Options Beyond Fighting in Court
We defend every case to win, but we also plan an exit. Knowing your alternatives early gives you leverage and keeps your choices open.
| Option | What it is | Best when | Watch out for |
|---|---|---|---|
| Loan modification | Lender changes rate, term or balance to make payments affordable | You want to keep the home and have steady income | Servicer delays, trial plans that never go permanent |
| Reinstatement | Pay the past-due amount plus costs to bring the loan current | You can raise a lump sum early in the case | Inflated fees in the payoff figure |
| Short sale | Sell for less than owed with lender approval | Home is underwater and you're ready to move | Deficiency. Get a written waiver. |
| Deed in lieu | Transfer the home to the lender instead of a sale | You want a faster, quieter exit | Same deficiency risk; lender must agree |
| Consent foreclosure | Agree to judgment in exchange for no deficiency | You want the case over with no future debt | Lose redemption rights; terms must be written |
| Cash for keys | Lender pays you to move out by a set date | Keeping the home isn't possible | Condition and timing requirements |
| Refinance or sale | Pay off the loan with new financing or a market sale | You have equity worth protecting | Redemption deadline |
Loan modification
Lender changes rate, term or balance to make payments affordable
- Best when
- You want to keep the home and have steady income
- Watch out for
- Servicer delays, trial plans that never go permanent
Reinstatement
Pay the past-due amount plus costs to bring the loan current
- Best when
- You can raise a lump sum early in the case
- Watch out for
- Inflated fees in the payoff figure
Short sale
Sell for less than owed with lender approval
- Best when
- Home is underwater and you're ready to move
- Watch out for
- Deficiency. Get a written waiver.
Deed in lieu
Transfer the home to the lender instead of a sale
- Best when
- You want a faster, quieter exit
- Watch out for
- Same deficiency risk; lender must agree
Consent foreclosure
Agree to judgment in exchange for no deficiency
- Best when
- You want the case over with no future debt
- Watch out for
- Lose redemption rights; terms must be written
Cash for keys
Lender pays you to move out by a set date
- Best when
- Keeping the home isn't possible
- Watch out for
- Condition and timing requirements
Refinance or sale
Pay off the loan with new financing or a market sale
- Best when
- You have equity worth protecting
- Watch out for
- Redemption deadline
A short sale or deed in lieu can have tax consequences. Talk to a tax professional before signing.
This page is general information, not legal advice. Every case is different.
Want to know which option fits?
Call +1 (555) 555-5555 for a free case review.