What must happen for a buyer to avoid foreclosure?

For a buyer to avoid foreclosure, the fundamental requirement is to continue making mortgage payments. This ongoing commitment to fulfill the agreed-upon financial obligations ensures that the lender receives the necessary payments on time, preventing the initiation of foreclosure proceedings. If a buyer falls behind on payments, the lender has the right to initiate foreclosure to recover the remaining balance on the loan. Maintaining consistent payments is the most proactive and effective strategy a buyer can take to protect their home and financial investment.

Other options, while they may offer alternative strategies to manage financial challenges, do not directly prevent foreclosure in the same way that making mortgage payments does. For instance, waiting for property prices to increase may improve the value of the home but does not provide any immediate relief from missed payments. Refinancing can be a beneficial option but typically requires the buyer to be in a suitable financial position to get approved for a new loan. Selling the property above market value may yield profits, but it does not guarantee a sale or solve the immediate issue of payment default.