Benefits of Delaying Foreclosure
There arew many benefits that one can realize by simply delaying the foreclosure on ones home.
Assuming thatv a homeowner has the means to delay foreclosure for as long as possible then that homeowner mayb hyave rthe ability to realize the following benefits listed below.
- More time at home.
- Time to save for the new life away from home.
- The extra time before foreclosure may prove long enough for the homeowner to find a solution that either allows them to stop foreclosure via a foreclosure alternative such as a short sale.
- The extra time allows them to escape the foreclosure and make home affordable by lowering their monthly mortgage payment through some sort of mortgage solution and they are then able to keep their home. This may be through a loan modification.
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