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Everyone knows that good people sometimes do fall on bad times. And when bad times come, you need to know that you have options. It is only too common to react in panic to tragic and unfortunate situations and take the first solution that comes your way. But the first solution may not always be the best for your situation, - unfortunately most people find this out the hard way.

This site is designed to make you aware of the options that may be available to you and to help you find the perfect solution to your real estate situation.

Is my situation permanent?

The first question to ask yourself is: "Is my situation permanent?" What does this mean? Well when you own real estate, especially a house you most likely bought it as a long term investment. It cost a lot of money, but most likely you took out a large loan to buy it. Now if tragedy befalls you and you can no longer afford to pay your loan payments, you need to determine if your situation is permanent or temporary.

Temporary situations:

Job loss, or an accident that requires a recovery period are examples of temporary situations. In both these cases you should be able to start making your loan payments again in a reasonable amount of time.

Long term situations:

Death and divorce are examples of more long term situations. These situations usually require you to downsize, or sell your home quickly and move to a more affordable residence.

Can I keep my home?

In some cases, YES, you can keep your home. If your situation is only temporary and you can prove that you will soon be able to pay your loan payments again, then your lender will most likely work with you. Contrary to popular belief, lenders do not want to foreclose on you. It is very costly and time consuming for them to do so. But after a certain point of non-payment (usually 3 months) they stop trying to make you pay and instead proceed with the foreclosure process.

My situation is more long term what can I do?

If you are sure that your situation is long term, meaning you won’t be able to afford your loan payment anytime soon, then you need to start thinking about downsizing. Now I know that real estate is not just a house or piece land, it is dreams and memories. So I do realize that thinking about moving is extremely hard. But I also know that it is better to deal with a difficult situation head on, come to terms with it and make decisions while you still can. One thing that is for sure is that if you keep ignoring your late notices it won’t be long before you are forced to move from your home. Therefore it is better to deal with your real estate situation as soon as you can, you will defiantly be better off later on when the storm calms and believe me the storm will calm and life does go on after tragedy.

If your home or property is already scheduled to be sold at auction:

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