You have a number of options available to you if you are facing foreclosure. In this article, we will discuss bank refinancing, short sales, and deeds in lieu of foreclosure.
It used to be that banks would do nothing to stop mortgage foreclosure. They simply allowed you to go into default and then bought the home themselves or sold it at auction. Unfortunately for them, the housing crisis has meant that they now have hundreds of thousands of homes on their books. Many of these are sitting vacant in ghost towns and are virtually unrentable and unsaleable.
Tags: auction, foreclosure bank refinancing, housing, sales
