Facing foreclosure on your home is an emotional and stressful time. Your closeness to the situation can often make it difficult to think calmly and sensibly about finding the right solution to avoid repossession. However, there are actually many options available to you, depending on your particular situation.

If you wish to keep your home as your residence, your options are a bit more limited. You can refinance your mortgage to keep your home, but this will be costly and can possibly create an even larger mortgage payment that you cannot make. You can also sell your home to family or friends that will allow you to stay in the home rent free, or for a reasonable amount. If neither of these options are available, you can seek out home buying companies that will allow selling and then rent back of a home. This way you can keep your home, and get the price from the house that you need to pay off the bank.

If you do not wish to keep your home as your residence, you have many more options. You could sell your house in the traditional manner, but this may result in a lengthy time frame that could push you past the deadline of repossession. You really need to sell your house quickly. The best way of getting a quick property sale is to go through a home buying company, who will give you close to fair market value for your home, and complete the sale within a week or two.