Mortgage Default Information

Land Foreclosure Rescue Programs

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In Brief...

Landowners faced with foreclosure have several options available to them to avoid the financial strain of foreclosure proceedings and the inevitable damage to their credit that follows. PACE Programs PACE stands for purchase of agricultural conservation easement programs, which operate on the state level and are funded by state governments, nonprofits, or independent entities. PACE programs also allow landowners to cash in a percentage of the equity in their land and use that as an alternative to foreclosure or the sale of land for non-agricultural use. Deed in Lieu A deed-in-lieu option won't save your land but it could save you from foreclosure. State Programs Most states have a foreclosure rescue program that helps borrowers refinance their loan for lower payments, but there may be strict guidelines as to who qualifies.

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