When You Need Options, Start With Understanding Them

Falling behind on mortgage payments can be stressful, especially when you are unsure what happens next.

Pre-foreclosure does not necessarily mean you have run out of options. Depending on your circumstances, there may be different paths available, including selling the property, exploring a short sale, or working with your lender and other professionals to address the situation.

WIRR can help you understand the real estate options available to you and take the next step with greater clarity.

Pre-foreclosure generally refers to the period after a homeowner has fallen behind on mortgage payments and the foreclosure process has begun, but before the property is taken through a completed foreclosure sale.

The timing and process can vary, and homeowners should seek appropriate legal and financial advice regarding their individual circumstances.

The important thing is not to ignore the situation.

Understanding your options early can give you more time to consider your next step.

Every homeowner's situation is different. Our role is to help you understand the real estate side of your options and connect you with the appropriate professionals when additional legal or financial advice is needed.

Understanding Your Situation

We can help you understand what selling your property could look like and what information may be needed to assess your options.

Exploring a Property Sale

In some situations, selling the property may be an option. WIRR can help you understand the selling process, prepare the property for market and navigate the transaction.

Short Sale Guidance

When the amount owed on a property is greater than its potential sale price, a short sale may be one option to explore. Short sales involve lender approval and can have important legal and financial implications.

WIRR can help you understand the real estate process and connect you with the appropriate professionals.

Connecting With the Right Professionals

Pre-foreclosure situations can involve legal, mortgage and financial considerations. Where appropriate, we can help you identify the types of professionals you may need to speak with, including attorneys, lenders, housing counselors and financial professionals.

You do not need to have everything figured out before reaching out.

If you are concerned about your mortgage, have received foreclosure-related notices, or are simply trying to understand what your options may be, starting a conversation can help you identify the next steps.

A Simple Starting Point

1. Understand where you are
Gather your mortgage information and any notices or correspondence you have received.

2. Understand your options
Consider whether keeping the property, selling it or another solution may be appropriate for your circumstances.

3. Get the right advice
Speak with qualified legal, financial or housing professionals about matters that go beyond the real estate process.

4. Make a plan
Once you understand your options, you can decide what steps to take next.

If selling your home may be an option, WIRR can help you understand the process from a real estate perspective.

We can discuss your property, the local market and what preparing the property for sale may involve.

Talk to WIRR About Selling

WIRR provides real estate guidance and support. We are not a law firm, lender, financial advisor or housing counselor, and the information on this page should not be considered legal or financial advice.

Foreclosure laws, timelines and homeowner rights can vary. If you are facing foreclosure or have received legal notices, consider speaking with a qualified attorney or HUD-approved housing counselor about your specific situation.

If you are facing a difficult situation with your property, you do not have to begin with all the answers.

Tell us what you are dealing with and we can help you understand the real estate side of your options and identify the appropriate next step.