Stop Foreclosure

If saving your home is your goal, we can help! We work with many national lenders who specialize in refinancing homeowners who are behind on payments. We will work diligently to find the best loan product for you.

Foreclosure is one of the most devastating financial challenges that a family can face, but it is in actuality something that many times can be avoided. There are many options available to residents who are trying to stop foreclosure.

At Nickel City Buyers, LLC we take the time to meet with homeowners and explain all of their options to stop foreclosure and avoid foreclosure. If this program interests you, please speak with us today at 716-261-2274 because the longer you delay the more difficult it will be to qualify!

Options to Stop Foreclosure


A reinstatement is the simplest solution for a foreclosure; however, it is often the most difficult. The homeowner simply requests the total amount owed to the mortgage company to date and pays it including any additional fees or fines. This solution does not require the lender’s approval. As a homeowner you can ‘reinstate’ a mortgage up to the day before the final foreclosure sale.

Forbearance or Repayment Plan

A forbearance or repayment plan is when the homeowner negotiates with the mortgage company to allow them to make payments over a period of time. The homeowner typically makes their current mortgage payment in addition to a portion of the back payments they owe, plus any additional fees incurred. Some mortgage companies will check to see if you ‘qualify’ for forbearance.

Mortgage Modification

A mortgage modification involves the reduction of one of the following: the interest rate on the loan, the principal balance of the loan, the term of the loan, or any combination of these. These typically result in lower payments to the homeowner and a more affordable mortgage. This has become very common in today’s economy and many lenders are taking pro-active steps to modify loans.

Rent the Property

A homeowner who has a mortgage payment that is lower than market rent has the option to be able to rent their property and use the rental income to pay the mortgage.

Deed in Lieu of Foreclosure

A deed in lieu allows the homeowner to return the property to the lender rather than go through the foreclosure process. Lender approval is required for this option and the homeowner must also vacate the property. This is sometimes referred to as the “Friendly Foreclosure.”


Many have considered and marketed bankruptcy as a ‘stop foreclosure solution,’ but this is only true in some States and situations. A bankruptcy usually only creates a temporary “stay” of foreclosure. If the homeowner has non-mortgage debts that cause a shortfall of paying their mortgage payments and a personal bankruptcy will eliminate these debts, this may be a viable solution. Bankruptcy can be costly and damaging to your credit. Please consult a bankruptcy attorney to see if this is the most viable option for your current circumstance.


If a homeowner has sufficient equity in their property and their credit is still in good standing, they may be able to refinance their mortgage. However, in today’s economy and real estate market this is not the case, and refinancing while you are behind on payments is not realistic.

Sell the Property:

Homeowners with sufficient equity can list their property with a qualified real estate agent that understands the foreclosure process in their State and area. In many cases today, homeowners do not have the equity necessary to sell their property without negotiating a short sale. You can sell, even if you owe too much on the mortgage. Do you owe more on your mortgage than the house is worth? You’re not alone! There is a large percentage of homeowners in the area who owe more on their mortgage than what their house is worth. But what if you want to sell your house? What if you just can’t afford to throw good money at bad money any longer? There is a solution for you that you MIGHT NOT know about; it’s called a short sale.

Again, these are some of the most common options when trying to stop foreclosure. Nickel City Buyers, LLC can help you determine if you can Keep Your Home and stop foreclosure or if you have to sell your home to avoid foreclosure. We will also personally meet with you to help assess your current and unique situation. Fill out the form to the right to inquire further!


Before using our services, consider the following information: Nickel City Buyers, LLC cannot charge you any upfront fees in conjunction with providing you any type of mortgage assistance relief service.

Nickel City Buyers, LLC is NOT associated with any government agency or program and our company is NOT approved by the government or your lender(s). You may stop doing business with us at any time with regard to: the short sale, our short sale negotiation services (if any), or real estate brokerage services (if any). If you stop paying your mortgage, you could lose your home and damage your credit rating.


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