The challenges of foreclosure
Foreclosure – this single word holds a great deal of power over nearly all of us. None of us ever purchased a home expecting to be facing foreclosure. Sickness, divorce and job loss are some of the most common reasons why homeowner may currently be facing foreclosure. However, there may be a way to protect yourself from the process of foreclosure if you can overcome some of the preliminary challenges.
Lack of upkeep
If you have had an ongoing financial problem, chances are that your home maintenance has also suffered. This often means that selling your home is more difficult because poor maintenance means lower value.
When your current mortgage is greater than the value of your home, is also commonly known as “short sale”. Selling your home for less than the current mortgage means that you cannot release a “clean” title to a buyer unless you pay the difference or your lender accept lower amount then you owe.
Keeping your house
First, homeowner must contact their lender immediately. Government have many different assistance programs available now, make sure discuss your options with your lender. One most important thing is always keep a log for the date, time, name your spoke to and detail of the conversation. Second, follow up and don’t give up until the lender give you an answer.
If you need to sell your house quickly due to time sensitive or you just want to move on with your life, We are not real estate agents nor brokers. You are straight to the source and fast closing no commission to pay. Visit www.radiancehomes.com or call (505) 831-0563 NOW