The greedy banks don’t deserve to have your house
Have you been getting those calls from the banks threatening to foreclose on your house unless you pay now? Your not alone because thousands of people are going through the same situation. I am not here to tell you how to manage your finances. If you are behind on your payments then you realize how hard it is to get ahead again and most likely you won’t get ahead. Don’t ignore this situation because it will roll right over you if you let it.
Foreclosure is affecting millions right now and its going to get worse. Banks have no time to care about each individual person. Your nothing more then a number so get use to it and move forward. If you foreclose then the banks can sue you for the amount of money they lose on your house. I have not ever seen them do this but they legally can. If you can’t even pay you mortgage then what makes them think you will ever be able to pay 20K-30K in the amount they lost?
So lets get you some options. If foreclosure is right around the corner then you need to get going now. First of all you need to save up some money. Your going to have to move eventually so save now. The second is you need to look at doing a short sale on your house. This is less damaging to your credit and you can typically go buy another house within 2 years. Short sales must be negotiated so during that negotiation process, you get to stay in the house but to negotiate you must already have a offer on the house. That is where I come in, I am a investor and I will put a offer on your house today. The best thing about the negotiation is that it could take 3 months or longer to negotiate with the bank. Banks will negotiate on a short sale because they don’t want to have another foreclosure that will sit for a year before it sells. During the short sale you stay in the property for free. The bank has the right to come back and sue you for any money they lose, just like they could if you were going to foreclose but again, I have never seen them do it to this day.
You can modify your loan but you need to beware of the grim statistics of this. Only 1 in 20 loans are typically successfully modified and those are usually for a temporary period of 2 years. The sad fact is that so many people begin to modify the loan and the bank agrees to lower payments and you think all is fine and then the bank forecloses anyway. This has happened thousands upon thousands of times.
I buy houses under any circumstances and work with home owners to remove the problem property and once they have gotten back on their feet financially, I help to find them another house in a great equity position. Most of the houses I buy are resold to investors and I make my money by doing this. I do not charge anything for my services. Just go to my web site by clicking the link.
