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.
So let’s get started right away, and give you a few ways you can stop foreclosure on your home.
Here’s 3 Ways To Avoid Foreclosure In Wisconsin: Don’t abandon ship.
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 program. Some 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.
Knowing your options will take the weight off your shoulders and end the sleepless nights.
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