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Have you missed a few mortgage payments and the bank is now threatening to file an NOD (Notice of Default) or have they already filed it?
Don't immediately go to the worst case scenario and know that there are possible options so you can avoid a foreclosure. If you have equity in your home, you can sell and pay off the loan and late fees and penalties before they set up a trust deed sale. If you do not, you can try and negotiate with the bank to tack the missed payments on the back end of the loan. With COVID-19 causing so many homeowners distress, the banks are more open to talking to you as they do not want a foreclosure if they can help it.
If you do not have equity and you are having financial issues, you can try to sell as a short sale in order to get out from under the debt.
There are options but you must act quick once the NOD is filed as you only have limited time to come to a solution before the bank continues the foreclosure process. DO NOT bury your head in the sand and think it will just go away, communication with the bank is key and many times will help keep them from moving forward with the foreclosure quickly.
Please reach out to me for a confidential consultation so we can come up with a plan of action to try and keep you in your home or find a way to sell it so you can avoid foreclosure and get the loan paid off.
I just wanted to post a resource so you can understand what a mortgage forbearance is before you take that route. I know it sounds like a good idea now, but paying back all those missed payments can be an issue later on. If you can continue to pay, I would highly suggest you keep everything as current as you can so you do not have any issues later on down the line when the banks what the missed payments.