Foreclosure is a very stressful process for homeowners. Many people find few options and the options become even fewer the farther along you go in the process.
Many homeowners will procrastinate or don’t want to face the fact that they are in trouble. They might think that help will magically appear, maybe the mortgage lender will be more willing to work with them or possibly the government will step in to help. Unfortunately for most people help never, ever materializes.
In a hot housing market, mortgage companies are moving ahead with foreclosure and speeding up the process. It is in the mortgage companies best interest to scoop up your home and resell it.
So, what can you do when you are days away from foreclosure and you realize that it is far better if you can sell your home and prevent further damage to your credit?