Should I let my house go in to foreclosure?

Without knowing what your financial circumstances are, it is next to impossible to say what your options are. There are many banks trying to work out modifications with homeowners so that they can keep their homes.

Unfortunately, the answer is not one size fits all and there are many factors which can influence your options and decision, including, but not limited to, the level of financial hardship, is the hardship short-term or long-term, the year you got your mortgage, the value of the property, your income, what type of mortgage, and who the underwriter of the mortgage is. It is best to consult an attorney who regularly practices in the areas of real estate, credit repair, contracts and foreclosure litigation.