Foreclosure Solutions

There are 3 basic solutions to prevent a Foreclosure:

 

  1. SELL YOUR HOME FOR CASH FOR A QUICK SALE

 

Advantages:

Pay No Closing Costs!

Pay No Realtor Commissions!

Pay No Moving Fees!

No Showings or Open Houses!

No Repairs needed!

 

Step 1: Contact us

Step 2: Get a FREE Cash offer from an Investor based on activity in your local market

Step 3: Schedule a closing that is convenient for you

Step 4: Schedule a Mover to pack up your belongings

 

  1. DO A SHORT SALE INSTEAD OF A FORECLOSURE

 

BENEFITS OF DOING A SHORT SALE INSTEAD OF A FORECLOSURE

 

  • Your credit will not be hit as hard. Typically, you will be able to purchase a home again in 2 years with a Short Sale versus 7-10 years with a Foreclosure.
  • Your secondary loan (home equity loan) will be negotiated and the buyer will make the offer to the bank contingent on the forgiveness of your debt.  The second lien holder cannot come after you in a civil suit for the unpaid balance. 
  • Since your credit is not severely damaged you will not have the worry of a landlord declining you due to bad credit. With a Foreclosure you are served with eviction papers.
  • Smoother Transaction: there is less worry wondering when the Foreclosure will happen and how much you will owe back at the end. 
  • You will have a negotiated settlement with a Short Sale guided by your Realtor instead of a court ordered settlement with the Bank Attorney at Foreclosure.
  • Typically, Attorney fees are handled through the transaction without an out of pocket expense.
  • Do not need any money for closing costs.
  • By saving your credit and not substantially lowering your FICO score you will save on items such as car insurance premiums and credit card interest charges.
  • Banks like Short Sales because it is less expensive for them too. They process is very costly for them. They have to borrow money to keep your non-performing asset on their books. They would rather negotiate a Short Sale then run the lengthy and expensive process of a Foreclosure.
  1. We can contact your Lender to see if they will allow a Loan Modification

 

We can consult with you and your bank to review your options. If you qualify, some banks will rework the loan to make it more affordable.