Stop Foreclosure and Save Your Virginia Beach Home!
The following tips are intended to help you avoid foreclosure.
You must avoid procrastination when it comes to late house payments. Do not wait to receive a foreclosure notice for nonpayment. If you are indeed facing tough times financially, make sure that you let your creditors know of your current situation. It wouldn’t hurt to let them know of your intentions to correct the situation and make up your back payments. Talking with your creditors is a great way to try and work a payment plan out that benefits both parties. They may not always be the easiest people to work with, but it’s worth a shot.
Another tip in attempting to avoid foreclosure is to work at a loan modification. This is where you negotiate with your lender to modify the terms of your existing loan. You of course want to get the best terms possible that will enable you keep the payments on the loan current. The bank, on the other hand, wants to make as much as they can, but also wants you to keep the payments up and not lose the house. The person you most likely will be talking to at the bank is called a loss mitigation representative. Keep in mind that anything you say to this person is NOT confidential. It can be and will be used against you, so be careful with what you say.
Make sure you prepare yourself before talking with your lender’s loss mitigation department. You don’t want to be caught with your pants down. You will want to have proof in the way of paystubs, other proof of income and bills paid for the past year. You might also be asked to give them copies of your tax returns for the past two to three years. If there is a specific hardship that has come up which has impacted your ability to pay, you need to be able to prove it.
You could also try several debt management companies out there to help you manage your debts and handle your mortgage payments properly. Be sure to check out the companies and agencies you are considering thoroughly as there are a lot of companies with bad reputations, not to mention the outright scams. Be vigilant. With these debt management plans, you could be given the opportunity to combine all of your debts into one loan. Most companies will even offer a lower interest rate to entice you to consolidate your loans into one big loan. Just make sure that they payment for the new loan is something that you will be able to honor, or you will be right back to where you started.
Sell The House Before The Foreclosure Date
As a last resort, you can sell your house before the foreclosure date. We can pay cash for your house so that you can avoid all of the damaging effects of foreclosure. We can pay off your defaulted loan and arrears when we buy the house. You will most likely even walk away with some cash to help you get back on your feet.
Be careful with other investors. Some will tell you they are buying the house, when in actuality they have no means to do so. They simply are trying to find another investor that can actually buy it, to sell it to for more than they are paying you. We will buy your house ourselves. No games. No hassles. If this choice seems like your best chance to turn a bad situation into something that gives you hope, fill out the form on the left so that we can make you cash offer right away.