Chris Buys Houses Fast in VA

And everywhere nationwide, buying Houses Fast anywhere in Virginia and the US

Sell a house with a couple of payments behind

Behind on Mortgage Paymetns

Behind on Payments?

What happens if you are a behind on payments and you want to sell your house?

You likely know the stress of creditors calling you.

People get a couple of payments behind for a variety of reasons.  Some of those reasons are beyond your control:

  • Job loss
  • Medical crisis
  • Divorce
  • Military deployment
  • Can’t afford a payment on an empty house after you’ve moved.

Here are 4 real simple answers when you are behind on payments  and you want to sell your house.

1.  Sell your house for cash to a qualified buyer.

We are cash buyers of houses.

When we pay cash for your house, those proceeds will pay off your existing mortgage.  Any loan payments that are behind, plus any late fees, will be added into the payoff statement.

Your loan would be paid off in full.

You sell your house, and you no longer have payments.

Imagine what that relief would feel like.

You will have avoided a foreclosure and no longer would have to play catch up from being behind on payments.

2.  Sell your house to an investor who takes over payments.

In this situation, the investor and you agree as to who will make up the back payments.

From then on, the investor will take over the payments on your house.

We have done this as a solution for many sellers since we started our business in 2004.

The seller was behind on payments.

We reinstated the loan and took over the existing mortgage payments.

The seller moved and we renovated the house and resold it.

You will not have to worry about the paperwork as we handle it all.

We make sure we are compliant with the laws of the state of Virginia regarding taking over your mortgage payments.

3.  Short sale your house.

If you are behind on payments and owe more than your house is worth, a short sale might be another solution.

We have done short sales and they are not easy.  But they are a solution.

In this situation, your missed payments are taken care of in the negotiations.

4.  Lease option your house.

If you are a few payments behind, a lease option might be a good work out, provided that the loan gets caught up with funds received from the tenant buyers.

Talk with us to find out what we can do:

We have been buying house for cash for over 5 years or buying houses for cash spread out over time (terms).

We buy your house for cash only if it works for you and I.

Get our offer within 24 hours, no matter in the United States where you are.

Or simply call 804-719-1489 during regular business hours for a free no-obligation consultation.

Take Over My Monthly House Payments

We Buy Houses Taking over Payments

NOW SERVING NATIONWIDE – We’ll take over your payments if the house fits our formulas.

You want an investor to Take Over Your Monthly House Payments?

We are a company in Richmond Virginia that replies to your search request to “Take Over My Monthly House Payments”

The company is www.Chrisbuyshousesva.com.

NOW SERVING NATIONWIDE – We’ll take over your payments if the house fits our formulas.

We are now buying houses fast in and around the following areas:

Chesterfield, Richmond, Fredericksburg, Bowling Green, Hanover, Henrico, Petersburg, Chester, Colonial Heights, Hopewell, Sandston, and Goochland.

Reasons you want us to take over your payments

We are familiar with many reasons why people must sell their houses fast.

Some of the most common reasons include:

  • Relocation
  • Facing Foreclosure
  • Divorce
  • Need Repairs
  • Bad Tenants
  • Tired Landlord
  • Liens Owed
  • Making 2 House Payments
  • Inheritance
  • Over-Financed

There are also a variety of other reasons as well that may put you in situations that are preventing you from waiting a long time to hope for a potential buyer to sell your house to.

ChrisBuysHousesVA.com is now buying properties in The Richmond Virginia area and nationwide that solve your problem by taking over your monthly payments.

With all the smaller Virginia “we buy houses” companies available, be sure to work with one that has the experience and proper training that can handle all the legal documents and other necessary paperwork that would be necessary take over your monthly payments.

If we take over your monthly Payments, we will even pay your closing costs.

To start the process —

Call us at 804-719-1489 or fill out our offer form.

Possible Tax Consequences of a Short Sale

A common question I am asked when discussing real estate short sales is what happens with the debt that is not paid.

Below are some different articles that discuss the possible tax implications of a short sale.  Each article has examples. 

I provide these simply for informational purposes, not as tax advice or any other reason.

ARTICLE 1

The following is from an article entitled Tax Consequences of a "Short Sale" of Real Estate vs. Foreclosure dated 8/2/08

Congress has passed and President Bush has approved H.R. 3648, the "Mortgage Forgiveness Debt Relief Act of 2007." The legislation is effective for discharges of indebtedness on or after January 1, 2007 and before January 1, 2010. The Federal Bailout Legislation H.R. 1424, passed on October 3, 2008, extended this relief through December 31, 2012.

Under the new law, a discharge of "qualified principal residence indebtedness" is excluded from taxable income.

Short sales are taxed under the same rules as foreclosures.

Recourse debt cancellation is not satisfied with the surrender of the property, so any debt not satisfied with the sale proceeds would be taxable as cancellation of debt income, except for certain "qualified principal residence indebtedness." See section on "tax relief" above. (Rev. Rul. 92-99, 1992-2 CB 518. Also see Treasury Regulations Section 1.1001-2(a)(2).)

