REINSTATEMENT: Bring the loan current FOREBEARANCE: Temporary repayment plan REFINANCE: New loan with reduction in monthly payments LOAN MODIFICATION: Modify original loan terms SELL THE PROPERTY: Use equity to payoff or pay difference RENT THE PROPERTY: Must make loan current SHORT SALE: Negotiate with bank to accept sale under loan amount DEED IN LIEU OF FORECLOSURE: “friendly foreclosure” BANKRUPTCY: Will stall foreclosure but not prevent it
