Facing Foreclosure?
Facing Foreclosure???
I realize this is a very stressful time, but I can help you avoid having a foreclosure on your record. What many homeowners do not realize is that typically NO BANK wants to foreclose on a house as it affects their bottom line. Banks would rather have the homeowner sell the house to avoid the risks inherent with an unoccupied property. Most banks would rather take a small loss on the property through a Short Sale instead of accruing the costs inherent in the foreclosure process.
What can you do to stall or avoid the foreclosure process?
- The first thing is to immediately contact a Realtor. We’ll meet, review some paperwork and immediately contact the bank to let them know that the house is going on the market. This will generally stop the process and give us enough time to sell the house.
What if you don’t have money or equity to pay closing costs, hire an agent etc?
- Depending on the situation, we can look at a Short Sale. Usually, the bank will agree to sell the property at a loss. For you this means not having to pay Realtor fees, closing costs etc.
What does the Realtor get out of this?
- My company actually has a “Pay it Forward Program” which is designed to assist homeowners in this situation. The Realtors involved in the program make a commission but also do it as a way of giving back to the community. We would much rather protect the home values in the area instead of seeing them get slashed due to a slew of foreclosures.
Remember there isn’t any unsolvable problem if you know where to go and what to do. Every situation is different but an experienced Realtor may be able to help you salvage your credit and get you out of a foreclosure. If you want more information or you’re in this situation then don’t hesitate; call me or fill out the contact form below:
