The prospect of foreclosure is one of the most terrifying experiences that one can experience in life. It is a specter that instills ordinarily stable, optimistic people with a cold, numbing fear that creeps inside and takes over your every thought.

When you’re facing foreclosure or even the possibility of foreclosure, you can’t focus on anything else.

Watching TV only goes so far before the mind wanders trying desperately to craft an appropriate solution.

Owning a home is at the crux of the very concept of the American Dream. People work for years on end to save enough money and build up enough credit to qualify for a loan and buy their own homes.

For many Americans, that home represents more than a place to live, it’s the place where they raised their kids and watched them grow up, it’s a place that’s laced with countless memories, some good some bad, but memories all the same.

A home is imbued with the very fabric of our lives. All of this makes the possibility of losing it seem world-breaking and unbelievably painful.

Here are five things you can do to try and avoid foreclosure.

Apply for a Short Term Loan

One of the fastest ways to raise money quickly enough to satisfy a bank’s demands and avoid foreclosure is to apply for a short-term loan.

There are a variety of different types of short-term loans including payday loans, and title loans.

Payday loans are essentially cash advances in which borrowers are awarded a sum of money that is to be paid back out of the proceeds from their next paycheck.

A title loan is an arrangement in which someone puts up the title to their vehicle as collateral in exchange for financing.

The only good thing about short-term loans is the fact that they’re incredibly easy to qualify for even if you have abominable credit.

The list of cons is much longer comparatively. Most short-term loans have incredibly high-interest rates and some of these loans are practically designed to ensure that the borrower has little or no chance of repaying the debt.

This is especially typical of title loans.

Ask Your Family for Money

Nobody likes the idea of having to ask their family for money, and yet, sometimes this is the only option to avoid foreclosure.

If your family is willing and able, they can save you from being forced out of your own home.

The only downside is that your family could always say no, not to mention the possibility that they might not have the money either.

Make your House Payment with a Credit Card

When between a rock and a hard place you could try paying your house payment with a credit card, but it’s not a particularly pleasant option.

That’s because most banks won’t accept a credit card payment, however, you can make a mortgage payment using a credit card through a third-party payment processing service like Plastiq.

Keep in mind, you will be charged a 2.5% fee which will only add to your overall debt.

Sell Your Valuables

If you have jewelry, collectibles, or an extra vehicle, you can always sell these things off to raise the money that you need to pay your house payment before the bank motions for foreclosure.

Of course, the only problem with this solution is the possibility that you might not have anything valuable enough to sell to stall the foreclosure.

Even if you do have something to sell that would raise enough money, it might just be too sentimental to sell.

What could be sentimental enough to risk losing your house you ask? There are all kinds of things.

• Your wedding ring

• The classic car that you built with your father decades ago as a kid

• Your Grandmother’s jewelry

• Etc.

There is always another way, and one of the best ways to avoid foreclosure is to sell your home for a cash offer.

Accept a Cash Offer From A Direct Home Buyer

After looking it over, if none of the preceding options sound particularly appealing to you, there is another way, a better way.

Local Home Buyers like Contenza Properties buy homes from distressed owners and provide cash offers.

Although you will still need to find another home, you will have the luxury of holding your head high by paying off your debt and perhaps having a little something extra for your troubles.

Best of all, you will be free.

Find freedom from foreclosure by calling Contenza Properties and asking about qualifying for a cash offer today!

We always recommend seeking proper legal advice from a licensed attorney if you have any questions, and are unsure of the route you want to take.