What It Means

You pay all your missed payments and fees at once to bring your loan current. After that, your mortgage continues like normal.

How It Works

1.) Call your lender and ask for a “reinstatement quote.”

2.) They tell you the total amount you owe, including late fees and costs.

3.) You pay that full amount, usually by cashier’s check or wire.

4.) Once they get the payment, the foreclosure is stopped.

Timeline

Usually takes a few days to process, and it can be done up until right before the auction date in many states.

Costs

The cost depends on how many payments you missed and what your lender charges.

Example:

6 missed payments at $1,500 = $9,000

Fees and legal costs = $2,000–$4,000

Total: $11,000–$15,000 or more

Why It’s Different for Everyone

Every homeowner’s number is different because it depends on the loan size, how long they’ve been behind, and what extra fees the lender adds. Someone behind for 3 months might owe $6,000–$8,000, while another 10 months behind could owe $20,000 or more.

Good Things

- Stops foreclosure right away.

- You keep your home.

- No new loan or paperwork.

Bottom Line

This works best if your money problem is short-term and you can pay everything you owe at once.

Want to know more about this option?

We aren’t your lender, but we can share what other homeowners have learned about catching up on missed payments and what to expect in the process.

Book a Free Call and we’ll walk you through it step by step.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means

If you can’t pay all the missed payments at once, a hard money lender can step in to help. They pay off what you owe to stop the foreclosure and give you a new short-term loan. Later, when your credit and income look better, you can refinance again into a normal loan with a bank.

How It Works

1.) A hard money lender pays off your current loan and catches up all missed payments.

2.) You now have a new short-term loan (usually 6–24 months).

3.) This stops the foreclosure and gives you time to rebuild your credit or income.

4.) After a few months, you apply for a regular refinance with a bank or mortgage company to get lower rates and long-term payments again.

Timeline

- Bridge loan setup: usually 1–3 weeks.

- Conventional refinance: 3–6 months later, once you qualify.

Costs

Most of the costs come out of your home’s equity, so you don’t need much money upfront.

Here’s what to expect:

- Application fee: $150 (covers the lender’s review and paperwork).

- Lender commitment fee: 1–2% of the loan (this locks in your funding and reserves the lender’s capital for your deal).

- Appraisal: $400–$700 (the lender needs to know your home’s value).

- Other closing costs: Usually paid through your equity at closing, not out of pocket.

Note*** All of these costs are estimates, and not guaranteed.

Why It’s Different for Everyone

The amount you pay depends on your loan size, your equity, and your lender. Homeowners with more equity can often roll almost all costs into the new loan, meaning very little out-of-pocket money.

Good Things

- Stops foreclosure fast, even if you can’t pay everything right now.

- Lets you use your home’s equity to cover most of the costs.

- Buys you time to rebuild credit and refinance into a better loan.

- You keep your home and avoid auction.

Not-So-Good Things

- These lenders are very hard to find and only work with homeowners who have enough equity.

- Short-term loans have higher interest rates.

- You must refinance again soon or risk higher monthly payments.

- Not everyone qualifies; the home needs enough equity for the lender to approve it.

Bottom Line

A bridge refinance can save your home when you can’t afford a full reinstatement. It uses your equity to catch up, gives you breathing room, and helps you get back into a normal loan later.

Want to know more about this option?

We aren’t lenders, but we may know a trusted hard money lender in your area who can help.

Book a Free Call and we’ll walk you through what to expect.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
A loan modification means changing your current mortgage instead of getting a new one. The lender can lower your interest rate, add missed payments to the end of the loan, or make your monthly payments smaller so you can afford them again.

How It Works

1.) Call your lender and ask for the loss mitigation department.

2.) Fill out a hardship package. This usually includes:

Proof of income (like pay stubs or bank statements), A letter explaining why you fell behind, A list of your monthly bills and expenses

3.) The lender reviews everything.

4.) If approved, you’ll get a trial payment plan.

5.) Once you make the trial payments, the new loan terms become permanent.

Timeline

- Application takes 2–6 weeks to prepare and send.

- Review time is usually 1–3 months.

- You must apply before the foreclosure sale date.

Cost Example

- There’s no fee to apply with the lender.

- If you hire an attorney or company to help, it can cost $1,000–$4,000.

- The main “cost” is time and paperwork — it’s a long process.

