welcome
We are here to help you.
Even though the prospect of facing foreclosure can feel daunting and unsettling, it’s crucial to recognize that you’re not facing this challenge alone.
We’ll guide you through understanding your rights and options, and connect you with professionals to help mitigate the impact as you navigate the foreclosure process.
Understanding your options
Loan Modification
Securing a loan modification entails homeowners actively engaging with their lender and filling out an application to see if they qualify. This typically needs to be done early in the process, so reaching out to your lender as soon as possible will help show if this is an option. Typically for a loan modification to be approved, homeowners must meet certain criteria and show that there has been a hardship resulting in the inability to pay the full mortgage amount as well as the ability to continue making the new mortgage amounts once the modification is approved. For more information on this process, reach out to your mortgage company.
Grant
The availability of grants may fluctuate depending on the organization’s funding status when you apply. Although grants can offer financial relief, it’s important to recognize that funds may be limited and may not cover your entire amount you are in arrears. Moreover, it’s advisable to explore local resources and reach out to housing agencies for additional support.
Traditional Sale/Short Sale
Considering a traditional sale or short sale during a house foreclosure entails a significant decision influenced by several factors. Your position in the foreclosure process and the amount of equity in your home are critical determinants of this option’s feasibility. While a traditional sale or short sale generally requires a minimum of 30 days to finalize, it may extend over several months. Although it presents the potential for the highest financial return, it also entails greater risks, particularly in terms of finding a buyer and successfully completing the transaction.
Investor/Institutional Buyer
Opting to sell to an investor or institutional buyer during a house foreclosure provides a quicker alternative, often closing within a week or two, and can expedite your navigation of the foreclosure process. One advantage lies in their flexibility; they typically impose fewer restrictions on property conditions and may offer more lenient terms, such as allowing time to move out after closing.
hud resources
To find more information on Loan Modication or Grant Resources click HERE
list your home today
For more information on listing your home click HERE
SEll to institutional investor buyer
For more information on selling to an institutioinal – investor buyer click HERE