Hi everyone, this is Alex from Costal Edge Homebuyers. Are you dealing with a situation where you’re facing foreclosure? If you are, we may be able to help you out. I’m a home retention specialist with Costal Edge Homebuyers, and I wanted to let you know that please don’t fret, there is a “light at the end of the tunnel”.
File Bankruptcy Or Sell The House?
There may be some things we can employ, some strategies to help you out in order to keep your house. If all else fails, then the last choice may be to do either bankruptcy or maybe even sell the house. Selling the house may or may not be the first option and for many people it’s not. What we do is, if you’re facing foreclosure, we’ll be happy to talk to you and see how we can actually help you out keep your house . That is the first thing that we try to do.
Loan Mod Is One Of The Best Ways
So, we look over the situation, you know, how much you’re “in the arrears”, what the condition of the house is and see what can you do? Number one thing is – you can do a loan modification (Loan Mod). You can work with your mortgage lender and get something situated. If you can prove income, then there is a chance to get that approved, but that’s completely up to the mortgage company, to make a decision on that. So, you can possibly get that and if that happens, you don’t have to pay anything up up front, besides just your regular monthly payments. Whatever you were in the arrears, they put it on the back of the loan, kind of like a forbearance. Basically, what happens is, they put it on the back of the loan, and you owe it later. They will change a little bit the terms of the loan, but the good news is you don’t have to come up with 5, 10, 15k right now to become current. It’s a big help to most people and it’s the best way out of a situation like this.
What Else Can You Do?
Now, if that doesn’t work, there’s some other things that we can employ, and if you are facing that situation, give us a call. We’ll be happy to work with you. This is what we specialize in. We’ll be happy to get over all your options and see how we can actually help you keep your house. If that’s not an option, then maybe you can sell the house, which you can do through an agent. In some cases, if you’re running out of time, selling it fast for cash would be your best option. Sometimes it’s your only option. We have some creative financial options which are not available if you go to a traditional sale through an agent. What I mean is that we can take over payments sometimes. If you owe too much, the house may not be sellable in a the way through an agent, if the house’s condition puts you at a sales price, which is let’s say $160,000. But what if you owe $165,000? Then you’re going to be negative five (thousand). That’s not going to work. So, in some cases, if we take over the mortgage payments, if that does work, and we can help you figure that out very quickly, then maybe that’s the way to go. In some cases, selling through an agent simply does not work.
Is Selling The House A Good Option?
If you owe too much, if you’re upside down, what we say, it may not be the best option to go through an agent to try to sell the house. You may actually want to explore an option to sell direct. We are Coastal Edge homebuyers. We also buy houses direct with cash, of course, and we help people in these situations where they need to sell a house fast. The good news is that, hey, if you want to go that route, it’s quick cash. You can get cash in any situation, including when we’re taking over the mortgage (payments). So, sometimes it’s your best way out of this. So again, each situation is different. Just give us a call. We’ll be more than happy to work with you.
Don’t be afraid. There’re many people in this situation. And get this – we’re not taking any money up front. We’re not there to get any money from you. We’re simply trying to help you out. Keep your house. If that doesn’t work. Yes, we may be able to buy the house… I say maybe, because depending on conditions and the numbers how much is the arrears, then the decision can be made on that.
So, we’ll be happy to take some time with you free of charge to go over your situation and try to help you out in the best way for you and your family. If you’re facing foreclosure, if you’ve already been given an auction date, just give us a call. There may be a way out of this, without too much fuss.
Just give us a call. We’ll be happy to work with you. We’re Coastal Edge Homebuyers and you can reach us at: 757-414-7117.