Why It’s Different for Everyone
Every lender looks at income, credit, and loan type differently. Some approve faster or offer better terms, while others take longer or deny applications.

Good Things

- Lets you stay in your home.

- Can lower your monthly payment.

- May stop foreclosure once approved.

- Doesn’t require a big lump sum payment.

Not-So-Good Things

- Takes a long time and requires lots of paperwork.

- Not everyone gets approved.

- If you miss a step or payment, the process starts over.

- Many lenders keep the foreclosure process going while they review your file.

Bottom Line
A loan modification can be a great fix if your income is steady and you have time before the foreclosure sale. But it’s slow, so start early and stay on top of every document.

Want to know more about this option?
We aren’t the bank, but we can help you understand how the process works and share what other homeowners have experienced when working with their lenders.

Book a Free Call and we’ll walk you through it.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
Forbearance means your lender lets you pause or lower your house payments for a short time. It’s meant to give you breathing room while you fix a temporary problem, like job loss or illness. But you still have to pay the missed amount later.

How It Works

1.) Call your lender and ask for the loss mitigation department.

2.) Tell them about your hardship and ask if they offer forbearance.

3.) If approved, you’ll get a set period (usually 3–6 months) where your payments are paused or reduced.

4.) When that time ends, you’ll pay back what you missed — either all at once, through a repayment plan, or by changing your loan with a modification.

Timeline

- Application: a few hours to 2 days if your documents are ready.

- Approval takes about 1–2 weeks.

- Forbearance period usually lasts 3–6 months.

- Foreclosure is paused while your forbearance is active.

Cost Example

- Usually free to apply.

- If you hire legal or professional help, it can cost $500–$2,000.

- What you owe builds up during the pause, so the longer it lasts, the more you’ll owe later.

Why It’s Different for Everyone
Each lender has its own rules. Some require full repayment at the end, while others let you spread it out or add it to the end of the loan.

Good Things

- Gives fast payment relief.

- Buys time to fix short-term money problems.

- Stops foreclosure during the forbearance period.

Not-So-Good Things

- You still have to pay back everything you skipped.

- Can hurt credit if reported as late.

- Only a short-term fix — not a full solution.

Bottom Line
Forbearance helps if your problem is short-term and you just need time to recover. But it’s not free money — it only delays your payments.

Want to know more about this option?

We aren’t your lender, but we can share what other homeowners have found helpful when using forbearance.

Book a Free Call to learn more.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
A repayment plan lets you catch up on missed house payments slowly instead of all at once. You make your normal payment plus a little extra each month until you’re caught up.

How It Works

1.) Call your lender and ask about a repayment plan.

2.) You’ll need to show proof of income and explain what caused you to fall behind.

3.) The lender makes a plan that usually lasts 3–12 months.

4.) You make your higher monthly payments until your loan is current again.

Timeline

- Setup and approval: 1–3 weeks.

- Repayment period: 3–12 months.

- Foreclosure stops once the plan is approved and payments are made on time.

Costs
- No upfront cost from the lender.
- If you hire someone to help, it might cost $500–$2,000.
- Your monthly payment will be higher than usual during the plan.

Why It’s Different for Everyone
The extra payment depends on how much you owe and how long your plan lasts. A 6-month plan will have bigger payments than a 12-month one.

Good Things

- Lets you stay in your home.

- Fixes your loan without needing a lump sum.

- Better for your credit than foreclosure or bankruptcy.

Not-So-Good Things

- Monthly payment will be higher for a while.

- If you miss a payment, foreclosure can start again fast.

- Only works if your income is steady.

Bottom Line
A repayment plan is good if your money problem is over and you can afford higher payments for a few months. It takes discipline, but it can help you keep your home.

Want to know more about this option?

We aren’t your lender, but we can share what other homeowners have found helpful when setting up repayment plans.

Book a Free Call to learn more.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
If your loan is backed by the government (like FHA, VA, or USDA), you might be able to move your missed payments to the end of your loan instead of paying them back right now. This brings your loan current without raising your monthly payment.

How It Works

1.) Call your lender and ask if your loan qualifies for a partial claim or payment deferral.

2.) If approved, the lender moves all missed payments to the end of your loan.

3.) You start making your regular payments again, and the foreclosure stops.

4.) You’ll pay back the moved amount later when you sell or refinance your home.

