[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f2ge0uhn1tvrwi":3,"$f2emv3tus0uf1":43,"$fbwk2pqjjqsc7":47},{"item":4,"previous":31,"next":37},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":30},3606,"understand-your-options-to-avoid-foreclosure","Understand Your Options To Avoid Foreclosure","Even though experts agree \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F07\u002F28\u002F4-reasons-why-the-end-of-forbearance-will-not-lead-to-a-wave-of-foreclosures\u002F\">there’s no chance\u003C\u002Fa> 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 (\u003Cem>see graph below\u003C\u002Fem>), that’s little comfort to those individuals who are facing challenges today.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F09\u002F07113633\u002F20210908-KCM-Share.jpg","Even though experts agree \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F07\u002F28\u002F4-reasons-why-the-end-of-forbearance-will-not-lead-to-a-wave-of-foreclosures\u002F\">there’s no chance\u003C\u002Fa> 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 (\u003Cem>see graph below\u003C\u002Fem>), that’s little comfort to those individuals who are facing challenges today.\u003C!--more-->\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F09\u002F07113634\u002F20210908-MEM-Eng-1.png\">\u003Cimg class=\"aligncenter wp-image-45108\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F09\u002F07113634\u002F20210908-MEM-Eng-1.png\" alt=\"Understand Your Options To Avoid Foreclosure | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>If you haven’t taken advantage of the \u003Ca href=\"https:\u002F\u002Fwww.hud.gov\u002Fsites\u002Fdfiles\u002FSFH\u002Fdocuments\u002FIACOVID19FBFactSheetConsumer.pdf\">forbearance period\u003C\u002Fa>, it may be time to research and understand your \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F05\u002F12\u002Fits-not-too-late-to-apply-for-forbearance\u002F\">options\u003C\u002Fa>. It starts with knowing what foreclosure is. \u003Ca href=\"https:\u002F\u002Fwww.investopedia.com\u002Fterms\u002Ff\u002Fforeclosure.asp\">Investopedia\u003C\u002Fa> defines it like this:\r\n\u003Cblockquote>\u003Cem>“\u003Cstrong>Foreclosure 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\u003C\u002Fstrong>. Typically, default is triggered when a borrower misses a specific number of monthly payments . . .” \u003C\u002Fem>\u003C\u002Fblockquote>\r\nThe good news is, there are \u003Ca href=\"https:\u002F\u002Fwww.nerdwallet.com\u002Farticle\u002Fmortgages\u002Fwhat-is-foreclosure\">alternatives available\u003C\u002Fa> to help you avoid having to go through the foreclosure process, including:\r\n\u003Cul>\r\n \t\u003Cli>Reinstatement\u003C\u002Fli>\r\n \t\u003Cli>Loan modification\u003C\u002Fli>\r\n \t\u003Cli>Deed-in-lieu of foreclosure\u003C\u002Fli>\r\n \t\u003Cli>Short sale\u003C\u002Fli>\r\n\u003C\u002Ful>\r\nBut before you go down any of those paths, it’s worth seeing if you have enough \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F07\u002F23\u002Fpop-quiz-can-you-define-these-key-terms-in-todays-housing-market-infographic\u002F\">equity\u003C\u002Fa> in your home to sell it and protect your investment.\r\n\u003Ch4>\u003Cstrong>Understand Your Options: Sell Your House \u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Cstrong>Equity\u003C\u002Fstrong> is the difference between what you owe on the home and its market value based on factors like price appreciation.\r\n\r\nIn today’s real estate market, many homeowners have far \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F06\u002F23\u002Fhomeowner-wealth-increases-through-growing-equity-this-year\u002F\">more equity\u003C\u002Fa> in their homes than they realize. Over the last year, buyer demand has been high, but \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F08\u002F17\u002Fwhat-does-being-in-a-sellers-market-mean\u002F\">housing supply\u003C\u002Fa> has been low. That’s led to a substantial increase in home values. When \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F08\u002F16\u002Fa-look-at-home-price-appreciation-and-what-it-means-for-sellers\u002F\">prices rise\u003C\u002Fa>, so does the amount of equity you have in your house.\r\n\r\nAccording to \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Fintelligence\u002Fhomeowner-equity-insights\u002F\">\u003Cem>CoreLogic\u003C\u002Fem>\u003C\u002Fa>, on average, homeowners gained $33,400 in equity over the last 12 months, and the average equity on mortgaged homes is now $216,000 (\u003Cem>see map below\u003C\u002Fem>):\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F09\u002F07113636\u002F20210908-MEM-Eng-2.png\">\u003Cimg class=\"aligncenter wp-image-45109\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F09\u002F07113636\u002F20210908-MEM-Eng-2.png\" alt=\"Understand Your Options To Avoid Foreclosure | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\u003Cstrong>So, what does that mean for you?\u003C\u002Fstrong> Over the past year, chances are your home’s value and therefore your equity has risen dramatically. If you’ve been in your home for a while, the mortgage payments you’ve made over time chipped away at the balance of your loan. If your home’s current value is higher than what you still owe on your loan, you may be able to use that increase to your advantage.