If you have lost your job and now you are having problems in paying mortgage, contact a loan modification consultant to know the best way to fix this problem so that you can save your home. He can tell you if your loan can be modified and how it can be modified to your best advantage. If there is no way to modify your mortgage, he will tell you how best to face the foreclosure.
How to take a House on Rent?
When foreclosure proceedings are going on, it is best to take a house on rent. When you do that, you have to pay the rent for the first month and then keep a deposit. If you keep the rental apartment neat and tidy and do not enjoy a lavish lifestyle, you will be able to stay there for long. In some states, the owners offer one or two months of free rent. When you rent a house, you will enjoy a lot of facilities, like no property taxes, no mortgage payments and others.
Ways to have a Home if your Home is foreclosed
The housing market is in trouble with millions of homeowners facing foreclosure. If you too are facing foreclosure then you can try for a home elsewhere at the half price of your current home. If your current home facing foreclosure is not worth the price you are paying, the loan modification companies and real estate agents will be able to help you with a smaller home with two bathrooms and two garages where you can pay just $350 a month with insurance and taxes.
After a real estate agent shows you the home, check with a local lawyer if all the papers of the home are in order and then make the investment.
Do not lose hope if you are facing foreclosure, as there are a lot of properties for sale for just half the price.