106df5f8_ons_to_stay_out_of_foreclosure__3
[0] Short Sale/ Pre-foreclosure Sale [1] Sell off property to pay off the debt, though property value has declined to less than the money owed. Know moreâ¦ [2] Have a verified loss in income. Having negative equity of not more than approx. 63% of the unpaid loan balance. Occupies property as the primary residence. Non-occupant may qualify but have to prove that the need to vacate is related to default. [4] No serious damage to property. Even if damaged, cost of repair should not exceed 10% of the Repaired Appraised Value. Property should be able to be sold free and clear of liens. [3] 
One who is already behind on payments or likely to be behind soon.
Loss Mitigation options to stay out of foreclosure
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