If you live in North Carolina and are facing foreclosure don’t give up hope. Stopping the foreclosure is not an easy process; it will take some hard work and determination on your part. But, if you know what you are doing and are willing to put in the effort required, you can learn how to stop foreclosure in North Carolina and save your home and/or credit.
Stop Foreclosure in North Carolina
North Carolina, like many other states, gives you numerous options to stop a foreclosure once it starts. Here are the best solutions available in NC.
#1: Call and talk with your lender. Some lenders are willing to help you get caught up and stop the foreclosure process. They may suggest modifying your loan or make a payment plan.
#2: You can also apply for a loan modification through your lender under the Making Home Affordable Program. This program will help you renegotiate the terms of your home loan.
#3: Another great option is to lean on a non-profit housing counseling agency. The North Carolina Foreclosure Prevention Fund provides interest-free loans to qualified homeowners and the Mortgage Foreclosure Defense Project provides homeowners with access to legal representation. The State Home Foreclosure Prevention Project puts homeowners in contact with the resources they need to help avoid foreclosures.
#4: Although it’s a last resort, bankruptcy is another option homeowners may use to stop foreclosure. But as we have mentioned before in previous posts it should only be used once all other options have been tried.
#5: Short sales are another option homeowners have to help stop the foreclosure process. You will still lose your home, but you will prevent a foreclosure on your record.
If you live in North Carolina and are struggling to pay your mortgage there is help available. The worst thing you can do is to simply do nothing. Don’t wait for the foreclosure notices to start coming before you ask for help. The sooner you reach out to one of the nonprofit housing counseling agencies in North Carolina the better your chances of preventing the foreclosure.
If you need to stop foreclosure on your North Carolina home, contact the home buyers at 800-BUY-KWIK. We purchase homes for cash within 24 hours.