Facing foreclosure can turn home ownership from the American dream to the American Nightmare. Even though foreclosure rates have dropped significantly since the height of the housing market collapse a few years ago, there are still a substantial numbers of bank owned properties in Rexburg and throughout Eastern Idaho.
If you have missed some mortgage payments and are worried about the possibility of foreclosure, we have some options you should consider:
Facing foreclosure is stressful. As you weigh the pros and cons of "workout" options, keep in mind that the worst thing you can do is to simply stop making payments. Your choices depend on whether you must move (in cases of transfer to a new location or buying a new home) or you really want to stay. Whether you conclude that keeping your home is worth it, no matter how hard it might be in the short term, is another matter. One of our Rexburg real estate agents can help. Give us a call today.
Every situation is different, but if there is any way we can help, please don't hesitate to contact us. Foreclosure proceedings not only endanger your home, but they are stressful and have a negative impact on your credit for the long term.