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Have one of the following
situations forced your lender to file Foreclosure proceedings?
We don’t know what happened in
your life to bring you to the point of foreclosure, but we do know
that we can help. We also know that you likely have little idea as to
your options – See below.
"My Lender has
filed Foreclosure - Now what do I do?"
The first few days and weeks
following the initial forclosure proceedings are a critical time
frame. What you do (or don't do) will affect you for the
next 10 years!
In most every area of the country
we have observed that almost all people being foreclosed upon take one
of the following INCORRECT actions:
File Bankruptcy:*
This is the number one reaction by most people and it is also one
of the worst things you could possibly do! In most states
bankruptcy (BK) will only POSTPONE your foreclosure NOT prevent it.
The lender is not allowed to foreclose on your home WHILE you are in
BK, BUT as soon as your BK discharges the foreclosure
proceedings begin again.
If you wanted to sell
while in BK you have to go to the court and seek permission to do so.
Remember, the Bankruptcy Trustee is responsible for protecting the
interest of your creditors - not you.
To make matters worse, in the end you will have succeeded only in alienating your lender even
further, and striking a dual, lethal blow to your credit.
What do we mean by that? Your credit report will now show BOTH a
Bankruptcy and THEN a Foreclosure. This is an extremely important
detail. ANY derogatory credit AFTER a BK, especially a foreclosure,
makes you ineligible for any of the post-bankruptcy lending
programs. We call this the 'Credit Kiss of Death.' Just ask your local
banker or mortgage professional. We can offer a viable alternative!
Call 1-877-SOLD-IN-2DAYS now.
Ignore/Avoid the Summons of
Foreclosure: Another very common reaction. In our estimation
approximately 95% - 99% of those who have had foreclosure filed
against them never answer the suit and simply forfeit the home along
with their credit and any equity they may have built up. Just because
you won't sign for those Certified Letters from your lenders'
attorney, or won't answer the door if you think it is a process server
knocking does not mean that you have put off the process. On the
contrary, if you fail to respond the lender is awarded a speedy
and automatic Judgment of Foreclosure. This greatly diminishes
your options and means your home will be sold at the local Sheriff's
Sale in a matter of only weeks. We can offer a viable
alternative! Call 1-877-SOLD-IN-2DAYS now.
Abandon the House in the
Middle of the Night: While this may save many embarrassing
questions from your friends and neighbors, it does leave you with a
few logistical problems. How are you going to get a U-Haul truck there
without anyone noticing? Who is going to help you load if you don't
want your neighbors to know? We can offer a viable alternative!
Call 1-877-SOLD-IN-2DAYS now.
Deed in Lieu of Foreclosure:
Many lenders will contact you to let you know that they are going to
'give you a break' and just let you deed the house back to them. The
part they don't explain is that is EXACTLY the same as a judgment of
foreclosure and subsequent Sheriff Sale in terms of your credit
report. Think of it as a 'Voluntary Repo.' Just because you handed
them the keys instead of making them come and take them back doesn't
make it any better in the eyes of future creditors. The only thing
this does is make the lender spend less money in attorney fees to get
the home back. We can offer a viable alternative! Call 1-877-SOLD-IN-2DAYS
now.
Let the Home Go and Start
Again in 7 Years: According to the newest Credit Reporting
Guidelines, creditors can now report your derogatory information for a
full 10 years (instead of the original 7 years). While most people
think you can't get a loan after foreclosure this is not entirely
true. There are lenders out there who will make a loan after 2 or 3
years of newly established, clean credit after your foreclosure. BUT
even they know they are taking a big risk. In the world of lending
money, the higher the risk - the higher the rate (and
down-payment). You could end up paying twice as much or more
what everyone else on the street pays for a house due to increased
interest rates. On the other hand, credit delinquencies, even
seriously late payments can be overcome in as little as a couple of
years, without the corresponding jump in interest rates. Don’t lose your long term credit rating and your ability to
start over again once your situation improves. Call 1-877-SOLD-IN-2DAYS now.
List with a Realtor®
and Try to Sell:
Will they be able to sell in
time? The average listing time in most parts of Indiana is between 6
months to sometimes well over a year. Is your lender going to wait
that long hoping you will catch up the payments?
Is there enough
equity in your home to sell it? Most foreclosures happen within the
first few years of ownership during a time when there is little to no
equity built up in the home. Many people who have owned the home for
less than 7 years have so little equity that they would have to pay
the realtors' commission out of their own pockets in order to sell. If
you don't have the money to make the payments, where are you going to
find enough to pay 7% of the sale price? At 2DayHomeBuyers.com you
never pay a commission because we are not realtors. We don't want to
list your home, we want to BUY it. Call us immediately at
1-877-SOLD-IN-2DAYS.
Get a Loan to
Catch Up the House Payments: Called Foreclosure Buyout Loans,
these are available to only a very small number. Any lender willing to
take this risk will only loan a small percentage of the current
conservative value of the home. The main reason a lender makes this
type of loan is that he can demand a very high interest rate. The
reason that they are willing to only loan about half of the value of
the home (or less) is that he already knows that he will likely own
this home in the future. We can offer a
viable alternative! Call 1-877-SOLD-IN-2DAYS now.
Borrow Money from
Friends/Family to Try and Catch Up: If you have not cured the
underlying problem, this can be a risky strategy. You can certainly
risk alienating your family and friends over the money. We can
offer a viable alternative! Call 1-877-SOLD-IN-2DAYS now.
There is an alternative!
Call 2DayHomeBuyers.com Today:
We understand the foreclosure process. We are professional foreclosure
consultants, let us work for you. We have many different buying
programs designed to create a win – win situation for you, us, and the
bank as well. Call us quickly and we may be able to buy your house in
a matter of days effectively stopping the foreclosure process.
ACT FAST - Time is your biggest enemy in the foreclosure
process. If you do not immediately and properly reply to the Summons
of Foreclosure your lender will receive an Automatic Judgment against
you. We know what to do and how to do it. Let us deal directly with
your lender and stop the harassing calls and letters.
Regardless of if you have listed this home before and been unable to
sell it and regardless of the price range of your home, we may be
interested in buying it within a matter of days.
Perhaps you are in
the same situation as most people and have little to no equity
built in your home. We may still be able to buy your house and
save your credit.
We BUY houses - fast.
Notice we did not ask you to list your house. We are NOT realtors®.
We are professional real estate investors who BUY houses on a regular
basis. If your home meets our criteria we may be interested in yours.
Call us today at 1-877-SOLD-IN-2DAYS.
For whatever reason you’re in this
situation, let us help you out of it. At one time or another we have
all had financial struggles. Don’t be embarrassed or uncomfortable
about your situation. Please don’t use that
as an excuse not to call us. Our number is
1-877-SOLD-IN-2DAYS. You may call us day or night.
We can
pay cash for your equity and help you regain your credit rating.
This can
be done in one visit, but you must call us to begin this communication
process. |