Timeline

- Application and review: 2–4 weeks.

- Once approved, your loan becomes current right away.

- You repay the deferred amount only when the loan ends or the home sells.

Costs

- No upfront cost.

- No extra monthly payment.

- You only repay the deferred amount at the end of the loan.

Why It’s Different for Everyone
This option only works for certain loan types like FHA, VA, or USDA. Homeowners with regular (conventional) loans might not qualify.

Good Things

- Makes your loan current fast.

- Keeps your payment the same.

- No lump sum or big cost upfront.

- Stops foreclosure once approved.

Not-So-Good Things

- Only available for certain government loans.

- You’ll still owe the moved payments later.

- Takes lender and government approval, which means extra paperwork.

- Not available to everyone.

Bottom Line
A payment deferral or partial claim is one of the easiest ways to fix a short-term problem if you qualify. It keeps you in your home and catches up your loan without adding new debt.

Want to know more about this option?

We aren’t your lender, but we can share what other homeowners have found helpful when using this type of program.

Book a Free Call to learn more.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
Refinancing means getting a brand-new loan to pay off your old one. The new loan pays off everything you owe, including missed payments, so your account becomes current again. Many people refinance to lower their interest rate or monthly payment.

How It Works

1.) Apply with a new lender or your current one.

2.) The lender checks your credit, income, and the value of your home.

3.) If approved, the new loan pays off your old mortgage completely.

4.) You start fresh with new terms and monthly payments.

Timeline

- Application and approval: 30–45 days.

- Must be completed before the foreclosure sale date.

- Once it closes, foreclosure stops.

Costs

- Closing costs: usually 2–5% of the loan amount (often rolled into the loan).

- Appraisal: $400–$700.

- Credit and lender fees: $500–$1,000.

Why It’s Different for Everyone
Refinance options depend on your credit score, income, home value, and how far behind you are. People with more equity or better credit get faster and cheaper offers.

Good Things

- Resets your loan as current.

- Can lower monthly payments.

- May offer better interest rates.

- You keep your home.

Not-So-Good Things

- Hard to qualify if your credit is low or you’re far behind.

- Takes time — not ideal if your auction is soon.

- Has closing costs and fees.

Bottom Line
Refinancing can be a great way to save your home and lower payments if you still qualify. But it takes time, so apply early before your foreclosure date gets too close.

Want to know more about this option?

We aren’t lenders, but we can share what other homeowners have learned when refinancing during foreclosure.

Book a Free Call to learn more.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
Bankruptcy is a legal process that can stop foreclosure right away by giving you protection from creditors. It doesn’t erase your mortgage, but it gives you time to catch up or reorganize your debt under the court’s supervision.

There are two main types for homeowners:

Chapter 13: Lets you catch up on missed payments over 3–5 years and keep your home.

Chapter 7: Wipes out some debts (like credit cards) but usually only delays foreclosure for a short time.

How It Works

1.) You and your attorney file a case in federal court.

2.) The court immediately puts an automatic stay on collections and foreclosure.

3.) You follow a repayment plan (Chapter 13) or get certain debts erased (Chapter 7).

4.) The court reviews and finalizes your case.

Timeline

- Filing: takes a few days once paperwork is ready.

- Chapter 13 plan: lasts 3–5 years.

- Chapter 7 discharge: usually 3–6 months.

- Foreclosure stops the day your case is filed.

Costs

- Attorney fees: $1,000–$4,000.

- Court filing fees: about $300–$350.

- Trustee fees (for Chapter 13): usually 5–10% of payments made.

Why It’s Different for Everyone
Your income, debt amount, and loan type decide which chapter fits best. Only an attorney can tell you which one is right for your situation.

Good Things

- Stops foreclosure right away.

- Gives time to reorganize debts.

- Can help you keep your home under Chapter 13.

- Wipes out other debts to make payments easier.

Not-So-Good Things

- Damages credit for 7–10 years.

- You must follow the court’s plan exactly.

- Complicated legal process that requires an attorney.

- Chapter 7 usually only delays foreclosure, not stops it for good.

Bottom Line
Bankruptcy can protect you for a while and help you get organized, but it’s a serious legal step with long-term effects. Talk to a licensed attorney before choosing this option.

Want to know more about this option?

We aren’t attorneys, but we can share what other homeowners have learned from going through bankruptcy.

