Why prevent foreclosures?
There are so many reasons why you should prevent foreclosure. If you own a house with a mortgage and your financial situation is such that you may not be able to make a mortgage payment in the future, please let us help you.
Reasons why you should prevent foreclosure or stop foreclosure (if foreclosure already happens)
Leave your home on your own terms instead of getting evicted
At the final stage of foreclosure, if you have not vacated your foreclosure property, you will be evicted. It is not pretty. We have seen many nice and respectable folks leaving their beloved home in a hurry in the middle of the night to avoid being seen by neighbors and sparing themselves of embarrassment. Getting evicted is by FAR worse than if you were to leave your home by yourself or even
selling your home in advance.
Get something for your home instead of getting nothing after foreclosure is complete
If you sell your home before your mortgage lender is done foreclosing on your house, you may get some values from your property. Nowadays, it does not matter how much you owe your mortgage lender. If you owe your mortgage lender MORE than your home is worth, real estate investors can help you negotiate with your mortgage lender in a process called ’short sales’. By doing so, you will be able to sell your home for what you owe on it to the real estate investors. This is particularly beneficial when you owe
more than you can sell your home for.
For example, if your home is worth $200,000 in the market right now and you owe your mortgage lender $250,000. You can only sell it for $200,000 or less if you try to list it on the market with a realtor. In order to sell your home fast, you may have to reduce the price to $180,000. You will also have to pay realtor’s fees and other costs. Let’s say, you will end up with about $170,000 net for your house.
Since you owe the mortgage lender $250,000, you will have to come up with $80,000 on the spot.
However, if you sell to real estate investors, they will negotiate with the bank to drop
off the remaining portion of your debt. That means, at the end of the day (subject to a successful short sale), you will no longer owe the bank anything. An investor will buy your house, help you find other housing arrangements if needed, set you up with some start up cash, and also help you clean up your credit so that
you can borrow again for your new home in the near future.
Avoid the embarrassment
Foreclosure is embarrassing. Notices of default are public notices – that means anyone reading the papers will know that you have defaulted on your mortgage payment and are now facing foreclosure. Imagine your friends and colleagues knowing how bad your financial situation is. Imagine your children’s friends and teachers at school knowing about your financial situation. Imagine your neighbors knowing. It is not pretty. We want to spare you all that embarrassment!
If the public notices aren’t bad enough. Imagine, you and your family having to pack up in a hurry and leave. Your neighbors may not be told that you are in foreclosure but THEY KNOW. Foreclosures have happened enough times in the United States for them to put two and two together and figure out that’s what’s happening to you.
If gossips, words of mouth and speculation aren’t bad enough, imagine one day someone (it could be the sheriff or a representative of the mortgage lender or the realtor in charge of foreclosure) coming to your house, stabbing a bright yellow piece of paper on your front door visible to anyone walking pass from a mile away. The notice on the bright yellow paper says, something along the line of, “contact the agent below to get some of your belongings”. Yes, you have been evicted. Sometimes, the representative is nice enough to not throw all your stuff out on the curb for everyone to see which is probably the most embarrassing thing that could happen to any homeowner. Other times, they would just throw your stuff out on the street as thrash. It is sad and not pretty. So, don’t let it happen to you! Find a reputable investor and prevent your foreclosure now!
Save your credit
Most of the time, a foreclosure stays on your credit report for seven years. In many cases, foreclosures are even worse than bankruptcies. But, both foreclosures and bankruptcies are bad for your credit and you really should avoid foreclosure and avoid bankruptcy if there are alternatives. Prevent Foreclosures offers alternatives so you should never have to go through with foreclosure (you can
stop foreclosure) and you should never have to file bankruptcy to get out of foreclosure.
Some expert credit repair programs claim that they can remove foreclosure from your credit report within a few months.
Is it true that credit repair programs can remove foreclosure from your credit report for good and you can borrow again soon?
As far as we have seen, yes, some people have foreclosure deleted from their credit after a few months. Others may take a year. It really depends on how bad the foreclosure is. You also have to be careful about which credit repair company you use to help you clean up your credit. Using the wrong credit repair company could be disastrous rather than helpful.
If you are ready to start preventing foreclosure and finding out more about your options, below is a free consultation that will help you.
Prevent Foreclosure Today – Immediate Prevention. Most homes can be saved. Fast & Free Advice
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