6 Steps to Stop Pre-Foreclousure and save your Credit!

Explore how we simplify the home selling process for you.

Step 1. Reinstate The Loan - Catch up on the back payments

At this stage, you currently missed your first mortgage payment and are 30 days past due. Before you get too far behind you want to exhaust your resources to see if you will be able to make up the payment behind.

Here are a few options

• When you spoke to family and friends how do it go?

• Borrow from emergency funds or 401k/retirement

• Try to apply for personal loan

• Get second income

Step 2. Loan Modification - must start 37 days before auction

• At this stage you have just missed your 2nd payment and now 60 days behind. At this point you want to get in contact with your current mortgage service to see if there is a loan modification option you qualify for. If your home is going to auction, you must file 37 days before the scheduled date. Here are some qualifications to qualify for forbearance (forgive to the end of the loan) or deferment (short term forgiveness with lump sum do, typically short term and accrued legal fees.

Qualifications:

• 12 months of consecutive payments before you missed a payment

• Need to make 2x their mortgage with proof

• When you are 90 days late you want to start exploring this option if you want to stay in the home. This doesn't stop the foreclosure; it just extends it. This does accrue legal fees.

Step 3. Chapter 13 Bankruptcy (consult with attorney)

Step 4. - List with a Realtor

Step 5.- Sell Your Home to an Investor who can close quickly with cash like US!

Step 6. Little Equity (short sale or save your credit with our CREATIVE FINANCING OPTION

Pros:

• Typically get Top Dollar

• This option is for homeowners with very little equity. We can catch up your payments to help save your credit from 150 point hit, take over your payments, and give you cash in hand to start next chapter.

Cons:

• 6% Realtor Commission

• Timeline to sell - 4-6 months

• Deal with Property Tours - 10-20 showing

• Money for Repairs required - move in ready

• Home Inspections Contingency

• Finance Contingency

Pros

• Fast Closings - Close in less than 30 days or you pick the closing date

• No Commissions - Realtor commission are 6% of the sales price. $500,000 x 6% = $30,000 in commission fees

• No Closing Cost or Fees - We pay closing cost. The purchase price is the amount you will walk away with at closing

• No Repairs - we buy the home as-is. Just take the items you want and leave the rest