Book a Free Call to learn more.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
A Temporary Restraining Order (TRO) is a legal order from a judge that can stop a foreclosure sale right before it happens. It’s used when the homeowner believes the bank made a mistake or didn’t follow the rules. A TRO doesn’t cancel the foreclosure forever — it just pauses it for a short time.

How It Works

1.) An attorney files a lawsuit and requests a TRO from the court.

2.) A judge reviews the case, often within hours or days.

3.) If the judge agrees, the sale is stopped for a few weeks while the case is reviewed.

4.) At the next court hearing, the judge decides if the foreclosure stays paused or can continue.

Timeline

- Filing: 1–3 days.

- TRO duration: 2–4 weeks, sometimes longer with another court order.

- Works best if filed right before the auction date.

Costs

- Attorney fees: $2,500–$10,000 depending on the case.

- Court filing fees: a few hundred dollars.

- Extra legal costs if the case continues after the first hearing.

Why It’s Different for Everyone
A TRO only works when there’s a valid legal reason, like improper notice or lender errors. Judges approve them only if the evidence is strong.

Good Things

- Can stop foreclosure immediately, even the day before auction.

- Gives you time to explore other options like a sale, refinance, or loan modification.

- Forces the bank to address possible mistakes.

Not-So-Good Things

- Very expensive upfront.

- Only temporary — foreclosure continues later if nothing else is done.

- Hard to get unless there’s a strong legal reason.

Bottom Line
A TRO is an emergency tool to buy time when you believe your foreclosure is unfair or incorrect. It’s short-term and should only be used with a trusted attorney who understands foreclosure law.

Want to know more about this option?

We aren’t attorneys, but we can share what other homeowners have experienced when using a TRO to pause foreclosure.

Book a Free Call to learn more.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
A traditional sale is when you list your home with a real estate agent and wait for a buyer to purchase it, usually with a mortgage. It’s the same process most people use when selling a house, but it can take time — which can be a problem if your auction date is soon.

How It Works

1.) You search for, interview, and hire a real estate agent and agree on a listing price.

2.) The agent markets your home, sets up showings, and finds buyers.

3.) A buyer makes an offer, gets an inspection and appraisal, and waits for loan approval.

4.) Once everything clears, the sale closes and the mortgage is paid off.

Timeline

- Listing and showings: 1–5 months.

- Buyer loan and closing: 30–45 days.

- Total time: usually 2–6 months or more.

- If your auction is close, this option may not be fast enough.

Costs

- Realtor commission: 5–6% of the sale price.

- Closing costs: 1–3% of the sale price.

- Repairs or buyer credits: depends on your home’s condition.

- You keep paying your loan, taxes, and bills until the sale closes.

Why It’s Different for Everyone
The local market, your home’s condition, and how close your auction date is all make a big difference. Homes in good shape and strong markets sell faster.

Good Things

- Can bring the highest sale price in a good market.

- Pays off your loan completely if your home value is high enough.

- Normal process that many homeowners already understand.

Not-So-Good Things

- Takes too long if foreclosure is near.

- Requires repairs, clean up, showings, and inspections.

- Buyers can back out or lose financing.

- You must keep up payments while waiting for it to sell.

Bottom Line
A traditional sale can work well if you have time before your auction and want full market value. But if time is short, it’s often too slow to stop foreclosure.

Want to know more about this option?

We aren’t real estate agents, but we can share what other homeowners have learned when selling before foreclosure.

Book a Free Call to learn more.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
A quick cash sale means selling your home directly to an investor or cash buyer instead of listing it with a real estate agent. The buyer pays with cash, so there’s no waiting for bank approval. It’s the fastest way to stop foreclosure and move on.

How It Works

1.) You agree on a price with a cash buyer or investor.

2.) The title company checks ownership and prepares closing papers.

3.) The sale closes in days, not months.

4.) You get your cash, and the foreclosure stops before auction.

Timeline

- Closing: usually 7–21 days.

- In urgent cases: as fast as 3–5 days.

- Can work even if the auction is soon, as long as there’s enough time for title and closing.

Costs

- Most investors pay all closing costs.

- No agent commission.

- Sometimes the buyer can even help with moving costs.

Why It’s Different for Everyone
Your home’s value, condition, and location affect the cash offer amount. Homes needing repairs or with less equity get lower offers, while others may get close to market value.

