3 Ways To Avoid Foreclosure in Wisconsin

Behind on mortgage payments?

Losing sleep over the thought of losing your house?

Haven’t asked for help because you’re afraid of the embarrassment?

What should you do when facing foreclosure in Wisconsin?

Don’t blame yourself for the situation you’re in. A Foreclosure DOES NOT Define You. Foreclosures happen for a number of reasons, and to homeowners all over Wisconsin. Uncontrollable and unfortunate life events come in, seemingly one after another. A mother passes away… a father gets injured and is out of work… your loved one becomes ill and you’re faced with a mountain of medical bills. You’ve lost a source of income… bills, car payments, and mortgage loans start piling up. It feels like you’re drowning in debt and you’re just scrambling for a way to buy more time.

It’s important to remember that taking immediate action is absolutely necessary to avoiding foreclosure. It could save your home or at least place you and your family in a position to get back on your feet. Time is something you don’t have.

 

So let’s get started right away, and give you a few ways you can stop foreclosure on your home.

Facing Foreclosure in Wisconsin

Here’s 3 Ways To Avoid Foreclosure In Wisconsin: Don’t abandon ship.

Many people simply give up and walk away from their home. In RacineKenosha, and Milwaukee, we sometimes see full blocks where the majority of houses are vacant, boarded up, and the lawns are overgrown and an eyesore to the neighborhood. You might be so far into the process that allowing the bank or lender to take over ownership of the house seems like the best and only option.

 

Allowing a foreclosure should be a last resort. A foreclosure can have a huge impact on your credit and you will feel it for at least 7 years. You’ll be in a deeper hole making it even more difficult for you to get back on your feet and back to owning a home again.
While it’s extremely stressful, you do have options:

1. Negotiate with your mortgage lender.

If you’re taking immediate action (and the lender has not begun the foreclosure process) you can negotiate with the lender and they may offer you forbearance or a full loan modification if you are in a time of hardships. Forbearance will allow you to temporarily avoid foreclosure while you work to improve your situation. While a full loan modification is a long term way to make your payments more affordable, but you must prove you can afford the new payment through a trial period.

2. Ask for federal help. 

There is currently one government program available to assist homeowners facing foreclosure. There is still the Hardest Hit Fund (HHF) program that has extended to the end of 2020. Make sure you meet the eligibility requirements to qualify for this programSome programs such as the Home Affordable Modification Program (HAMP) and Home Affordable Refinance Program (HARP) have both officially ended on December 31, 2018.

3. Sell your house and assets.

This might seem just as bad as letting your house get foreclosed on, but selling your house, vehicle, and other valuable possessions will allow you to pay off the owed amount to the lender and give you an extra amount of cash to find a place to rent and start overcoming this obstacle in your life. This is likely the easiest and fastest option to getting back on your feet. You won’t have a huge hit to your credit and you and your family will be in a better starting place while you work on getting back to financial stability.

Beware Of Foreclosure Rescue Scams!

REAL Help Is ALWAYS Free! 

We understand losing your home is stressful and you’re looking for the best solution. You aren’t alone. Residents all over Wisconsin are going through the same troubles. Foreclosure can have a lasting effect on your financial life, and it’s important to act fast and take advantage of any options available. But you should never pay any money for help. We’re always available to chat.

We don’t charge any fees… we’ll evaluate your situation… and present you options so you can move forward and get this foreclosure behind you.

 Knowing your options will take the weight off your shoulders and end the sleepless nights.

Give Us A Call (262) 228-8505 or
Fill out the form on this website today! >>

 

 

For more information on how to avoid foreclosure in Wisconsin.
5 ways to stop foreclosure report - download to the right
Beware of Foreclosure Rescue Scams!
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