We are always afraid of losing something that means the world to us. Whether it’s our phone, our wallet, or a favorite ring. But what happens if our most valuable asset will slip away from our hands?
Having a home is an investment we couldn’t afford to lose. However, certain problems can cause us to lose a home through a familiar process we call a foreclosure.
A foreclosure refers to the act of taking over a house by legal means. It is a lawful process by which the owner surrenders all rights to a property in the event of a mortgage default or some other reason. If your lender has already filed a Notice of Default, and you have missed three mortgage payments, then you will have to surrender the property.
It can be a stressful and depressing situation, but there are ways you can stop it from happening:
Never ignore the issue
As soon as you know that there is a problem with your mortgage, don’t just sit still and watch your house disappear right before your very eyes. You need to act immediately before things get out of hand. Contact your lender once you realize that you’re in trouble. They have options to offer in times of financial difficulties. They are also knowledgeable about this kind of issue, so it’s best to consult with them. You also need to read and respond to their emails so you can be fully informed of your status.
Research for possible solutions on how to get away from a foreclosure. It’s best to know about your state’s laws on this specific issue. You can also search for important pieces of information on how to prevent foreclosures from happening. For one, you can avoid spending too much on luxuries so you can save enough to pay off your loan obligations. You can also sell items that you don’t really need and find an extra income source. Filing for bankruptcy is also an option as it helps you keep your house. However, filing for bankruptcy protection should be your last resort as you still have other alternatives to consider such as reinstatement, modification or an emergency injunction. You can actually stop a foreclosure even without filing for bankruptcy if you take actions at the soonest possible time.
Sell your home for fast cash
Dealing with these kinds of problems are better off handled a trusted partner that can walk you get through this complicated situation. In some cases, if you think a foreclosure is inevitable, you might as well lessen the impact by simply giving up on the property altogether. This will save you from financial burdens in the future.
One thing’s for sure, you always have the option of selling your home before a foreclosure happens. With that being said, you need to find a company that specializes in buying houses as-is.
With All Cash for Homes PGH, you can sell your home for quick and easy cash. Based in Pittsburgh, the company makes it easier for you to access funds to pay off debts. Using a simple and straightforward process, All Cash for Homes PGH closes deals within a 30-day period, allowing you to recover as fast as you can say “Rebound!
Contact us today so you can solve a foreclosure problem you’re currently facing.