Options to Foreclosure

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• Repayment Plan
• Forbearance
• Loan Modification
• Deed In Lieu of Foreclosure
• Partial Claim - available only for HUD loans
• Short Sale
  In a short sale, you sell the house for less than you owe. You can't do a short sale without the lender's permission.
  
  With a short sale, you make necessary repairs to the house; pay the real estate commission, taxes and government fees; and give the lender whatever money is left over - a partial payment.
  
  Effect of a short sale on your credit record: Severe
  


• Bankruptcy

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