Good Things

- Fastest way to stop foreclosure.

- No repairs, showings, or waiting.

- No commissions or closing costs.

- You get cash right away.

Not-So-Good Things

- Sale price is usually lower than a traditional sale.

- Once sold, you no longer own the home.

- Some investors aren’t reliable — always use a trusted company.

Bottom Line
A quick cash sale is the fastest and simplest way to stop foreclosure when time has run out. You trade a bit of value for speed, peace of mind, and a clean slate.

Want to know more about this option?

We buy houses and also work with other trusted local buyers.

Submit a quick form to get a cash offer today and see what your home could sell for.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
A novation, also called our QuickDraw Retail Program (QDRP), lets you team up with an investor to sell your home for close to full market value — without paying for repairs, closing costs, or commissions. The investor fixes up your home, lists it on the market, and you both share the profits once it sells.

How It Works

1.) You and the investor sign a novation agreement that agrees on a net price to you and gives them permission to market and improve your home.

2.) The investor pays for repairs, upgrades, and listing costs.

3.) The home is listed on the market at retail price.

4.) When it sells, the investor gets back their costs and agreed profit, and you get the agreed on price.

Timeline

- Repairs and setup: 1–2 weeks.

- Listing and sale: 30–60 days depending on the market.

- Total time: usually 45-75 days to close.

Costs

- No out-of-pocket costs for you.

- Repairs, commissions, and closing costs are paid by the investor.

- You get your final payout after the home sells.

Why It’s Different for Everyone
Your payout depends on how much work the home needs and what it sells for. Homes that need little work can bring higher returns.

Good Things

- You make more than with a cash sale.

- No repair or selling costs.

- Investor handles everything — repairs, showings, and buyers.

- You can stay hands-off and still benefit from the higher sale price.

Not-So-Good Things

- Takes longer than a cash sale.

- Requires allowing repairs and showings in your home.

- Not ideal if your auction date is only days away.

Bottom Line
A novation (QDRP) is great for homeowners who have time and equity but don’t want the stress or cost of fixing and listing their home. It can bring you more money while the investor does the work.

Want to know more about this option?

To see if you get approved for our QuickDraw Retail Program

submit a quick form to see if your home qualifies.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
A subject-to sale means you sell your house to an investor, and they start making your mortgage payments for you. The loan stays in your name, but the investor takes ownership of the property. This helps you stop foreclosure fast without paying anything upfront.

How It Works

1.) You sign a purchase agreement with an investor.

2.) The investor catches up your missed payments and takes over making future payments.

3.) The title (ownership) of the house transfers to the investor.

4.) You avoid foreclosure, and your credit doesn’t take a full foreclosure hit.

Timeline

- Setup: 1–3 weeks.

- Can stop foreclosure right away if payments are caught up in time.

- Often closes before the auction date.

Costs

- No out-of-pocket costs.

- Investor usually covers payments, closing costs, and fees.

- You may get some cash at closing if there’s enough equity.

Why It’s Different for Everyone
Every deal is customized. The amount of cash you get and how fast it closes depend on your loan balance, home value, and equity.

Good Things

- Stops foreclosure quickly.

- No big costs or fees to you.

- You can move on without the stress of missed payments.

- Protects your credit from a foreclosure mark.

Not-So-Good Things

- The loan stays in your name until the investor pays it off or refinances.

- You must trust that the investor will keep making payments.

- Not a good fit if you’re uncomfortable leaving a loan in your name.

Bottom Line
A subject-to sale can be a fast, stress-free way to avoid foreclosure if you trust the buyer. It’s common for investors to use this when time is short and you need quick relief.

Want to know more about this option?

We’ve seen many homeowners use this strategy successfully with trusted investors.

Submit a quick form to learn if a subject-to sale could work for your home.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
A loan assumption is when a new buyer takes over your existing mortgage under the same terms — same balance, same rate, and same payments. The lender approves the transfer, and the new buyer becomes responsible for the loan while you’re released from it. This works best for loans backed by FHA, VA, or USDA.

How It Works

1.) You find a buyer who wants to take over your loan.

2.) The buyer applies with your lender for approval.

3.) If approved, the loan and property transfer to the buyer’s name.

4.) You’re released from the debt once it closes.

Timeline

- Buyer approval: 30–90 days.

- Closing: another 2–4 weeks after approval.

