Foreclosure happens when a home owner is behind in their payments over 90 days. The process begins a count- down towards the time for the house to be sold at auction by the bank for anyone to show-up and buy it. It will be sold for the price equal to the amount still owed to the bank [by the owner] which is significantly less than the full original amount of the full loan when first purchased.
One way to stop the foreclosure is to apply for a short sale with the bank. This procedure will stop the foreclosure process. The home owner will have to prove there is a hardship preventing them from continuing payments on their mortgage loan. There has to be proof of a job loss or that the loan was a bad loan due to some inconsistencies made by the bank. A third party company will do an audit on the loan and examine it to point out the mistakes made that is causing the payments to escalate to higher amounts.
The short sale enables the bank to accept a discounted amount for the property, freeing the owner of overwhelming collection calls and increasing late fees and penalties.
If the home owner is late, but not yet 90 days late, they are in pre-foreclosure. If they know they cannot make the
payments and need help now to prevent foreclosure, they have a choice to keep their home or to sell. If they want to sell, they can sell at the price that is owed, which is at a discount- so it may be easy to sell. They most likely will be selling to investors who will take your property as is and fix it up and sell it to a family at lower than market value. If you are a home owner who wants to save your home, you can arrange to lower your mortgage payments with a loan modification. You would apply to qualify with no fee. Once your original loan paperwork has been accepted, you are ready for step two. This is a quick and thorough process that will, for the price of one mortgage payment, lower your payments of this new loan by reducing the interest rates and they will remain fixed for the length of the loan.
If you have lots of credit card debt that was incurred by paying bills with your cards and now your expenses are being driven up, possibly too high to qualify with the bank for a new loan. There is a program that can help you lower your expenses by negotiating with each of your creditors for a settlement to cut your principal balance [what you actually owe] down to half the amount owed without extra hidden fees, just one affordable fee.
These are a few ways to stop foreclosure by either selling your home or by saving it.
As an investor, if you have any questions,
Please contact me to help you to sell your home quickly or to help you to qualify to kee your home.
While I am available to help you through the process, I cannot quarantee the results that you will get, due to the amount of your income verses the amount of expenses you may have. It is important to have enough income to afford the new down payment and monthly payments of the modified loan.
Not to worry, there is a way out if you don’t have enough income. Short sale your house and star over while paying down your credit card debt in just a few years, with the debt reduction program.
Just call or email me for further info to get free from foreclosure.
Valor Mann
757 454 6379
valsfaith@hotmail.com
When I was applying for a loan to purchase my building as a small business owner in a tough situation, conventional banks said they could not help me. Mr Pedro, a loan officer, sat down with me, heard my situation and decided that I was worth taking a chance on. Here we are 3 years later and I have just renewed my loan for another 7 years. I couldn’t have purchased my building without the help of Mr Pedro and will be forever indebted to them for giving me a chance when no one else would."
ReplyDeleteI will recommend you to contact a loan officer Mr Pedro on the information below if you need any financial assistance.
Email & Chat: +1 863 231 0632 pedroloanss@gmail.com