A notice of default is very stressful. Whether you are underwater or have some equity in your house, you will quickly need to decide whether you want to save your house or sell it.
There are a number of things to consider. I’ll suggest some alternatives in later blogs but for now, I suggest you consider wholesaling your house. Wholesalers, like us, offer you a way to clean up your credit and take a nice down payment with you if you decide to move.
If your house goes into foreclosure, they will auction it off and you will lose your equity. Not to mention, your credit will be damaged for years. Therefore, consider letting a wholesaler get you top dollar for the sale and take over your mortgage and title.