One way to possibly avoid foreclosure is to become a “reverse” real estate investor by starting with the house you already have.
Many homeowners overlook the fact that they have an asset which they can use to create income and cash flow. You might be able to resolve your current situation by simply renting out your home. If you can rent it to cover your monthly mortgage payment, it can certainly make a lot of sense to do this.
But even if the rental amount does not completely cover the monthly mortgage payment, it can still make sense. Only having to pay a little bit out of pocket per month is certainly easier than paying the whole mortgage, and you’ll retain your asset.
It’s not an easy decision, and it takes analysis and thought. I’m happy to help you determine how much rent you can expect to get, and whether it makes sense for you to consider doing or not. Just call me or send me an email so we can get started.