If you are facing a potential foreclosure and need options to avoid foreclosure, selling your Louisville house is a possibility to prevent foreclosure. Even if your lender has already notified you of the foreclosure, you may be able to negotiate a deal to keep your house. In this post, learn how to avoid foreclosure, but if keeping your house is not possible, you can sell your house through a short sale or sell to a real estate investor for a faster sale.

Avoid Foreclosure – Start with Loan Modification

If your financial situation has changed due to a job loss or health issue, and could potentially be facing the foreclosure of your Louisville, Kentucky house, immediately communicate with your lender. In some cases, a deferment can be granted for a short time frame until you get back on your feet. Also, homeowners can research loan modification options to avoid foreclosure through Housing and Urban Development (HUD). HUD offers many programs to prevent foreclosure if you qualify.

File Bankruptcy to Avoid Foreclosure

If it is too late for a deferment or loan modification or you do not qualify for any HUD benefits, you can avoid foreclosure by filing bankruptcy. There are two types of bankruptcy and you must qualify for the bankruptcy. A Chapter 7 bankruptcy will discharge your debts and allow you to keep your property. A Chapter 7 can take up to six months to complete and you will need an attorney to assist you through the process.


A Chapter 13 bankruptcy places you on a repayment plan where you must repay all your debt within a set time frame (usually five years). You will not lose your Louisville house and you will need an attorney to assist you through the process. A bankruptcy stays on your credit report for seven years and negatively impacts your credit report. It will take a significant amount of time to repair your credit from a bankruptcy.

Consider a Short Sale to Avoid Foreclosure

Sometimes lenders will approve a short sale of your Louisville house to prevent the house going to foreclosure. If your lender approves the short sale of your house, you will need to be prepared to present the highest offers of your house to the lender. Keep the bid price as close to the amount you owe (a little higher is even better) on the house because whatever amount is not paid off through the short sale you, as the homeowner, are responsible for the difference.


A short sale goes much more smoothly if you have an attorney or a realtor. Contrary to popular belief, a short sale takes time. Gaining your lender’s approval for a short sale can take 50 to 90 days. After you gain approval, the sale of your Kentucky house is based on your realtor’s efficiency and the market in your area.

Avoid Foreclosure – Contact a Real Estate Investor

If you want to avoid foreclosure, sell your Louisville house fast, and move on with your life, consider contacting a real estate investor. A real estate investor can buy your house as-is and offer you cash in-hand quickly. When you use a real estate investor, you can prevent foreclosure from happening; the foreclosure will not go on your credit report.


A foreclosure has negative consequences on your credit report and will require a lot of time to repair your credit. A real estate investor can answer your foreclosure questions and review your specific situation. Avoid foreclosure and all the negative consequences from a foreclosure by contacting a real estate investor.


When facing a foreclosure, you have many options to avoid foreclosure and sell your house fast. If want to come out ahead with the least amount of impact to your credit and finances, contact SnH Homes to discuss your specific situation. SnH Homes’ process is fast and efficient offering you cash for your Louisville house.