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Keep Your Home with our 90 Day Buy Back Program? or Refinance with NO CREDIT CHECKING!!
Final payoff amount on your last bill. (must be previous month)
What is your reinstatement fee costs? (See Below)
What amount do you want
Can You Reinstate Your Mortgage After Foreclosure?
If the foreclosure process has already started, it can become more expensive to pursue a mortgage reinstatement. But a loan reinstatement strategy could stop the foreclosure process in its tracks.
Typically, a lender that has started the foreclosure process will include any costs associated with the foreclosure in the reinstatement quote. These costs could include property inspection fees, attorney fees and recording fees.
However, you may still have the opportunity to pursue mortgage reinstatement after the property has entered the foreclosure process. But once the foreclosure sale is finalized, you may no longer be eligible to reinstate your mortgage.
If your home is in foreclosure, reach out to your lender. They will be able to provide details on the mortgage reinstatement options that are still available to you
The loan reinstatement process allows you to restore your loan. With that, you will resume making regular mortgage payments. Importantly, you would keep your home and remove the threat of foreclosure, assuming that you can now keep up with your mortgage payment.
On the other hand, a loan payoff would entail paying for the entire mortgage outright. In this case, you would also stop any foreclosure proceedings. However, you would need to come up with a significant amount of money to cover the outstanding balance of your mortgage loan.
A loan payoff is likely the more expensive strategy. But it would permanently remove the threat of foreclosure by your lender because you will no longer have a mortgage to make payments on. However, you could still face foreclosure if you have delinquent homeowners association fees or a second mortgage on the property.