Sep 10 • General discussion
Need some advise on a pre foreclosure.
I have a homeowner that is in pre foreclosure. She took forbearance during covid and now the lender is calling it due. She says she can afford the mortgage but does not have the lump sum for the forbearance. She has tried to restructure her loan but the lender does not want to. The lender is also not accepting her mortgage payments. She is leaning towards going Chap 13.
She currently owes $82k and her monthly payments are $1715.00. She has high equity. On propstream the value of the house id $418k with $336k in equity.
I think she can be helped by getting funds to pay off what she owes, then have her sign a right to purchase the house at some time in the future for a pre-agreed amount.
What are her other options?
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Need some advise on a pre foreclosure.
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