Avoid an Auction Strategy:
Limited Income - Ability to Temporarily Relocate
If you are income challenged and can temporarily relocate, you may want to consider offering the home for lease in order to bring loan current and cover monthly payments. You'll have the option to end the lease and take possession of home at a later date.
Benefits of Leasing Home
Bring Loan Current
Using measures that draw in a large down payment, you will have the necessary funds to bring loan current and stop foreclosure actions.
Mortage Payments Covered
Your tenant pays a monthly rent payment that covers your monthly mortgage payment plus additional cash flow for your savings.
Although you temporarily relocate, you maintain ownership of your home.