Q: WHAT HAPPENS WHEN MY HOUSE IS IN FORECLOSURE?
A: Foreclosure is a legal process in which the rights to a property are taken away from the owner and the property is then sold to satisfy unpaid mortgages and liens against the property.
In most cases, foreclosure proceedings are started when payments become delinquent.
Q: HOW WILL I KNOW WHEN THE FORECLOSURE PROCESS BEGINS?
A: Once foreclosure proceedings are initiated, a Notice of Default or Lis Pendens will be recorded at the County Recorder’s Office in the county in which the property is located and you will be notified by regular mail and by certified mail.
Q: CAN I SELL MY HOUSE IN FORECLOSURE?
A: Yes! We will explain your choices and walk you through each step so you can make the best decision.
Q: CAN I STOP THE FORECLOSURE SALE?
A: Yes. You can bring your mortgage payments current along with all late charges, foreclosure fees, taxes, and insurance premiums. If you are unable to do so, you can contact your lender and try to negotiate a plan to modify your payments but don't wait until the last minute to do this. Other options include refinancing, selling your home and or filing for bankruptcy.
Q: CAN YOU LIST OUR HOME ON THE MLS/RMLS IF THAT MAKES THE MOST SENSE?
A: If you have the time, we sure can. We have a couple of agents on staff that work with sellers every day to help prepare homes for the retail market. If you have the money to fix up the home and the time to list it, this is a great option and we can help.
Q: SOMEONE PASSED AWAY AND NOW WE HAVE THIS HOME TO DEAL WITH. WHAT DO WE DO?
A: If a family member or loved one died without a will, the government offers you a process to keep the home, if you choose. We can explain this so you can decide what the best plan is for your specific situation.
Q: WE JUST WANT TO SELL OUR HOME AS-IS. WE DON’T WANT TO FIX IT UP. CAN YOU HELP?
A: Yes! We buy houses too! You won’t waste time fixing up your property because we buy in as-is condition. We’ll make you a fair, all-cash offer with a quick closing date. Also, there are no agent fees or commissions.
Home ownership is a source of pride for many Americans. Changes in the real estate market and mortgage financing have made buying a home easier than it used to be, in many ways, but not necessarily easier to pay for. If you are facing financial difficulty and fear that your home ownership may be put in jeopardy you don't need to just throw in the towel. There are a number of ways that you can try to keep your home and, depending on your circumstances, you might be able to work things out with the lender, limit your losses, or avoid damage to your credit score.
If you’re in a situation like this, you might have a few questions about how we can help navigate the challenges you are facing with your property. Whether it’s a foreclosure, you need to sell quickly, or any other kind of issue, here are of some of the questions people ask us: