Whether you are trying to keep your home and stop foreclosure; pursuing a short sale as a means to avoid foreclosure; offering a deed in lieu so you can bail on an underwater mortgage and get on with your life and your financial future - you will find many resources on this website.
First you will want to determine if your home is worth keeping from a pure financial perspective. Next you will want to consider the different programs that have been created to help you modify your existing loan and get your monthly mortgage down to something affordable. There are loss mitigation documents to prepare for submission, free HUD housing counseling, government sponsored plans you may qualify for (HAMP, HARP 2.0), legal resources available. You can check out this online community where people have shared their experiences - what they have done, and are doing, to make and implement good choices about dealing with foreclosure
Useful resources
- Snag a great foreclosure deal to make the most of your money
Know how to grab a great foreclosure deal. - 5 Tips to help you find a rental apartment post foreclosure
Find out how you can get a rental appartment post foreclosure. - 5 Tips that can make foreclosure less stressful for you
Check out the tips to make foreclosure less stressful for you.