If you live in Houston area and have a financial problem, selling your house fast for cash is one one of the best option to avoid a foreclosure. A foreclosure is the last thing you want to happen. That’s why it’s vital that you do everything possible to avoid it. Don’t lose hope if you’ve tried your family and friends and personal lenders to no avail. You still have a handful of options that can help you avoid getting a foreclosure put on your record.
1. Ask for a Deferment or Forbearance
Now is the time if you haven’t yet tried to communicate with your lender about giving you additional time. You can get on the phone and speak with the lender directly. Explain your hardship and see if they will grant you extra time or freeze your payments while you seek additional employment or try to raise the money other ways. You should receive your answer from the mortgage company quickly.
2. Request a Loan Modification
A loan modification is another option you have. A modification is a complete reworking of the original mortgage agreement you signed with the bank. You might qualify for such an amendment if certain circumstances caused you hardship with the existing mortgage. Job loss, the birth of a new child, or a recent divorce may qualify you for a loan modification program that will make your home more affordable to you. You have to start this process as quickly as possible because it may be a lengthy one. You may want to hire an attorney who can try to move the process along faster.
3. File for Bankruptcy
A bankruptcy filing will stop your foreclosure faster than requesting a loan modification will. Your mortgage lender will have to freeze the proceedings to reclaim the home once your attorney officially files bankruptcy. You may be able to continue living in your home and obtain a bankruptcy status. The problem with bankruptcy is that it will be on your record almost as long as a foreclosure will be. Therefore, you will have to decide if it’s a move that you want to make so that you can stay in your home. Contact a reputable bankruptcy attorney if you decide that it’s a viable option for you.
4. Lease the Property
You can consider leasing the property to a reliable and responsible person. It’s possible that you could ask your leasee to provide you with a down payment that’s equal to what you owe the mortgage company. That could stop your foreclosure right away, but you’ll have to allow this person to dwell in your home. It’s an option that could work well if you want to maintain ownership. You just have to be careful and conduct thorough background checks so that you don’t lease the property to someone who will default on the agreement.
5. Sell to a Houston Home Investor
Avenue Houston Home Buyer, a Houston home investor may be perfect if none of the above options seem right for you. An interested investor will buy your property quickly, and you won’t have to do anything to it before you sell it. Investors already have the means to make the repairs, so they’re willing to buy houses that are flawed, needy, and downright ugly. You can have peace of mind about avoiding foreclosure if you go this route, and you can have cash in your pocket within days if everything goes right. You may be able to take some money from the sale and set yourself up in a lavish apartment.
Life holds many changes and challenges. We never know when we may need to make a swift change. Having a place like Avenue Houston Home Buyer on your side is of great value and relief to people going through any of these situations. If you want a free cash offer for your home, get in touch with us today!
Is your house is in foreclosure (or in danger of it)? Are you considering selling it? We would love to talk to you about how we can help. Just contact us today!
Sell Your House Now, Contact us now if you’re ready to sell your house immediately. We buy houses despite their condition, and we close such deals quickly. Don’t allow a foreclosure to go on your record for 10 years. Put the brakes on the process now with a buyer you can trust.