In some cases when people have lost their homes to foreclosure they have decided to let an investor to buy their home. The reason they have done this is that is may give them a chance to stay living in their home under an agreement where they make a monthly payment to the investor. Many investors are keen to do this because not only do they get themselves a profitable property but they also don't need to worry about finding somebody to live there.
People who are lucky enough to get an investor to purchase their home have a good chance of being able to stay in their home even after foreclosure. Investors in foreclosure homes are usually quite knowledgeable about what is involved and it could even be useful to contact them to see if they can give you some helpful information.
Anything you can do to remain living in your home even after foreclosure is going to be beneficial to you because you get to stay living in the same place as you had already planned to. There are still a few other avenues to explore though that might make it possible to prevent the mortgage company from foreclosing your home.
For some people just the reassurance that they have other options other than to give up and resign themselves to foreclosure can be a great comfort. If you are able to take the initiative and be proactive about things from the start you may find that you will get the chance to discuss your finances with the mortgage company and work out a way of keeping your home safe from the threat of foreclosure.
Another important thing to be aware of is that you could consider taking out a loan to help you get caught up on your missed mortgage payments. This would definitely get the mortgage company off your back since you would be resuming your monthly payments. When considering a loan though always make sure that you research everything about it fully because you do not want to end up in a worse financial position than you already are.
The threat of foreclosure is of course something very serious but just remember that it isn't the end of the world and there is no need to panic. If instead you take the time to find out a little more about your options then you will be in a position where you are aware what can be done to prevent it.
