Alternatives to A Short Sale?

1. Re-Amortization – Your lender may add missed payments to your balance and recalculate a monthly payment.

2. Re-Finance – The lender may agree to change the terms of the loan to reduce the monthly payment.

3. Forebearance – The lender will allow you to delay making mortgage payments for a small period of time but will add them to your loan.

4. Deed-in-Lieu of Foreclosure – The lender will take title to the house and may agree to waive a deficiency judgment against you. This will still be recorded as a foreclosure on your credit score.

5. Foreclosure – Proceedings in which the mortgage holder sells or repossesses the property. The lender will probably seek a deficiency judgment against the unpaid balance.