Is your home in foreclosure? Will you lose your home? Why you should consider selling the property with a real estate agent instead of Investor.
Advantages of using a Real Estate Agent...
Whether you want to buy a foreclosed house, or your house is being foreclosed, investing with a real estate agent is extremely beneficial.
If you are interested in investing in a foreclosed home and/or then selling it, having a real estate agent will help you in various ways. For one, a real estate agent will compare the market values of several properties. This will help you to determine if your prospective investment is a fair market value. Real estate agents also have access to MLS or Multiple Listing Service. This is a detailed list of properties on the market and those available for purchase. MLS is a very useful tool. Another advantage of having a real estate agent is that they are knowledgeable about the neighborhoods in your potential area. They know which ones are on the rise and hold their value.
Selling foreclosed home
Having a real estate agent is also valuable if your home is being foreclosed. Unlike selling with the lender, a real estate agent knows what is marketable and can usually sell your property for a good price. Real estate agents can give advice about repairing your house in a way that will be pleasing to a buyer.
Find Out How Much Your Bay Area Home is Worth and to get the best possible price for your pre-foreclosed home, contact me now before it's too late. I can usually get you a buyer without making your home for sale for the public and for the highest possible price.
Why should you sell your foreclosed home with my help ? it's simple as this, I can get you the highest possible price for your home, an Investor will buy your home to make a profit for themselves. Usually investors will try to buy your home on a discount up to 30%, less money for you and more money for the investors. Let me help you achieve the highest possible price for your home. Call me at 510-410-8026 and I value your privacy.
Why help you instead of Investors? I believe in making an honest living and I don't fancy a lot of investor taking advantage of people's situation. I make money knowing that
I helped someone.
For HomeOwners who are in Foreclosures
Let’s start by stating there is no reason for you to be in foreclosure! This can only occur if you let it happen. The only thing you cannot control is if you are unable to change your financial misfortune in the immediate future and there is the necessity of leaving your home.
Yes, you may not be able to keep your home but you can still rescue some of your investment, possibly even make a profit and save your dignity.
Keep in mind that you have a number of options to cure your situation:
A) If there is sufficient equity in the home, you can apply for a second (or junior) mortgage. Second mortgage brokers are not particularly interested in your credit history. What they are concerned with is your ability to pay NOW. They are especially interested in your ability to pay the first (or senior) mortgage and their second mortgage. If you are able to make these payments and are obtaining the second mortgage to cure first mortgage arrears, you should be able to finalize the second mortgage.
B) Second mortgage brokers are not anxious to lend funds to homeowners in a possible foreclosure situation since, in the event of foreclosure proceedings, the primary mortgage holder is under no obligation to satisfy the second mortgage holder’s loan.
C) Refinancing, if rates are favorable, can without a cash-out clause often lower the monthly payments and make living in the house affordable. However, refinancing requires a good credit rating and sufficient income to pay the loan.
D) Partial Claim: you may be eligible to receive a one-time payment from the FHA Insurance fund. Your lender may be able to help you with this claim. You may be eligible for this assistance if your loan is in arrears for at least four months but not more than 12 months delinquent. In addition, you must be able to begin making your full mortgage payments immediately.
E) If you are in fact eligible for this Partial Claim, HUD will pay your lender the amount required to cure your delinquency. HUD requires you to sign a Promissory note which is interest free. This Note must be paid off when you either sell your property or pay off your first mortgage. In the meantime, HUD will have a lien on your property.
F) Forebearance: If you are able to pay the monthly mortgage but do not have sufficient funds to make a lump sum payment toward any accrued arrears, the bank (or lender) may allow partial arrears payments to be paid on a monthly basis along with the current mortgage due payments.
G) Finally, again depending on your ability to repay, you may be able to cure your mortgage arrears with a loan from family or friends. If you are experiencing a temporary financial problem, this can provide a fast cure since there are not the usual legal papers to fill out. However, be sure you can pay them back or you will be putting them in an unpleasant and difficult situation when they expect to be repaid.
H) Perhaps you have some assets you can sell to raise enough funds to catch up with your past mortgage payments.
Taking any of the foregoing actions should solve your problem and help you avoid the loss of your home without due compensation. Remember, foreclosure only happens due to the inaction of the homeowner.
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