Life is not always about creams and peaches. We’ve all at one time been through some rough patches. And as a homeowner in Houston, Texas, a rough patch may mean losing that one investment that’s dear to you – your house!
You’ll know you’re about to lose my home in Houston, Texas, after you’ve missed one or two mortgage payments, or insurance. Facing foreclosure is every homeowner’s nightmare, and We Buy Fast Houston Houses understands that all too well.
Foreclosures in Houston, Texas, happen even to the best of us
It’s not something new. We have all, at some point, felt exposed even though most of the time we make sound financial decisions. In most cases, the process doesn’t begin until you miss at least 3 payments. But before we get into details of how you can mitigate foreclosure, let’s first make sure that we fully understand the process.
It’s basically the legal process through which banks or lenders repossess a home if the owner has defaulted on the loan. The first stage of the foreclosure process is known as pre-foreclosure. It’s the stage where you get a warning in the form of a Notice of default.
At that stage, you can still save your home or at least try to keep your credit report clean. You can find a buyer who’s willing to make you an all-cash offer and close the deal fast, or you can work with a short sale.
We Buy Fast Houston Houses can buy my home as-is and help you pay off the debt. Making an as-is purchase means that you won’t have to spend more money working on repairs, upgrades, or cleaning the property. You’ll be saving the little money that you have, and add more to it once you’re done with the sale.
What about a short sale?
A short sale in a completely different process. It’s where the property owner tries to sell my home fast, but its market value will be short of the balance because of the mortgage. If you think this is the option that you want to run with, you should first talk to your lender because not all banks accept offers that are less than the due balance.
Is a direct sale really the answer?
That depends on what you want. All we can say is, you need to avoid foreclosure at all costs. It’s not something that you want on your credit report. You can miss out of so many opportunities in future just because you were not knowledgeable enough to understand its ripple effects.
We Buy Fast Houston Houses has already told you that you won’t have to use your money when selling directly to us. What we haven’t told you is, a direct sale will also eliminate the middleman from the process. You won’t have to work with a real estate agent, so the commission that you would be paying them will go into your pocket.
So what do you think? Are we ready to sell quickly and pay off the debt? Just call us, today!