When the Right Tool Can Save a Home

[David Litt]

One of the most surprising things I’ve learned about foreclosure is how often homeowners don’t realize what financial tools are available to them.

Options like:

• Loan modifications

• Reinstatement plans

• Refinancing if there’s equity

• Temporary forbearance agreements

I’ve seen situations where just understanding these possibilities completely changed the outcome — from losing the home to keeping it.

For those of you with experience in this space:

• Have you seen lenders willing to work with homeowners more often lately, or less?

• Do you think most people know these tools exist?

• Which financial option do you think is the most underused?