An inquiry, listing, or purchase agreement is not proof that foreclosure has been paused. If a sale date, lawsuit, or response deadline appears on a notice, contact your servicer and a qualified local attorney promptly. Do not wait for a buyer's response to seek help.
Check your options for keeping the home
The Consumer Financial Protection Bureau recommends contacting your mortgage servicer right away and a HUD-approved housing counseling agency for free foreclosure-prevention assistance. Explain whether your difficulty is temporary or ongoing and ask what information is needed to evaluate available options.
Programs and eligibility vary. Ask about the options relevant to your loan, how to submit documents, and when you should expect a response. Keep copies and confirm receipt. A housing counselor can help you organize the conversation; an attorney can advise you about legal papers and deadlines.
Sources: CFPB: Options if you cannot pay your mortgage · CFPB: Mortgage help and housing counselors
A homeowner's guide to evaluating a sale
Confirm where things stand
Gather recent statements, default or acceleration notices, court papers, and any sale notice. Ask who is handling the loan and which dates require action. State law and the details of your loan affect the process.
Ask for the amount needed to close
Request a current payoff through the proper process and ask the closing professional to identify other amounts affecting the transaction. The unpaid principal shown on a statement may not be the complete amount needed at closing.
Compare proceeds and time
Get a realistic market assessment and a written estimate of sale expenses. Compare listing the home with a licensed agent and any direct-sale proposal. Include the cost of continued ownership and each contract's cancellation, inspection, and financing conditions.
Check whether approval is needed
If sale proceeds would be less than the mortgage debt, ask your servicer and advisers about a short sale. Do not advertise or accept a plan on the assumption that the lender will forgive the difference.
Coordinate the legal and closing work
Ask the closing professional and your attorney what must be completed, by whom, and by when. Get any claimed postponement or other agreement from the party authorized to provide it. Keep the servicer conversation active until the matter is actually resolved.
If the home is worth less than the mortgage
A short sale involves selling for less than the mortgage amount owed and requires agreement from the lender or servicer. Approval to sell does not necessarily settle every question about the remaining debt. CFPB advises asking about a deficiency waiver and retaining it in writing when granted.
Have your attorney and tax adviser review the proposed terms and any tax consequences. An offer from a buyer is not the lender's approval, and the approval process can affect whether a proposed closing schedule is realistic.
Sources: CFPB: What is a short sale?
Questions to ask before signing with a buyer
A buyer has a commercial interest in the transaction. Compare the proposal with independent advice about your home, your equity, and your alternatives. Avoid relying on verbal assurances that are absent from the agreement.
- Who is the legal buyer, and is that party purchasing for itself or expecting to assign the contract?
- What evidence supports the proposed funding and closing date?
- When is earnest money due, who holds it, and what happens if the buyer cancels?
- Which inspections or other conditions allow the price or closing date to change?
- Who is coordinating title work and obtaining the required payoff information?
- Will you receive time to review the agreement with your own adviser?
Questions homeowners ask
Can I sell during pre-foreclosure?
A voluntary sale may be available, but your authority to sell, the stage of the case, title requirements, payoffs, and deadlines need to be verified locally. Start early and ask a closing professional and attorney whether a proposed transaction can be completed in time.
Does contacting Arroyo Investment Group stop foreclosure?
No. Contacting the company is an inquiry about your property. Do not treat an inquiry, offer, or signed purchase agreement as a foreclosure postponement.
Do I have to sell if I fall behind?
Selling is one possibility. Ask your servicer and a HUD-approved housing counselor about available ways to address missed payments and keep the home. The suitable choice depends on your circumstances and the options for your loan.
Will selling repair my credit or cancel all debt?
Do not rely on either promise. Missed payments, remaining debts, lender agreements, and reporting details matter. Ask your qualified advisers what the proposed transaction would and would not resolve.
Compare a possible sale with your other options
If you want to discuss the property, tell Arroyo Investment Group its city and state, current condition, and your timeline. Use the CFPB mortgage-help resource below for independent assistance, and seek legal advice promptly if a deadline is near.
We review the information you share and follow up by email to discuss the property and possible next steps. A review does not guarantee an offer, a buyer, or a completed sale.
Discuss your propertyOfficial resources and further reading
- CFPB: Options if you cannot pay your mortgage
- CFPB: Mortgage help and housing counselors
- CFPB: What is a short sale?
This information is educational and is not legal, tax, financial, or insurance advice. Property rules and available options vary by state, county, loan, contract, and ownership circumstances. For advice about your situation, speak with an appropriately licensed professional.