How can your save a home from foreclosure? Solutions for resolving the default range from reinstatement (bringing the loan current by catching up on past due payments), a workout with the lender, refinancing, paying off the debt in full, or selling the property, which has to be done fairly quickly to avoid the trustee’s sale. If none of the above happens by the auction date, your property will be sold to the highest bidder, and typically the bank takes the property back for the amount of the debt.
If your home is in default, you cannot afford to experiment or fool around for months learning how these things work by trial and error. As a sword swallower might say, “Don’t try this at home. You could get hurt.” If your home is in default, find a professional who knows this stuff inside and out. Attack the problem right away. Procrastination will cost you valuable time, which you don’t have right now.
To learn more about the foreclosure process in Sequim and Port Angeles, review these articles:
Short Sales and Foreclosures
The Legal Foreclosure Process
When you’re ready for professional help from someone who is a real estate broker and Realtor, and who practiced real estate law for 20 years, email me or call me. I’d be glad to answer your questions, and maybe I can help.
Chuck Marunde, J.D.
Sequim & Port Angeles Real Estate, LLC
618 South Peabody St., Suite I
Port Angeles, WA 98362
Last Updated on September 1, 2019 by Chuck Marunde
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