How to Avoid Foreclosure in Savannah

how to avoid foreclosure in savannah ga hinesville statesboro

While the economy in Savannah is struggling, many people in Savannah GA are also struggling to make their mortgage payments. Let’s discuss how to avoid foreclosure in Savannah.

If you’re underwater on your home or having trouble keeping up with your monthly mortgage payments, you could be fearful that your mortgage lender is going to foreclose on your house.

Thankfully, there are a number of things that you can do to avoid foreclosure in Savannah. It’s important to remember that moving quickly is absolutely paramount, and could save your credit rating and your home. Hoping your foreclosure will just go away is not a solution.

So lets dive in on a couple quick tips on possibly how to avoid foreclosure in Savannah with your home.

2 Tips On How To Avoid Foreclosure in Savannah – Don’t Give Up Yet

Many people simply give up and walk away from their homes. There are even areas of Savannah that have begun to resemble ghost towns, as the economy has impacted residents significantly.

Detroit is a prime example of what can happen when people abandon their homes.

learn more about how to stop foreclosure in savannah hinesville statesboro georgia

This can be a stressful situation, but it’s extremely important to keep stay calm and level headed. A foreclosure will have a huge negative impact on your credit score, and likely prevent you from purchasing a home for years to come. If you sell your home, you could leave a portion of the loan unpaid, and the lender could pursue legal action against you for the unpaid portion.

While it’s extremely stressful, you do have options:

Negotiate with your mortgage lender. Banks and other financial institutions are well aware that citizens of Savannah are struggling. If you haven’t missed a payment yet, you may have some leverage to renegotiate the terms of your loan. Banks don’t like foreclosing on homes, and many will work with you if you aren’t too far behind. You may be offered forbearance or even a full loan modification. But the key here is to start talking with them as soon as you know there is going to be a problem!

Ask for help from Uncle Sam. Over the last five years, the federal government has implemented a number of programs to help struggling homeowners. The Home Affordable Modification Program (HAMP) allows struggling homeowners to modify their loans, reducing monthly payments. The Home Affordable Refinance Program allows homeowners who are current on their mortgage payments refinance an adjustable-rate mortgage into a low-interest, fixed-rate loan. You can reduce the amount of the mortgage payment and get rid of any ballons. Both of these programs are subject to eligibility requirements so be sure to visit their website to learn more HERE.

We understand that the possibility of losing your home can be extremely stressful. You aren’t alone, citizens all over Savannah are going through the same troubles as you. Foreclosure can have a lasting effect on your financial life, and it’s important to move quickly and take advantage of any options available. You could save both your credit rating and remain in your home.

We may be able to help you avoid foreclosure, connect with us today, and let’s discuss your situation. We don’t charge any fees. We’ll evaluate your situation and present your options so you can move forward and get this foreclosure behind you. We buy houses in foreclosure around Savannah from sellers just like you.

Give us a call/text anytime at (912) 421-0714 or
fill out the form on this website today! >>

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