Ways to avoid foreclosure
Avoiding the closure, it can be realized in various ways. You need to decide which solution is best for your current financial situation. The lenders will probably reject your loan application after considering the presence of foreclosure on the credit report.
Even if you are approved for a bad credit loan lenders, you will receive a loan with high interest rates. So in order to avoid high interest loans, you need to stop foreclosure.
Viable solutions CitiMortgage
If you are unable to make mortgage payments for about two months, you will automatically receive CitiMortgage viable solutions that must be filled by you.
Some of the solutions that you can expect lenders are:
Reducing interest rates - this will probably be difficult to get the creditors,
Mortgage Patience with patience, you can stop the mortgage payments for a few months. So you can start paying again the difficulties die
After ensuring that all fields are properly filled out the form, send it to the mitigation of loss. There are two main reasons why the lender to reject your application. Situations worsen after this step, Failure to submit the required documents - If you proof tax returns, you will increase the chances of approval.