Posted on: 10th Oct, 2010 09:14 am
what are my options to avoid foreclosure on a condo? my situation is that i do not what it and have been trying a short sale for 4 mths and now the bank sent me notice they plan to foreclose in 30 days. i do not want a foreclosure to hit my credit {late payments i can handle} and i am scared that if a foreclosure hits my credit it will affect my job and i could lose it and the bank might come after my ira or money that i am having to use to pay for my parents assissted living. i do have enough money to pay it off but would wipe out my ira { used to be 401k but i rolled to ira after a job change} and the other funds that i have in mma pay for parents assisted living for my mother has advanced alzheimers.
Hi stidebrown,
If you want to avoid foreclosure and want to retain your property, then you should contact your lender and apply for a loan modification. This will not only save your credit to a large extent but also you'll be able to save your property.
Thanks,
Jerry
If you want to avoid foreclosure and want to retain your property, then you should contact your lender and apply for a loan modification. This will not only save your credit to a large extent but also you'll be able to save your property.
Thanks,
Jerry