Facing Foreclosure?
Has your ARM reset to a rate you can't afford? Have you experienced some sort of financial setback? Are you a veteran facing foreclosure in Colorado Springs?
Don’t worry - you don't have to foreclose your home. I have a fast solution to your problem! In this article you will learn how to stop home foreclosure proceedings, how to avoid them and how to get help from the government, including help for veterans. We will closely look at all processes and help you get back on track fast.
But first thing’s first.
What is foreclosure?
Foreclosure is an auction which occurs when the homeowner fails to pay the mortgage. If it can’t be sold at an auction, it becomes a part of the lending institution.
Types of foreclosure
Zillow identifies two types of foreclosure - judicial and non-judicial
Judicial Foreclosure:
A civil lawsuit is formed against the borrower.
Everything is handled by the legal court system.
A notice of pendency is performed.
The court agrees or disagrees on the lender’s decision of foreclosure.
The notice of sale is published.
The process takes from 4 to 8 months.
Non-Judicial Foreclosure:
Non-Judicial Foreclosure:
A deed of trust conveys an interest in real property to a third party to hold as security for repayment of a debt.
The trustee is able to begin foreclosure.
Notice of Default is recorded and the borrower is given a deadline to repay what he owes or object.
The process takes up to 12 months.
How to avoid foreclosure?
If you have current difficulty in paying your mortgage, contact your loan servicer immediately. Federal Deposit Insurance Corporation states that you have to make sure you work directly with your servicer or counseling agency. Offers which are too good to be true are usually a scam. Stay safe and trust only reputable services.
You should also carefully study your budget - track your expenses and see which spendings you can minimize.
How to get help from the government
U.S department of Housing and Urban Development presented several programs, implemented by The Obama Administration, which will help you avoid foreclosure. The list includes Making Home Affordable © (MHA) Program. Its strategy is to "help homeowners avoid foreclosure, stabilize the country's housing market, and improve the nation's economy." Companies like Federal Deposit Insurance Corporation also work towards helping you make easy and affordable repayments to your home.
Avoid foreclosure and get fast cash for your Colorado Springs house. We can make you a fair cash offer within 24 hours!
How to stop foreclosure?
UAC (Urban Affairs Coalition) created a Resource Guide which will help you stop foreclosure. The guide features up-to-date information on how to avoid and stop you from losing your home.
Here are some tips on how to stop foreclosure:
Contact the lender as soon as possible.
Consider loan modification, a repayment plan, a reinstatement, forbearance and any other options available to you.
Refinance your loan.
Sell your home.
If the fourth option seems the best, you’re in for a treat. We buy houses fast and for cash. Within 24 hours of filling out the form you can have a cash offer in your hand. Not only do we pay cash for houses, but we can take that house off your hands in just a matter of days!
Help for veterans
We buy houses all over Colorado Springs, CO, so in most cases we can get you an offer on the same day you submit the form. As veterans ourselves we understand the difficulties of being a veteran and that foreclosure is the last thing you needs. But we're ready to make your life a lot easier. Call or fill out the form today to get your problem house sold!
Schedule A Consultation
Tell us more about your house and your sale timeline.
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Receive a competitive offer based on comparable houses.
Collect Your Money
Close within days with a cash offer and live stress free.
Are you dealing with these problems?
Sell your home fast, no matter the complication.
Get a Cash Offer Within 24 Hours
We continually buy houses in Colorado Springs and work fast to get you a no-obligation cash offer for your house within 24 hours.
Our customers comment all the time about our soft approach. You won't get a hard sell with us. If you are not completely satisfied with the offer we make to buy your house, you don't have to accept it. No charge. No fees.
We'd love to talk to you today about the house and your situation. We're here to help even if you decide not to sell your house.
Give us a call at 719-629-7740 or fill out the form below to get started. We look forward to talking with you.
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