If you are behind on your mortgage, you are probable thinking “what do i do to avoid the foreclosure of your Beaumont house”. We can help with these tips!
Negotiate With The Bank
The first thing you can do when you have missed a few payments is call your lender and discuss your available options with them. After all, they are there to make money and not to take houses. they just want to see the return on their investment, they don’t benefit when you default on your loan. Often times you will be able to negotiate a repayment plan to get caught up on what you own. They aren’t as scary as you think. Remember there is a person on the other end of the line. Most times they want to help so ask questions to see what they can do. So before you pack your bags and sneak out in the middle of the night, call your lender, you might be surprised at what they will do to work with you. If you don’t ask you will never know.
Now a short sale occurs when the lender agrees to let you sell your house for less than what is currently owed on it. This happens if a home is purchased for one price, only to lose value over time do to market or condition. If the owner gets behind on payments, then they might find themselves in a place where they owe more than the home is worth. This is more common then you may think. Lenders will often agree to a short sale when they see this as a means of recouping most of their costs, while not having to deal with the foreclosure process. When a sale amount is agreed upon with the lender and a buyer comes through, the mortgage lender will consider the loan paid in full. This is a win win for both parties.
Sell Your House
Maybe you simply want to put an end to a difficult situation. The house may no longer be affordable or worth the hassle for you any longer, and that is ok! Things change whether it be a job loss, people moving in or out, an illness, new addition, education costs and so much more. Life changes we understand. There are all kinds of things that happen in life that might change your ability to pay back your loan. There is no shame in this, however, you should work on finding a solution that works! Your future can depend on it. A foreclosure last 7 years on your credit score. OUCH!
If you decide to sell your house in the traditional sense, without negotiating a short sale with the lender, there are two main ways you can go. The first would be to put your house on the MLS with a Beaumont agent. The second would be to sell your house directly to a private buyer in a short amount of time without any additional costs to you. We at The Aida Group are one of those kind of private buyers.
Depending on where you stand financially, this may or may not be a wise option. Listing your Beaumont house can take months, and if your agent isn’t working with the urgency they should be, you might find yourself losing your house to the bank because your agent wasn’t able to find a buyer in time. In addition, you will have to deal with out of pocket costs that may be difficult to pay if you are struggling financially. If your mortgage is behind, it is highly likely that you haven’t been able to keep up with the maintenance on the home either. We understand things like this happen. For a listing to be successful, you will need to get the house into the best shape you can.
A direct sale is a preferred choice for many people who are facing foreclosure. Not all buyers are the same. When you choose to sell your Beaumont house to The Aida Group, you can rest assured you will receive a fair price and a fast closing. We understand that difficult financial situations can happen to anyone at any time. We have all been there, there is no shame in it! Let us help you with a fast and fair sell of your Beaumont house!