- Total: about 2–4 months.

- Too slow if your auction date is close.

Costs

- Lender assumption fee: about 0.5–1% of the loan amount.

- Regular closing costs for title and transfer.

- If the home is worth more than what’s owed, the buyer must pay that difference in cash.

Why It’s Different for Everyone
Only some loans are assumable, and not all lenders allow it. How much equity you have and how fast the buyer qualifies will change your timeline.

Good Things

- You’re fully released from the mortgage.

- Buyers like this if your loan has a low interest rate.

- Avoids foreclosure and protects your credit.

Not-So-Good Things

- Takes months to finish.

- Not all loans qualify.

- You must find a buyer willing and able to go through the process.

- If your home has a lot of equity, the buyer needs to pay that difference upfront.

Bottom Line
A loan assumption can be a clean, safe way to avoid foreclosure if your loan qualifies and you have enough time. But it’s slow and requires a buyer who meets your lender’s rules.

Want to know more about this option?

We don’t offer this service ourselves, but we can help you understand how it works and share what other homeowners have experienced.

Book a Free Call to learn more.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
A short sale is when you sell your home for less than what you owe on your mortgage, and the lender agrees to accept the lower amount as full payment. This helps you avoid foreclosure and the damage it can cause to your credit.

How It Works

1.) You list your home with a real estate agent or investor who handles short sales.

2.) You get an offer from a buyer.

3.) The lender reviews your offer, your finances, and a hardship letter explaining why you can’t pay.

4.) If approved, the home is sold, and the foreclosure is stopped.

Timeline

- Total time: usually 2–4 months.

- The lender’s approval is the longest part of the process.

- Must close before your auction date.

Costs

- Usually no out-of-pocket costs.

- The lender often pays realtor commissions and closing costs.

- Your credit score will drop, but not as much as it would from a foreclosure.

Why It’s Different for Everyone
The process depends on your lender, the offer amount, and how quickly the buyer can close. Some lenders approve fast, while others take months.

Good Things

- Avoids foreclosure and saves your credit from worse damage.

- May forgive the remaining loan balance.

- Lets you move on faster than a foreclosure would.

Not-So-Good Things

- Takes time and patience.

- Lender approval isn’t guaranteed.

- Can still hurt your credit.

- May not work if your auction date is close.

Bottom Line
A short sale is a good option if your home is worth less than you owe and you want to avoid foreclosure. It takes effort and time, but it’s often less damaging than letting the bank take the home.

Want to know more about this option?

We don’t handle short sales directly, but we can help you understand the process and connect you with professionals who do.

Book a Free Call to learn more.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.

What It Means
A deed in lieu of foreclosure is when you voluntarily sign your home over to the bank instead of going through the full foreclosure process. In return, the bank usually cancels your mortgage debt and stops the foreclosure.

How It Works

1.) You contact your lender and ask if they’ll accept a deed in lieu.

2.) You fill out paperwork and show proof of financial hardship.

3.) The lender checks for other liens or loans on the property.

4.) If approved, you sign over ownership, move out, and the foreclosure ends.

Timeline

- Review and approval: 30–90 days.

- Final paperwork and move-out: 1–4 weeks.

- Total time: about 1½–3 months.

- Must be completed before the auction date.

Costs

- Usually no out-of-pocket cost.

- Some banks offer “cash for keys” — $500 to $5,000 to help with moving costs.

- You may owe taxes if the lender forgives part of your loan.

Why It’s Different for Everyone
Each lender has its own rules. Some forgive all the debt, while others may only cancel part of it. If you have a second mortgage or liens, this option might not work.

Good Things

- Avoids public foreclosure.

- May include relocation help.

- Often wipes out what you owe.

- Easier recovery for your credit than foreclosure.

Not-So-Good Things

- You lose the home permanently.

- Credit still takes a hit.

- Only works if the lender agrees and the title is clear.

Bottom Line
A deed in lieu can be a clean and simple way to walk away without a full foreclosure. It’s best when you’re ready to move on and want to minimize damage to your credit.

Want to know more about this option?

We don’t handle this process directly, but we can explain how it works and what other homeowners have experienced.

Book a Free Call to learn more.

For educational purposes only. We are not attorneys, lenders, or financial advisors. Foreclosure laws vary by state. Timelines and costs for each option are estimates and not guaranteed.