[YOUR BRAND][YOUR BRAND]Foreclosure Defense
Plan B — Exit Options

Your Exit Options
Explained Clearly

Sometimes keeping the home is not the right move. That does not mean you are out of options. Here are four structured exit strategies — with honest timelines, pros, and cons.

Exit Strategies

Four Paths Forward

01
60–120 days

Short Sale

Sell the home for less than you owe. The lender agrees to accept the proceeds as full satisfaction of the debt. Avoids foreclosure on your record.

Pros

Avoids foreclosure

Lender may forgive deficiency

Less damage to credit than foreclosure

Cons

Requires lender approval

Takes 60–120 days

May owe taxes on forgiven debt

02
30–90 days

Deed in Lieu

Voluntarily transfer the deed to the lender in exchange for release from the mortgage obligation. Faster than short sale.

Pros

Faster than short sale

Clean break from the property

Lender may offer cash for keys

Cons

Lender must agree

Must be current or near-current

Property must be in good condition

03
3–5 years

Bankruptcy (Ch. 13)

Chapter 13 creates an automatic stay that halts foreclosure immediately and allows you to repay arrears over 3–5 years through a court-approved plan.

Pros

Immediate automatic stay

Can cure arrears over time

Keep the home if payments made

Cons

3–5 year commitment

Affects all credit

Requires attorney

04
Varies

Strategic Exit

If none of the above fit, a negotiated exit — with a move-out timeline, cash-for-keys, and a clean record — may be the most dignified path forward.

Pros

Controlled timeline

Possible cash-for-keys

Avoid eviction process

Cons

Requires lender cooperation

Foreclosure still on record

No equity recovery

Auction Within 48 Hours?

If your auction is imminent, none of these options apply in the normal timeframe. Go to the Emergency page immediately for same-day action steps.

Not Sure Which Path Is Right?

The Action Plan intake will help you identify which exit strategy fits your timeline, income, and goals.

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