Do You Need to Stop Foreclosure in Delaware?
We May Be Able To Help.
Stop foreclosure in Delaware on your house. Here’s how…
Not all foreclosures have to end in the homeowner losing their home. Most homeowners going through foreclosure don’t know all of their options, and it’s not your fault. In some cases you may be able to stop foreclosure in Delaware, or if you’re not quite in foreclosure but heading there… we may be able to help you avoid foreclosure.
If you are reading this, you may have already received a Notice Of Default (NOD) from your lender. This notice informs you that you are behind on your mortgage payments and that your property in Delaware may be going into foreclosure. After the NOD is filed, lenders must typically wait 90 days before selling and auctioning off your property. If you are within this 90-day period, there may still be time to stop foreclosure in Delaware on your house.
Options to Stop Foreclosure in Delaware
So you have decided that you want to stop foreclosure on your property in Delaware. Here are a few options that you have moving forward:
1. Sell Your Home – Speak with experienced real estate agents to see if listing your house is the best option. It may or may not be depending on the value of your home, your mortgage, and how quickly homes sell in your area. You may not have enough time to go through the process of listing and selling your home with a realtor before you can stop foreclosure in Delaware. Many times, it may make more sense to sell your property to investors who are certain to have cash to buy your house in Delaware. Investors can buy your property in as little as ten days!
2. Consider a Short Sale – If your home is worth less than what you owe on the loan, you might be a candidate for a short sale. Basically, your realtor will need to negotiate with the lender to see if they would be willing to take less than the full amount due on the loan. Keep in mind that this DOES affect your credit just as a foreclosure would and not all homes qualify for short sales.
3. Deed-in-Lieu of Foreclosure – This essentially means the homeowner is signing the deed to the home back to the lender, thus closing out the loan and stopping foreclosure in Delaware. Again, this affects one’s credit the same as a foreclosure would but you might even negotiate terms to stay in the home or rent the home for a lower price until the home is sold.
4. Chapter 13 Bankruptcy – If these other avenues fail to stop the foreclosure, homeowners can file Chapter 13 bankruptcy which legally puts a stay on the foreclosure in Delaware. At this point, all creditors are legally bound to stop their collection efforts, including selling the home in the foreclosure process. However, there are some exceptions and homeowners may still risk losing their homes but an attorney can help explain the legalities.
Fill out the quick form below and we’ll set up a Stop Foreclosure in Delaware Counseling Session with you and one of our foreclosure experts. The session is free. We’ll find out about your specific situation, give you some more education to help you better navigate the foreclosure process successfully, and help you determine which option would be best for your situation.