{"id":1392,"date":"2021-07-20T00:00:00","date_gmt":"2021-07-20T05:00:00","guid":{"rendered":"https:\/\/chrisbuyshomesstlseller8.carrot.com\/?p=1392"},"modified":"2025-02-15T15:32:37","modified_gmt":"2025-02-15T15:32:37","slug":"help-for-foreclosure-in-indianapolis","status":"publish","type":"post","link":"https:\/\/www.chrisbuyshomesindy.com\/blog\/help-for-foreclosure-in-indianapolis\/","title":{"rendered":"Help For Foreclosure In Indianapolis – 3 Ways To Avoid Foreclosure"},"content":{"rendered":"Few things are more devastating to families than the prospect of foreclosure. You own your home and you love it — it serves you well. Yet, due to unfortunate circumstances, foreclosure may seem\u00a0imminent.\n\nFor local IN families facing foreclosure, the stress can be almost unbearable. Worse yet, the foreclosure process can take months or even years, stretching out the pain for longer than anyone wants.\n\nFortunately, you have options available to you here in IN — perhaps more options than you realize. There are many strategies that help for foreclosure in Indianapolis; these are legal foreclosure avoidance strategies you can implement to help you resolve your foreclosure issue so you can get on with your life.\n\nIn this blog post, you’ll read about 3 ways that you can avoid foreclosure (there are other ways to avoid foreclosure as well). The goal of these strategies is to help you legally and ethically avoid foreclosure and reducing the pain and frustration that you’re facing, while minimizing any long-term financial commitment or burden to you. Not all of these strategies will apply in every situation but you’ll probably be able to find at least one of the three ways that will work for you.\n

Strategy #1: Work out a deal with your lender<\/h2>\nThe first strategy is called a “foreclosure workout”. In a foreclosure workout, you’ll sit down with your lender and tell them that you don’t think you can pay your current mortgage obligation but you’d like to figure something out so you can stay in your house and continue to pay your mortgage.\n\nContrary to popular belief, lenders don’t want to foreclose! They want happy customers who pay their mortgages, so lenders are often willing to work with homeowners to figure out a deal. This might include a temporary reprieve on your mortgage payments, or it might include a catch-up strategy where your outstanding mortgage payments are spread out so you can catch-up and pay them off, or it might include a restructuring of the outstanding amounts that you owe.\n

Strategy #2. Bankruptcy<\/h2>\nFiling for bankruptcy may seem like an extreme measure but it is one of the “tools” in your foreclosure avoidance toolbelt. When you file for bankruptcy, you indicate to all of your creditors that you are no longer able to pay your bills. Filing for bankruptcy will put a stop to the foreclosure process because all creditors must stop the collection process.\n\nFiling for bankruptcy, though, is a little extreme: it may require you to sell off some of your assets in order to pay off your creditors. And, a bankruptcy will remain on your credit score for many years, which could impact everything from getting a loan to getting a car… even getting a job. So this shouldn’t be your first line of defense!\n

Strategy #3. Short sale help for a foreclosure in Indianapolis<\/h2>\nA short sale is the third strategy — this is where you sell your home and put the proceeds of the sale toward the amount owing on your mortgage loan. A short sale is a preferred method for people facing foreclosure because it is proactive, fast, and very effective.\n