There are additional rules as to how this debt is treated in the tax code, so I recommend reading the complete article and talking with your accountant.

Article 2

From Tax Consequences of Foreclosure, Short Sale and Deed in Lieu of Foreclosure

The tax results of a distressed property disposition depend on whether the loan is a “recourse” loan or a “non-recourse” loan.

If a lender’s sole option for recovering on the loan is to take back the property, it is a non-recourse loan. The non-recourse aspect of a loan may be spelled out in the loan documents, or it may be a matter of state law, as it often is in the case of purchase-money loans and seller-financed loans for owner-occupied residential property.

If the lender can pursue the borrower personally for any shortfall, it is a recourse loan. In situations where there is a shortfall on a recourse loan, the lender is supposed to send the IRS and the borrower a form 1099-C reporting the borrower’s COD income.

The above website includes examples.

Article 3

The actual IRS Website on Home Foreclosure and Debt Cancellation.  Specifically, they write:

Update Dec. 11, 2008 — The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualify for this relief.

Article 4

Smart Money released an article on April 22, 2009 called the taxing consequences of short sales which gives a review of short sale tax basics

The important thing to understand is that a real estate short sale can potentially result in a taxable gain and/or taxable DDI. Thankfully, you can probably exclude the gain from taxation under the federal home sale gain exclusion deal, and you might be able to exclude some or all of the DDI, too, under the favorable exceptions explained in this article.

Avoid Foreclosure in Virginia

Avoid Foreclosure in Virginia

Are you seeking to avoid foreclosure in the state of Virginia?

You’ve got a couple of options

Steps to Avoid Foreclosure in Virginia

HUD once put out a document for homeowners entitled, Tips for Avoiding Foreclosure – HUD.  It has since been removed, but the steps to avoiding foreclosure are really are pretty simple:

  1. Don’t ignore the problem
  2. Contact the lender as soon as possible and work with them
  3. Open and respond to mail from your lender.
  4. Know your mortgage rights.
  5. Understand foreclosure prevention options. (Selling in one of them)
  6. Contact a HUD approved housing counselor.
  7. Prioritize your spending.
  8. Use your assets to recover the debt.
  9. Avoid foreclosure prevention companies that charge fees up front.
  10. Don’t loose your house to foreclosure recovery or prepay loan mod Scams.

Should I sell my house to Avoid Foreclosure in Virginia?

Here is a simple test:

  1. Are your mortgage payments falling behind?
  2. Can you bring your mortgage payments back to current in lump sum as they demand?
  3. Has the lender refused to approve my loan modification?

If you have answered yes to any of these questions, then one option is to sell your house to a home buying professional like us.

If you decide to sell your home to avoid foreclosure in Virginia, you can rest assured that we will treat you fairly and with respect.  You are not alone in this, and we have solved foreclosure problems for homeowners before.

There are no fees to you and we will tell you quickly if we are able to help you. 

Give us a call, at 804-719-1489 or use the form here to start





Do you need to sell your Richmond house NOW?

Do you need to sell your Richmond house NOW?

If you need to sell your house in Virginia quickly, then you’ve come to the right place.

Selling in the current market can take a long time. That’s OK if you can wait.

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Let me ask you this:

Who do you know in the last month

that got what the agent said they would for their house,

and

in the timeframe they expected?

Challenges to sell your house now in this Richmond Real Estate market

When you sell your house the normal way, your costs usually include advertising fees, agent’s fees, legal fees, holding costs such as utility payments, ongoing mortgage payments.

I’ve even read that current inventory would take 9 months to clear out.

On top of this could be the uncertainty of:

  • Missing out on that other house you want.
  • Missing a better investment opportunity now that negative gearing is costing you more than you are making.
  • Running out of time to save your credit rating if your payments are getting too big.
  • Dealing with bad tenants.

Then there is the complexity of working with agents, banks, attorneys and buyers. Not to mention the inconvenience of home opens and random inspections.

There are a hundred good reasons

why people can’t wait to sell their houses.

Now YOU Don’t Have To WAIT.

We buy single family homes up to $275,000.

We make it extremely easy by arranging absolutely everything.

Your job is just to tell us where to deposit the money.

So if you have decided to get rid of your unwanted house and want a fast, efficient solution instead of months of uncertainty, tap the GET OFFER Button below and we will contact you within in 24 hours, usually less.

All information provided will be kept strictly confidential.

 

How to Save My House in Virginia

I can’t read your mind.

There may be plenty of reasons why you are thinking “I need to save my house”

  • Avoid Foreclosure
  • Stop Foreclosure
  • Tax judgment
  • Impending flood
  • Take over from toxic mold.
  • Avoid bankruptcy
  • Behind on Payments
  • Stop the sheriff sale.
  • Upside down and no equity.
  • Loan modification.

There may be plenty of reasons.