\r\n\r\nFrank Martell, President and CEO of \u003Cem>CoreLogic,\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Finsights-download\u002Fhomeowner-equity-report.aspx\">elaborates\u003C\u002Fa> on how equity can help:\r\n\u003Cblockquote>\u003Cem>“\u003Cstrong>Homeowner equity has more than doubled over the past decade and become a crucial buffer for many weathering the challenges of the pandemic.\u003C\u002Fstrong> These gains have become an important financial tool and boosted consumer confidence in the U.S. housing market.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Don’t Go at It Alone – Lean on Experts for Advice\u003C\u002Fstrong>\u003C\u002Fh4>\r\nTo find out what your house is worth in \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F07\u002F22\u002Ftodays-real-estate-market-explained-through-4-key-trends\u002F\">today’s market\u003C\u002Fa>, work with a local \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F06\u002F14\u002Fthe-right-expert-will-guide-you-through-this-unprecedented-market\u002F\">real estate professional\u003C\u002Fa>. We’ll be able to give you an estimate of what your house could sell for based on recent sales of similar homes in your area. Since home prices are still appreciating, you may be able to sell your house to avoid foreclosure.\r\n\r\nIf you find out that you have to pursue other options, your agent can help with that too. We’ll be able to connect you with other professionals in the industry, like \u003Ca href=\"https:\u002F\u002Fmyhome.freddiemac.com\u002Fbuying\u002Ffinding-your-team.html\">housing counselors\u003C\u002Fa> who can look into your unique situation and offer \u003Ca href=\"https:\u002F\u002Fwww.hud.gov\u002Ftopics\u002Favoiding_foreclosure\u002Fforeclosureprocess\">advice on next steps\u003C\u002Fa> if selling isn’t the best alternative.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you’re a homeowner facing hardship, let’s connect to explore your options and see if you can sell your house to avoid foreclosure.","\r\nIf you’re a homeowner facing hardship, let’s connect to explore your options and see if you can sell your house to avoid foreclosure.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F09\u002F07113634\u002F20210908-MEM-Eng-1.png",false,[17,21,25],{"id":18,"name":19,"slug":20},6,"For Sellers","sellers",{"id":22,"name":23,"slug":24},7,"Foreclosures","foreclosures",{"id":26,"name":27,"slug":28},9,"Home Prices","home-prices","2021-09-08T10:00:01Z","2021-09-08T10:00:02Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},3596,"reasons-you-should-consider-selling-this-fall","Reasons You Should Consider Selling This Fall","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F08\u002F31113502\u002F20210907-KCM-Share.jpg","2021-09-07T10:00:34Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},3607,"home-price-appreciation-is-skyrocketing-in-2021-what-about-2022","Home Price Appreciation Is Skyrocketing in 2021. What About 2022?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F09\u002F08114728\u002F20210909-KCM-Share.jpg","2021-09-09T10:00:03Z",{"cover":44,"open":45,"shareSpread":46},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[48,52,56,57,58,62,63,67,71,75,79,83,87,91,95,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155],{"id":49,"name":50,"slug":51},1,"Uncategorized","uncategorized",{"id":53,"name":54,"slug":55},5,"For Buyers","buyers",{"id":18,"name":19,"slug":20},{"id":22,"name":23,"slug":24},{"id":59,"name":60,"slug":61},8,"Infographics","infographics",{"id":26,"name":27,"slug":28},{"id":64,"name":65,"slug":66},11,"First-Time Buyers","first-time-buyers",{"id":68,"name":69,"slug":70},34,"Senior Market","senior-market",{"id":72,"name":73,"slug":74},35,"Mortgage Rates","mortgage-rates",{"id":76,"name":77,"slug":78},38,"Move-Up","move-up",{"id":80,"name":81,"slug":82},41,"For Sale by Owner","for-sale-by-owner",{"id":84,"name":85,"slug":86},42,"Featured","featured",{"id":88,"name":89,"slug":90},45,"New Construction","new-construction",{"id":92,"name":93,"slug":94},52,"Luxury \u002F Vacation","luxury--vacation",{"id":96,"name":97,"slug":98},53,"Rent vs. Buy","rent-vs-buy",{"id":100,"name":101,"slug":102},80,"Time-sensitive","time-sensitive",{"id":104,"name":105,"slug":106},81,"Outdated","outdated",{"id":108,"name":109,"slug":110},147,"Internal","internal",{"id":112,"name":113,"slug":114},148,"Do Not Autopost","do-not-autopost",{"id":116,"name":117,"slug":118},320,"Inventory","inventory",{"id":120,"name":121,"slug":122},321,"Agent Value","agent-value",{"id":124,"name":125,"slug":126},322,"Affordability","affordability",{"id":128,"name":129,"slug":130},323,"Buying Tips","buying-tips",{"id":132,"name":133,"slug":134},324,"Downsize","downsize",{"id":136,"name":137,"slug":138},325,"Economy","economy",{"id":140,"name":141,"slug":142},326,"Equity","equity",{"id":144,"name":145,"slug":146},327,"Forecasts","forecasts",{"id":148,"name":149,"slug":150},328,"Selling Tips","selling-tips",{"id":152,"name":153,"slug":154},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":156,"name":157,"slug":158},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]