Home Buyer
WE BUY HOUSES IN:

4.7 61 reviews