Foreclosure is the legal means that your lender can use to repossess (take over) your home. When this happens, you must move out of your house. If your property is worth less than the total amount you owe on your mortgage loan, a deficiency judgment could be pursued. If that happens, you not only lose your home, you also would owe your lender an additional amount. Both foreclosures and deficiency judgments could seriously affect your ability to qualify for credit in the future. So you should avoid foreclosure if possible.

DO NOT IGNORE THE LETTERS FROM YOUR LENDER. If you are having problems making your payments, call or write to your lender’s loss mitigation department as soon as possible and explain your situation. Be prepared to provide them with financial information, such as your monthly income and expenses. Without this information, they may not be able to help.

Yes you can! We love helping family members of deceased homeowners avoid foreclosure and benefit financially from doing so. As is often the case, we may need to have our Attorney file a probate case so that you can transfer title and sell the property. In fact, this is one of our specialties! Fill out the form on this website, or call us at 754-800-9606 so that we can help you with this matter.

Yes. You may qualify for a number of alternatives to the foreclosure process, including special forbearance, in which your lender may be able to arrange a repayment plan based on your financial situation, and may even provide for a temporary reduction or suspension of your payments. Other foreclosure alternatives include mortgage modification and a “deed-in-lieu” of foreclosure. Learn more about Alternatives to Foreclosure.

A breach exists when the borrower fails to make the payments of principal and interest when due pursuant to the note secured by deed of trust. If the balance of the note is due, the breach would be the failure to make the principal payment due plus interest, by the maturity date. Most deeds of trust have provisions for default being declared when a senior lien, insurance, taxes and assessments have not been paid, or if the property is transferred without the lender’s approval.

Yes, any Lender may initiate a foreclose if you are more than 90 days behind in payments.

No. You already gave your permission; when you signed the note and deed of trust.

Contact your mortgage company as soon as you can—even if you haven’t missed a payment but think you might in the near future. Find contact information for your mortgage company in your mortgage coupon book or monthly mortgage statement.

Your mortgage company or a Fannie Mae Mortgage Help Network partner can help you understand the specific options available to you, which could include a short-term solution to help you get back on your feet or a long-term solution to modify the terms of your mortgage. Be sure to review possible options here so you can have an informed discussion with your mortgage company.

The sooner you call your mortgage company, the more options that may be available to help you avoid foreclosure. Be sure to make a list of questions so you can have an informed discussion with your mortgage company. Contact information is on your monthly mortgage statement or coupon book. If you are unable to reach your mortgage company or you prefer speaking with us to see how we can help, fill out the form on this website, or call us at 754-800-9606.

If your home has already been foreclosed and transferred to your Mortgage Company or the new owner if it was sold at Auction, your ability to regain your home may vary depending on the state in which your home is located. If you have been contacted by an eviction attorney, please reach out to the attorney as soon as possible to let them know you wish to regain your home. Otherwise, if the property has been listed for sale, contact the real estate agent who is handling the listing. If you are unable to contact the eviction attorney or listing agent, contact an Attorney.

Your mortgage company may require you to pay the difference between what your foreclosed home sold for and what you owe on it. (This amount is sometimes referred to as a deficiency. Although for properties located in some states, the law restricts or does not allow the mortgage company to maintain an action against you for a deficiency.) That’s why it’s important to begin working with your mortgage company before the property reaches foreclosure. By doing so, you may have other options available to you, such as a Short Sale or a Deed-in-Lieu of Foreclosure, which may be able to help you avoid foreclosure and resolve/settle your mortgage delinquency.

You would only get money back if the property is sold at a foreclosure sale where the purchaser is a third party (that is, a party other than the mortgage company) and the purchaser bids more than is required to pay your indebtedness in full (as well as paying off any other liens, such as judgment liens and a second mortgage). If your mortgage company acquires the property during the foreclosure sale, any gain from a later sale would go to the mortgage company.

If you are foreclosed upon, your rights to occupy the property will be governed by local and state law, but your lender will likely start eviction proceedings quickly. Always check with your mortgage company on any options that may be available, such as the potential to lease the home or relocation assistance.

No. There are too many options available that can help you avoid foreclosure, so walking away from your property is not a good choice. If you are no longer able to afford your mortgage payments and would like to leave, you may be eligible for a Short Sale or a Mortgage Release (Deed-in-Lieu of Foreclosure). Or you may be able to lease the property for a period of time with the Mortgage Release program. If you abandon your property, you may not qualify for assistance and you will not be able to get a new mortgage to purchase another home for at least 7 years.

Foreclosures are very damaging to your credit and may impact your credit rating for as long as seven to ten years. A foreclosure can make it difficult to get a loan for a future home purchase or college expenses, get a major credit card, or it may even potentially affect future employment (many employers screen for credit as a part of a background check). In addition, when you are able to get credit, your interest rates will likely be higher. If you’ve inherited the house from a loved one who has passed away, the mortgage will not affect your credit. But by working with us, you’ll be able to sell the house and benefit financially by doing so, as opposed to missing your opportunity by letting it foreclose and getting nothing.

We’re not agents, and we don’t list houses. We are professional home buyers: we buy houses that meet our purchasing criteria.

Many of the houses we purchase are below market value (we do this so we can resell it at a profit to another home owner). We are looking to get a fair discount on a property. However, in our experience, many sellers aren’t necessarily expecting a large “windfall” on the property but rather appreciate that we can offer cash, we close very quickly (no waiting for financing) or not so quickly (depending on if you need more time to move), and no time or effort or expense is required on your part of fix up the property or pay agent fees. If any of this is what you’re looking for and you see the value in getting your house sold… let’s see what win-win scenario we can come up with so you can successfully meet your objectives. You have nothing to lose and everything to gain.

We’re an open book: Our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and values of comparable houses sold in the area recently. As you know, house values have risen in the last few years. We take many pieces of information into consideration… and come up with a fair price that works for us and works for you too.

This is what makes us stand out from the traditional method of selling your house: There are NO fees or commissions when you sell your house us. We’ll make you an offer, and if it’s a fit then we’ll buy your house (and we’ll often pay for the closing costs too – just ask). No hassle. No fees. We make our money after we pay for repairs on the house (if any) and sell it for a profit. We’re taking all of the risk here on whether we can sell it for a profit or not, but once we buy the house from you… the responsibility is ours and you walk away without the burden of the property and it’s payments… and with cash in your hand.

Real estate agents list properties and hope that someone will buy them. The agent shows the properties to prospective buyers if there are any, and then take a percentage of the sale price if they find a buyer. Typically, the agent’s commission is 6% of the sale price of your house (so for example, if it’s a $100,000 house, you’ll have to pay an additional $6,000 in commissions to an agent). Agents provide a great service for those that can wait months for the house to finally close, and who don’t mind giving up a big chunk of that sale price to pay for the commissions to the agent. But that’s where we’re different: we’re not agents. We are professional home buyers. We’re the people who the agents try to sell the house to. Why not save money since we’re actually the one buying the house, and sell directly to us? We pay with all cash, and can make a decision to buy your house within a couple days (sometimes the same day). We take all the risk to buy the house with our own cash and make all the necessary upgrades and repairs so that you don’t have to.

There is absolutely zero obligation for you. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out a bit more, and make you an all-cash offer that’s fair for you and fair for us. From there, it’s 100% your decision on whether or not you’d like to sell your house to us… and we won’t hassle or harass you. It’s 100% your decision. We will make you aware of your options, but you are the one that decides what’s right for you.