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How To Avoid Foreclosure

Monday, December 26, 2022   /   by Toi Holliday

How To Avoid Foreclosure

If you are facing the unfortunate window of foreclosure and can no longer afford to make payments on your home, or investment property, you are not alone and may have options. 

Immediately contact your loan servicer or bank in which you are making your mortgage payments to. Briefly explain your situation and ask about your available options.

Here are some options that may be presented to you:
Repayment Plan, Loan Modification, Refinance, Short Sale, Standard Sale.


A repayment plan lets you spread out your past due amount over several months being added to your current mortgage to bring it current.


A loan modification is a change to the original terms of your mortgage loan and does not pay off your current mortgage. For example, the modification may include extending your loan term, modifying your interest rate, or changing your loan from adjustable to a fixed rate term.  


Refinancing is when a property owner gets a new mortgage loan to replace the current loan. Most people refinance in order to get a lower interest rate and lower mortgage payments.

If you are facing foreclosure, it's important to take actions now. If you standby and do nothing you will lose your home and ruin your credit.  If you take actions now, it's possible to save your home, walk away in good standing or sale the property and put some money in your pocket. 

For more information on how to handle your distressed property, download my free homeowner's guide today!

How To Avoid Foreclosure 

Toi Holliday Team
Toi Holliday
251 N. Larchmont Blvd.
Los Angeles, CA 90004
DRE# 02018834

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