Paying all the bills on a home can be a daunting task and sometimes we get behind on bills. Here are 10 tips to follow to avoid foreclosure on your home.
“I want to Avoid foreclosure”
For every 200 homes, 1 is foreclosed.
Foreclosure is the unfortunate result of a mortgagor not paying their mortgage payments. It creeps on many people and can leave you without a home.
Don’t let mortgage payments become your enemy. Take control of your financials and tight situation to provide the best outcome for yourself and loved ones.
Below are 10 tips you can practice to avoid foreclosure. Make sure you keep reading to keep calm and your head above water. It’s difficult, but it’s completely possible.
1. Make a Budget
Sit down with yourself, or with a loved one, and make a budget for yourself. One of the biggest things keeping people from paying their mortgage is the unnecessary spending on other things.
Start doing things like eating out less and meal planning more. Rent movies to watch at home instead of taking the whole family out to see one.
It’s little steps you can do today that make all the difference when the bill comes. If you need a little extra help, that’s okay too.
2. Check Your Mail
While it seems like such a simple task, many people neglect doing it due to fear and avoidance.
In the mail, you may receive options from your lender helping you to avoid foreclosure. Not only this, but you may also receive updates on pending legal actions.
3. Take Control
Many times, when people run the risk of foreclosure, they avoid the issue. It’s okay to admit you have had trouble paying your bills.
Once you fully accept your situation, step up and take control of it. There are ways to get assistance, and it is perfectly fine to accept a helping hand.
Don’t let the stress and fear cause you to spend more money.
4. Find an Offer
Once your lender files a Notice of Default, you have a short amount of time before an auction is scheduled. Take advantage of this time.
If someone makes an offer to buy your home, the lender considers it. In the case of short sell offer, you buy yourself more time. If you want to stop foreclosure just contact us and we’ll make you an instant offer to purchase your home.
We can buy your house even if you are in pre-forclosure
- you won’t need to improve,clean up, or repair the house in any way. We’ll buy it as is.
- We are fast. If you accept our proposal, we put it in writing and close in as little as 9 days.
- We handle all paperwork, we are experts and can answer all your questions
Take all action in trying to find a buyer for your home.
5. Assess Your Assets
Not only is there the option of turning the house into cash, you may also see you have a car, jewelry, or other valuable items to sell for money.
Short term adjustments to your life can help you stop foreclosures.
6. Steer Clear from Major Prevention Companies
If you run the risk of foreclosure, many companies will be reaching out offering foreclosure prevention strategies.
When signing up for help with one of these companies, you are only spending more money. Instead of signing away to them, speak with your lender.
7. Know Your Rights
To make sure all action is being handled correctly, go back and read your loan documents. By getting in contact with state government, you’ll also have a comprehensive understanding of due dates and time.
Knowledge will help you avoid foreclosure.
8. Reach a Compromise
Your lender doesn’t want to sell your home. One of the top ways to avoid foreclosure is sitting down with your lender and working out a compromise.
You will be surprised what he/she offers.
9. Avoid Scams
If a firm promises to help you avoid foreclosure immediately by signing a document, look into the fine lines. It’ll save you! We can provide you with professional references in El Paso and past buyers. We can prove beyond any reasonable doubt that we close a lot of deals and our customer are very happy with the service we provide.
10. Declare Bankruptcy
Declaring bankruptcy will stop the foreclosure process. It is considered a collection process, a process not allowed once bankruptcy is declared. The point to avoiding foreclosure is to get time to get back on your feet and improve your financial situation. Bankruptcy may or may not be your best option so it’s encouraged that you speak to an attorney.
Avoid Foreclosure Now
Taking the above tips and steps to avoid foreclosure may be difficult, but they will be worth it.
If you are interested in selling your home and need a little extra cash, check out the rest of our site to see how it works.