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Know Your Homeownership Options When Facing Foreclosure

Know Your Homeownership Options When Facing Foreclosure

You want the benefits of homeownership, but if you’re facing foreclosure then you’re experiencing the low points of owning a home.

I’m here to help.

I’ve earned the respect of families of all ages looking for the best ways to own property and have an affordable home to raise kids or to retire well on a fixed income.

Let’s look at strategies to get you through this difficult time and move on. I work with homeowners across the nation and the time frames noted below may change slightly depending on the state you live in.

Know the Timing of Foreclosures

30 Days Late—Notice of Default

If your payment is more than 30 days late then you’ve received likely received a notice of default from your lender. Are you getting annoying calls and letters asking when you’ll make your payment?

This is the beginning of the process.

What to Do

It’s tempting to ignore the calls and letters but communicating with your lender is absolutely key. Some will say to “reach out before your payment is even due to discuss your options” (

Your lender may be able to work with you—perhaps negotiate a slightly lower rate or adjust your payment schedule. The more you communicate, the more likely you are to work out a possible solution.

120 days late—Foreclosure Process

This is where the lender wants to sell your home and recoup whatever equity there is and satisfy the loan requirements or take a loss in a short sale.

Let’s look at what to do within this 30-day to 120-day time frame.

Plan and Project Your Situation

If you’ve missed a payment, then it’s time to plan and project to you understand your situation.

What do you see happening with your income and your ability to repay?

If you’re expecting a raise, bonus, or you’ve taken on a second job and expect that you can meet your loan obligation then let your lender know right away. Get back on track.

What happens if you are looking ahead for the next few months and don’t see any changes?

Then it’s best to talk with a specialist like myself and take specific steps. Let me help you shoulder some of the stress so you don’t have to face it alone.

1. We’ll look at how much equity your home has and the current market value. The more equity you have then the more leverage you have with your lender.

2. I’m able to communicate with your lender to determine their willingness to negotiate. I have over 30 years of real estate experience ranging from international transactions, to investments, and purchasing land so I’m familiar with processes and how lenders think.

Let’s see what we can pull from your existing home so you can get out from under the burden of missed payments.

3. Come up with an alternative living situation and homeownership plan. Perhaps there are affordable apartment or home rentals to select for a temporary period of time.

I’ll gladly share what I know or steer you to resources that you can find helpful. A specialty I’ve developed is buying and selling land as a strategy for affordable homeownership at any age.

What about Covid-19 Foreclosure Moratoriums?

Those programs are coming to an end which is why we see foreclosure rates going back up to normal levels.

You’ll find a link to the Housing and Urban Development (HUD) description and timeframe of the programs below. The forbearance programs were for those affected by Covid and meant you eventually had to pay your loan.

Think Fresh

Think outside the box of what a traditional quality home looks like—the sprawling country ranch or a nice red brick two-story with perfectly manicured grounds.

I’m bullish on manufactured homes or affordable, modular homes placed on vacant lots or properties that are affordable.

Yes, you can have a quality home since today’s manufactured homes can be the same size or larger than many single-family homes.

Scroll down for a link to my past posts discussing this and a link to the Manufactured Housing Institute.


During this time, I know you’ll be flooded with letters from people wanting to help you. Who do you trust?

Experience is a great teacher and I have plenty of ups and downs to help me empathize with your situation. I’ll help you complete your business but I do it with an understanding of what home means to you personally.

Contact me and let’s discuss your situation and see if there are ways I can help.

In the meantime, download for free Your Guide to Buying Land, the Heart and Soul of America and get to know some people who have worked with me.


Check out these free resources to get a better understanding of your situation and what you can do:

Cantu Land Plus Blog Posts

Third-Party Resources


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