My Real Estate Tips » Are You Facing Foreclosure?
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W.K. Foreclosure and Short Sale Fannie Mae program, Foreclosure and Short Sale, Foreclosure Options, Freddie Mac loan. Comments (0) Trackbacks (0) Leave a comment Trackback. No comments yet. No trackbacks yet. Name (required) …
Here is a response on similar topic:-
What options are available to avoid foreclosure?
Don't stop making the payments yet. Have a lender review the loan and the equity and see if there is something they can do in the mean time to lower the payments.
Second, see if they could rent out the house to cover the payments for now.
Third, offer more commission to the selling agent. Like 5% to the selling agent. This will motivate the agents to show this house.
Last step, contact the lender and see what they can do. Remember though, if the bank loses money you could be tax for the difference as income. This should be your last resort.
I hope this helps you. Feel free to email me with more questions.
CA Lender
FYI, here is a list of recently published Posts on same topic:-
Pre-Foreclosure Sale-The Pros and Cons
How to Get, Avoid Foreclosure
Word To The Wise: The Foreclosure Nightmare
Foreclosure law
Distressed Arizona Homeowners – Offering Free CMAs
I though that might be of interest 
Here is a news article on related topic:-
Fed’s Duke Outlines Housing Options
Financial institutions can help by developing clear procedures to approve short sales and deeds-in-lieu-of-foreclosure. Options such as a “cash-for-keys” …
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