I’m in a rough spot.
Three months behind on my mortgage and just got the scary letter in the mail. I’m in Oklahoma and freaking out that the bank’s about to kick off foreclosure any day.
Been googling my options, loan modification is out there, but holy crap, the paperwork takes forever. There’s the short sale route, but I really don’t want to nuke my credit for the next seven years.
A couple neighbors said just sell to an investor ASAP to dodge foreclosure on my record. Found sites that buy for cash in OKC. Not sure… maybe that’s a way to pay the bank and walk with a little cash before the sheriff sale goes down?
Really don’t want to lose everything here.
Should I even try to fight this in court or is it better to just sell and move on? Anyone actually dealt with a judicial foreclosure and lived to tell the tale?
3 months late on my mortgage – am I totally screwed or is there still hope?
byu/krikond inrealestateinvesting
Posted by krikond
3 Comments
90 day late on your mortgage is going to tank your credit regardless. If you’re not underwater sell now and walk away with at least something, there’s no fighting foreclosure for nonpayment in court
Man why’d you wait so long
What you gonna fight in court about? You missed 3 mortgage payment, right?
I would sell to whoever you can sell to as long as it’s more than your mortgage, and of course sell to the highest offer and done with this house