How to avoid foreclosure in Florida
Facing foreclosure is never an easy experience, and it can put a family under emotional and physical distress. However, there are several ways to fighting this process and there are various solutions you should consider when facing foreclosure:
Try to re-modify the loan
You can reach an agreement with the lending institution.
The banks aren’t the enemy. They are in the financing business because they are trying to make money. The key is to remember that banks, are run by people, and people can communicate and find creative solutions.
When facing a foreclosure, try to see what the lending institution you borrowed money from can do for you. You’d be surprised but sometimes banks help homeowners by modifying loans or postpone payments.
When you are able to postpone your payments, you can get back on your feet on time and avoid foreclosure.
Remember…The banks don’t like dealing with foreclosures since it’s a long and costly process for them too. The Bank needs to go to court and hire attorneys. Even when the bank holds possession of the property, it’s usually distressed, and it’ll be hard for them to locate a potential buyer.
Banks are in the finance and lending business, not real-estate. This is why it’s in the bank’s best interest to reach an agreement that works for both sides.
Bankruptcy
In many cases, homeowners who face foreclosure try to look for the easiest solution and file for bankruptcy.
Filing for bankruptcy puts the foreclosure process on hold, but most likely it won’t stop the inevitable, and as a homeowner, you would end up losing the property anyway. Nonetheless, you’d still have a bankruptcy on your credit report, which makes things harder when life turns around and you want to be a homeowner again. A lending institution can see that you filed for bankruptcy, and you’ll have a hard time qualifying for a loan.
Your Best Option!
The best solution is to sell your home before you are have received a notice that a foreclosure process is about to begin, or right afterward.
In the long run- this solution would have the least of impacts on you and your family. There would be no serious impacts on your credit, and you wouldn’t have to file bankruptcy or lose all of the equity you have acquired on your home.
We can help you sell your house, or we can give you a cash offer within 24 hours.
We would want to work with you and understand your situation. Let us figure out together what is the best, most beneficial way for you to sell your home.
Receive a cash offer for your house!
We will give you a cash offer in as little as 24 hours. Not only we buy your house for cash – but we also offer you to share the future profit we’ll make.
If you want to learn more about us, click here.
This way, you can avoid the foreclosure process immediately, and start a new page.
We can also help you find a new place to rent or buy and we promise to be as professional as possible. It is a guarantee that we will ease this process as much as we can. Our goal is to get you back on track and see us again next time you buy a house.