Let?s face it ? your home is more than just four walls and a roof on a plot of land. It?s where you and your wife started your marriage. It?s where your little ones said their first words and walked their first steps. It?s a place that holds all of your most precious memories. So the idea of losing it can be absolutely terrifying. Receiving foreclosure notices might be keeping you up at night, but just know that there are options and alternatives and they?re not as scary as you might think:
- You can negotiate a modification of your loan or mortgage.
- You can file for Chapter 13 bankruptcy, effectively saving your home by moving your mortgage payments into the Chapter 13 repayment plan.
- You can utilize a strategic mortgage default.
- You can file for Chapter 7 bankruptcy, which can help you walk away.
- You can sell your house using a short sale option.
- You can sell the house and get help buying something more reasonable. It might sound difficult, but it?s not that bad and thousands have used this option to get the financial burden off their shoulders.