Are you one of the 1,000’s of Homeowners in Distress
Selling a home under stress is overwhelming but you are not alone.
At Property Outlet, we’ve helped hundreds of Florida homeowners navigate foreclosure threats, job loss, divorce, unexpected repairs, high interest rates, probate issues, and overwhelming mortgage payments.
Good news is you have options and in fact more than you think
When homeowners face distress, they often believe foreclosure or bankruptcy are the only paths, but in reality, there are at least eight major alternatives, and each has strategic and financial benefits depending on your situation.
Property Outlet specializes in strategic real estate solutions designed to protect your equity, stop losses, and avoid long-term credit damage.
You can’t keep the home or want to sell it
If keeping the property is no longer a realistic option, you still have multiple strategies that can help you avoid foreclosure, protect your credit as much as possible, and regain financial stability.
If You Want to Keep Your Home
If you’re facing financial hardship, you still have options that may allow you to keep your property and avoid foreclosure. Many homeowners don’t realize that lenders often offer solutions to help you stay in your home while you recover financially.
I can’t keep the home or want to sell it
Traditional Sale
Cash Buyer or Investor Sale
Short Sale
Deed in Lieu of Foreclosure
selling your home Option #1
Traditional Sale (If You Have Equity)
If your home has equity, a traditional sale may be the simplest and most financially beneficial exit strategy. This means the market value of your home is higher than the amount you owe.
How it helps:
- You avoid foreclosure entirely
- You receive your remaining equity in cash at closing
- Your credit is not negatively affected like a foreclosure or short sale
- You can negotiate timelines and relocation assistance
- This allows a fresh financial start
At Property Outlet, we perform a full equity and market evaluation to determine whether you qualify for this option and how much you may walk away with at closing.
Selling your home Option # 2
Cash Buyer or Investor Sale
For homeowners needing a faster and less complicated solution, selling to a cash buyer or investor may be ideal.
How it helps:
- Fast closing (as little as 7–14 days)
- No repairs, cleaning, or showings required
- No appraisal delays
- Option to negotiate “post-occupancy” if you need extra time to move
- May stop foreclosure depending on where you are in the process
Cash offers may be slightly below market value, but they provide speed, certainty, and stress-free processing—ideal for urgent financial situations.
Selling your homeOption #3
Short Sale
A short sale is a solution for homeowners who owe more than the property is worth and cannot afford the payment.
Benefits of a Short Sale:
- Helps you avoid foreclosure
- Reduces the negative impact on your credit
- May allow full debt forgiveness (depending on lender approval)
- Fannie Mae waiting period to buy again is only 2 years, much shorter than after foreclosure
Property Outlet works directly with your lender to negotiate approval and protect you from deficiency judgments whenever possible.
Selling your home option # 4
Deed-in-Lieu of Foreclosure (Friendly Foreclosure)
With a deed-in-lieu, you voluntarily return the home to the lender in exchange for the cancellation of the mortgage debt.
Important notes:
- You must receive lender approval
- Not available if you have multiple loans
- Some lenders require the home to be listed for sale first
- Waiting period for future homeownership through Fannie Mae is around 4 years
This option may cost less to your credit than a formal foreclosure, but in most cases, a short sale provides better long-term results.
Do you know the value of your Home?
Order your complimentary Home Value Analysis Order Your Home ValuationI want to keep my home, What can I do?
Reinstatement
Rent Your Home
Loan Modification
Refinance
Forbearance
Bankrupcy
Keeping your home Option # 1
Bring Your Payments Current (Reinstatement)
Reinstatement means paying your lender everything past due, including missed payments, late fees, penalties, and legal costs.
Although this can be difficult, some homeowners use:
- New employment income
- Assistance from family
- Bonuses or tax refunds
- The sale of other assets
Important:
You can reinstate your mortgage up until the day before the foreclosure sale, and you do not need lender approval to do so.
This is the fastest path to restoring your loan to good standing.
Keeping your home Option # 2
Rent the Property
If your mortgage payment is low enough, renting the home may allow you to generate income to cover the mortgage.
Before choosing this option, consider:
- Property taxes
- Insurance
- Repairs & maintenance
- Tenant laws & responsibilities
For some homeowners, renting provides enough income to keep the property long-term, even if they choose to live elsewhere.
However, it is not ideal if rental income cannot fully cover the true cost of ownership.
Keeping your home option # 3
Loan Modification
A loan modification permanently changes the terms of your mortgage to make monthly payments more affordable. A lender may agree to:
- Add missed payments to your loan balance
- Reduce your interest rate
- Extend your loan term (e.g., from 30 years to 40 years)
- Convert an adjustable-rate mortgage into a fixed rate
To qualify, homeowners must provide full financial documentation, including income, expenses, assets, and hardship explanation.
Some owners with significant debt (credit cards, auto loans, medical bills) may not qualify, so review your financials carefully.
A loan modification is often one of the most effective tools for people who want to keep their home but cannot afford a reinstatement.
Keeping your home Option # 4
Refinance
If you have sufficient equity and your credit is still in good standing, refinancing into a new loan may lower your payment and stabilize your situation.
However, refinancing is only possible when:
- The home’s value has not dropped below your loan balance
- You meet lender credit and income guidelines
- You can cover the closing costs (or roll them into the loan)
Homeowners who purchased with little or no money down or whose home value has declined may not be eligible to refinance.
Keeping your home Option # 5
Payment Plan (Forbearance)
A forbearance plan allows you to make a reduced payment—or no payment at all—for a temporary period, depending on your hardship.
This option provides time to:
- Recover from illness or job loss
- Pay down other debts
- Stabilize income
- Rebuild financial reserves
At the end of the forbearance period, you must resume regular payments and also repay the past-due balance through:
- A repayment plan
- A deferral
- A modification
- Or a reinstatement
Active-duty military members may qualify for special mortgage relief protections under federal law.
Keeping your home Option # 6
Bankruptcy
Bankruptcy can temporarily delay foreclosure—often for up to six months—and may restructure some of your debts.
It is typically an option when:
- Non-mortgage debt is overwhelming
- Eliminating unsecured debt would allow you to afford your mortgage
- You need time to reorganize your finances
However:
- Bankruptcy is expensive
- It severely impacts your credit
- It can only be used every seven years
- It does not solve the problem if the mortgage itself is unaffordable
Many homeowners who choose bankruptcy still face foreclosure later if the loan is not sustainable.
Property Outlet | Fair | Transparent | Empowered
Office
11681 Orange Blossom Trail Orlando, Florida 32837
Phone Number
(407) 723 7000
Business Hours
(M-F) 9:00 AM – 5:00 PM
(S-S) by Appointment
