Avoid Foreclosure

What is Foreclosure?

A foreclosure is the legal process where your mortgage company obtains ownership of your home (i.e., repossess the property). A foreclosure occurs when the homeowner has failed to make payments and has defaulted or violated the terms of their mortgage loan. Some of the things that could happen:

• Eviction from your home—you’ll lose your home and any equity that you may have established
• Stress and uncertainty of not knowing exactly when you will have to leave your home
• Damage to your credit—impacting your ability to get new housing, credit, and maybe even potential employment, for many years
• May owe a deficiency balance after the foreclosure sale
• Lose any relocation assistance or leasing opportunities that may be available with other options
• Forfeit ability to get a federal backed mortgage (FHA) to purchase another home for up to 7 years

Selling your home is an option if you have a financial hardship and can no longer afford it. It does not matter if you have entered pre-foreclosure or are nearing the end of the foreclosure process, you can still choose to sell your home. If your home is worth more than the amount you owe on your mortgage and other debts secured by the home, the difference is known as home equity. A sale with equity lets you convert this portion of your home’s value into cash that’s yours to keep or use for other purposes when you sell your home. What a quick sale can do for you:

• Pay off your remaining mortgage debt
• Benefit from the equity in your home by keeping your share of the proceeds from its sale
• Use your proceeds for new housing, other expenses, or savings
• Avoid the damage to your credit caused by a foreclosure
• Have more flexibility and control over exiting your home
• Receive a cash advance from us to help with the transition

Why sell to us?

There are serious consequences if you let the home go to foreclosure. If this is a scenario you are currently experiencing you must understand you have options. We are very successful at negotiating debt with banks and can often purchase your property directly from you thus saving you from a foreclosure. In many instances it may be in your best interest to sell. If you are struggling to make the mortgage payment each month you may need to find a more affordable situation. Likewise, do not risk losing valuable equity to a pending foreclosure by not taking action. We can purchase your home directly from you and there are no hefty realtor commissions you will have to pay. We can close on the timeline that is best for your unique situation. Call us today and we can make you an offer in less than 24 hours!