10 Tips to Avoid Foreclosure
How can I Avoid Foreclosure?
Are you having trouble keeping up with your mortgage payments?
Have you received a notice from your lender asking you to contact them?
The Department of Housing and Urban Development, or HUD, has 10 tips you can follow to avoid losing your house:
- Don’t ignore the problem: The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.
- Contact your lender as soon as you realize that you have a problem: Lenders do not want your house. They have options to help borrowers through difficult financial times.
- Open and respond to all mail from your lender: Your failure to open the mail will not be an excuse in foreclosure court.
- Know your mortgage rights: Find your loan documents and read them so you know what your lender may do if you can’t make your payments. Learn about the foreclosure laws in your state.
- Understand foreclosure prevention options: Valuable information about foreclosure prevention options can be found on the Internet at http://www.hud.gov.
- Contact a HUD-approved housing counselor: The U.S. Department of Housing and Urban Development funds free or low-cost housing counseling nationwide. Find a HUD-approved housing counselor near by calling 800-569-4287.
- Prioritize your spending: After health care, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses — cable TV, memberships, entertainment — that you can eliminate. Delay payments on credit cards and other “unsecured” debt until you have paid your mortgage.
- Use your assets: Do you have assets — a second car, jewelry, a whole life insurance policy — that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don’t significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.
- Avoid foreclosure prevention companies: You don’t need to pay fees for foreclosure prevention help — use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender. They will charge you a fee (often two or three month’s mortgage payment) for information and services your lender or a HUD-approved housing counselor will provide free if you contact them.
- Don’t lose your house to foreclosure recovery scams: If any firm claims it can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home. Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a trusted real estate professional, or a HUD-approved housing counselor.
Source: Department of Housing and Urban Development
How WE help you Avoid Foreclosure.
We have a variety of different means. We do not charge you any fees (see #9) before trying to help you. We are not a foreclosure prevention company. We buy houses or the note on your house if you want to keep it.
If you wish to Continue to own your home, we can try help you. The only thing we ask you to sign is an authorization to allow us to talk with your lender. We even provide the forms on our website for you to see. Read: Continue to own your home to see the forms. There is no fee to you.
If you wish to sell your home, we have different ways of purchasing it. No closing costs or fees to you. We use attorneys as a form of giving you protection, and to make sure that we do our business right.
See our Avoid Foreclosure section, or Get our offer Within 24 hours. Don’t want to fill out a form? call us at 804/915-9475.
Written by - Visit ChrisBuysHousesVA.comSell your house fast, Why and How?
There are certain cases when the seller has to sell their property quickly because of financial constraints and other issues.
There are a number of reasons why you may want to sell a house quickly, whether it’s a financial issue, or perhaps a need to relocate.
We deal with people all the time who have various reasons why they need to sell fast.
Selling your house quickly in this market can be a one of the most stressful things to have to deal with if you are not experienced at selling real estate. But it is can be done easily and quickly. . . . and a realtor is not always the best answer.
Realtors can put your property into the Multiple Listing Service (MLS). But in this buyer’s market, and with the inventory at it’s highest level in years, your house will likely get lost. Realtors have hundreds of houses they are trying to sell and show. Your house may not get their fullest attention.
I’ve talked with many people who’s Realtors failed to sell their house for them. Some have priced their properties at last year prices. Others have discovered that some realtors do nothing to market homes other than put it in the MLS and hope it sells itself.
I listed one of my proprieties for sale. In that school district alone there were 109 properties for sale. The only thing I could do to make my property stand out among the crowd was to cut the price as low as possible to make it the low hanging fruit.
If you want to sell your house fast, simply sell it on your own at the lowest price you can tolerate. Or simply figure out what proceeds after paying off the loan you need and go with that figure.
One lady only wanted 50K over the balance of her loan. She didn’t care what the house was worth if she could take the time to sell it, but she simply wanted the 50K. We bought her house in 10 days.
To learn how you too can sell your own house fast, without using a Realtor, in 2 weeks or less, give us a call at 804-915-9475 or fill our form and get our cash offer in 24 hours.
Written by - Visit ChrisBuysHousesVA.comWe can offer cash for homes.
If you need a quick sale of your home, then we can help. We are specialty company that can give you a verbal offer on your house and perhaps even give you cash for your house.
The quickest we have done is 7 days from first contact to close of sale. The owner sold his home for cash to us in under 7 days (it would have been 3 but he was out of town, so we had to mail documents back and forth).
If we buy your house we will not charge you any commissions or fees. In most cases, we pay for the closing costs.
Do you want cash for your house? Do you need to sell quickly? If you want top retail and can wait, we are not the right buyers for you. However if you need a quick sale and don’t care at what price, we can likely work out the sale of your home.
Give us a call directly at 804-915-9475, or fill out our form and Get our cash offer in 24 hours. You can have a contract on your house in under 24 hours for the right price.
Written by - Visit ChrisBuysHousesVA.comAvoid Foreclosure in Richmond VA
Most people don’t buy a house with the intent of getting behind on payments and facing the prospect of foreclosure.
Prevent Foreclosure
There are two main ways to lessen the likelihood of foreclosure before you’re even move in the house.
First, simply don’t put yourself in a situation where you won’t be able to afford your mortgage. This is something that many buyers have done with creative mortgages, ARMS, pick a pay loans, and all sorts of untenable mortgages.
Just because the mortgage lender approves you for a loan at a certain amount doesn’t mean you can actually afford the payments on that loan. On our first home we qualified to purchase a house at $495,000, but we bought one at $95,000. That kept our mortgage payments small.
Second, have a solid grasp on the details of your loan.
Make sure you understand the payment structure of each and how it may change over the years. Don’t simply sign the documents without reading them, simply because you need to refi or make a purchase.
I have dealt with many homeowners who signed for loans that were “different than they thought.” At the last minute, the lenders swapped loan products and as buyers, they felt trapped into accepting a loan with awful terms. Don’t let that happen.
Already Behind on Mortgage Payments?
So what can you do if you are behind on payments already? There are some options available to you. Simply dig around the website to see them, but perhaps you simply want to talk with someone.
Give us a call at 804-915-9475 or fill out a form to Get our offer in 24 hours. Calls are confidential and even if we can’t help you, we can still provide you with some resources to help.
Written by - Visit ChrisBuysHousesVA.comBehind on Payments in Richmond VA
No one buys a home with the intention of getting behind on payments.
Yet, as the mortgage crisis gets worse, creditors tighten the standards, many homeowners are beginning to feel the pinch. Adjustable rate mortgages (ARMS) are resetting to astronomical amounts, and the easy refis promised by mortgage brokers to bail you out are no longer available.
I’ve talked with several homeowners who are behind on payments.
The most common reasons include
- Medical Emergency
- Job Loss
- Divorce
- Job Injury
If you have fallen behind on payments anywhere in the state of Virginia, give us a call at 804-915-9475, or simply Get our offer in 24 hours by filling out a simple form.
It doesn’t matter if you have no equity in the home, we have options available to you. Calls are confidential and there is no obligation. Even if we can’t buy your house, we’ll give you some information that can help you for free.
Written by - Visit ChrisBuysHousesVA.com