These are some of the common reasons that sellers like you tell me over the phone or by email when we communicate about selling your house.

Stop Foreclosure in Virginia

Your solution depends on your situation.

If it is debt related (foreclosure, liens, judgments) are some but not all options.

Loan modification

One option (and not your only one) is to work with your lender to modify your loan.  Many lenders are work with distressed sellers to try and work out a solution.

Bankruptcy

Some people have delayed the inevitable by filing bankruptcy.

That is not my line of business, so talk with a bankruptcy attorney.

Short sales

A third option is a Short Sales.

I have written plenty here in the Short Sale category and I invite to to read through some of it.

Start with this page on Short Sales.

I can do a short sale, but it takes a few months.

Sell your house

Another option is to sell you house to an investor like me.  In this market cash is hard to find but with some creativity on your part and mine, we might find a solution that works.

Simply tap the GET OFFER button below or give me a call at 804/719-1489.

A phone call is free and confidential

Upside down on your mortgage

Are you upside down on your mortgage?

That means you owe more than your house is worth in the present market.   For various reasons, you likely have seen the prices of houses falling (nationwide about 15%) in your neighborhood, and the number of bank owned foreclosures listed with realtors.  As homebuyers buy these foreclosed REOs (real estate owned), it drives the value of your house down.

For example, in 2005, you paid $215, 000 for your house.  You took out two mortgages for 100% financing.

That same house today, might only be worth $175, but you still owe $215.

The ARM rate has reset and you find yourself falling behind on payments.

What to do when you are upside down?

A short sale might be the solution for you.  Read my section on short sales to find out if this right for you.

If you want to procede, simply give me a call at 804/719-1489 and I’ll tell you if I can help you with your short sale.  This consultation is free.

If it is 3 in the morning, use this form and I’ll give you a call the next business day.





Virginia Foreclosures Continue to Rise

foreclosurecrisis According to the 12/11/2008 Richmond Times Dispatch

Foreclosures in Virginia continue to rise from a year ago, but the rate here is better than it is nationally.

One in every 567 Virginia households, or a total of 5,694, received a foreclosure filing in November, according to a RealtyTrac report released today. By comparison, one in every 488 U.S. households receiving a filing. Filings include notices of default, trustee sales and foreclosure sales, according to the online database.

Filings here rose 121 percent last month from November 2007, while nationally they increased 28 percent, according to the report.

This number shows the market in pre-foreclosures is still very active.  What this report doesn’t reveal is how many of these are upside down, or how many can have a deal made from them.

Avoiding foreclosure of your home in Virginia is an everyday battle for thousands of families in the state.  The truth of the matter is that a big percent of the families that face foreclosure today is not because the adjustable rate kicked in, but because in the last two years the cost of living has gone trough the roof, while middle class income has come down.

You might be able to get a loan modification, or simply sell your house outright to avoid foreclosure

Is your house facing foreclosure in Virginia?

If your house is facing foreclosure in Virginia, we can at least see if the there is something we can do to buy your house.  You may have other options available to you.

If you or someone you care about are currently experiencing some sort of financial distress that might jeopardize the ability to make mortgage payments there are several crucial bits of information you need to know and some things you need to do right now before your payment is late.

We are a professional house buying company.  To talk with us is free.

I invite you to call me directly at 804/719-1489 and speak with Chris.  Or fill out the form on this page and I’ll give you a call, typically within 24 hours.

We have helped people like you deal with a home that is facing foreclosure in Richmond, in Petersburg and in the Surrounding areas.





Sell an Inherited House Quickly

Sell an inherited house

Did you inherit a house?

Selling an inherited house can be simple or difficult.

It is often the most controversial part of dealing with the estate, particularly if there are many other beneficiaries involved.  One house I worked on had at least 17, and about 5 of them could not be found.  You may even have to deal with the tax or taxes on an inherited house.

If there is a will directing what is to happen to the estate matters are more straightforward.

However, if the deceased is intestate, things are often more protracted and complicated.

Keep open and clear communication between all parties from the start.  It sounds simple but emotions may be running high particularly if the dead person was a close relative and perhaps the inherited property was the “family home”.

To sell an inherited property it is wise to establish what each party needs and reach a clear collective agreement as to whether to sell an inherited property and if so at what price and what the ideal timescale should be.  This discussion will avoid discord further down the line and help to resolve matters smoothly and amicably.

If there is a need to sell the inherited property a cash buyer could be a good solution.  True there will be a compromise on price but a guaranteed quick sale will often outweigh any shortfall.

How to sell your inherited house

Get our Cash Offer for Your House in 24 Hours.  We may be your best solution, so give us a try.

At least give us a call at 804-719-1489.

 

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Let Us Buy Your House Fast

To receive our offer, please take just a few moments to tap the “GET OFFER” button below.

There is a little form behind there that will start the conversation about getting an offer on your house.

The more information you can provide us, the better we are able to analyze the situation.

Or Simply call at 804/719-1489

Cash offer for your house