According to experts, if you are behind on your mortgage payment, one of the best things you can do is contact your lender. Experts say that lenders may be open to working out a plan with you that will enable you to avoid foreclosure. The key is that you must act quickly.
Some options for avoiding foreclosure on your commercial or residential property include loan modification, short sale, or bankruptcy. You can also ask for a forbearance to get your mortgage payments temporarily suspended for a period of time.
Most people are unsure of their options and wait too long to get help when they know they are on the verge of foreclosure and struggling with debt. Instead of waiting, it is important to confront the situation head on by speaking with your lender or a San Antonio bankruptcy attorney.
To learn how you can prevent foreclosure, contact us today!