{"id":7268,"date":"2021-09-08T06:00:01","date_gmt":"2021-09-08T10:00:01","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=7268"},"modified":"2021-09-08T06:00:01","modified_gmt":"2021-09-08T10:00:01","slug":"understand-your-options-to-avoid-foreclosure","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=7268","title":{"rendered":"Understand Your Options To Avoid Foreclosure"},"content":{"rendered":"
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\"Understand<\/p>\n

Even though experts agree there\u2019s no chance<\/a> of a large-scale foreclosure crisis, there are a number of homeowners who may be coming face-to-face with foreclosure as a possibility. And while the overall percentage of homeowners at risk is decreasing with time (see graph below<\/em>), that\u2019s little comfort to those individuals who are facing challenges today.<\/span>\"Understand<\/a>If you haven\u2019t taken advantage of the forbearance period<\/a>, it may be time to research and understand your options<\/a>. It starts with knowing what foreclosure is. Investopedia<\/a> defines it like this:<\/p>\n

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\u201cForeclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property<\/strong>. Typically, default is triggered when a borrower misses a specific number of\u00a0monthly payments . . .\u201d\u00a0<\/em><\/p>\n<\/blockquote>\n

The good news is, there are alternatives available<\/a> to help you avoid having to go through the foreclosure process, including:<\/p>\n