There are ways to stop foreclosure fast. You dont need to wait for a long, drawn out solution. Oftentimes, that only leads to you losing your home and having a bad mark on your credit. Instead, you can work with your bank or an investor to stop foreclosure fast.
The first, and easiest way to stop foreclosure fast is to find an investor who is willing to pay off the existing debt on your home. Unfortunately, most investors see the glutted home market and think they can find bargains for less than the amount people owe.
That is where the short sale investor comes into the picture. He or she works with you to deal with the bank to stop foreclosure fast. A short sale is a three way deal where everyone gets something out of the bargain. The bank waives some of the principal giving the investor instant equity in the home. You walk away from a mortgage payment that you just cant make any longer. The investor gets a deal on the property. The bank gets rid of an underperforming loan. And, you get out of the foreclosure mess youre in.
A similar option is to work with the bank directly without an investor. This is called a Deed in Lieu of Foreclosure. The bank takes...
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