I know, you’d certainly rather be watching a relaxing TV show to hunting ways to get help with foreclosure issues. Having been in your shoes and rifled through all the mailings, websites, re-modification offers, investors, short-sale and deed-in-lieu options, then having come out the other side, I can give you an insight or two on how to get some help with foreclosure problems.
First off, if you want to keep the house, most of the re-modifications arranged by the bank your using for your mortgage end up not working out. Of the people I know that tried to work that out, each of them has ended up needing to short-sell or deed the house back to the bank later. There is a firm I’ve talked to that claims to be able to forestall the foreclosure and work out a successful loan re-modification for a reasonable outside fee. I’ve linked them in here and would advise your using them over trying to deal directly with your bank, based on the fact they know the process and unlike your bank, aren’t trying to boot you out with high priced foreclosure lawyers. I’ve read their testimonials and talked with their ownership. It seems solid and they are quite confident on their ability to put a hiatus on your foreclosure right away. Well worth a fee that is likely not much more than one house payment for their help with foreclosure expertise. Kind of like the difference in hiring a lawyer to represent you in court, or trying to do it yourself. Which is generally going to be more successful?
If you’ve elected to move out, or have already, I can likely help you with a short-sale as a Realtor, or a buyout by an investor. If you are still in the property but don’t want to keep it, you also have the option of doing what is called a deed-in-lieu, wherein you actually turn the property back over to the bank and just walk away. This can be smoother and less painful than a short sale if the bank will let you do it. I can assist you in the initial communication and document submission. Once the bank has accepted you as a deed-in-lieu, they will be working with you directly until you sign the house over and there will be no need of a realtor being involved. They do generally require you to be still living in the property to do this option.
The above is the help with foreclosure option we took. It actually was a smooth move, up until we actually had to move out and started really regretting the situation. We moved into a smaller rent house about 20 miles outside of Tulsa. My God, I don’t even like remembering it. We could not get rid of enough stuff to downsize into that house.
The porch looked like the Clampets old place with our big doublewide refrigerator on it cause couldn’t go through the doors. We had all kinds of furniture and stuff that would not fit under the carport and on the porch. Ended up giving away the couch. Our oldest and most favored Chihuahua nearly got run over when he ran out in the street. My wife nearly had a heart attack watching as the truck ran over him, but missed him with its tires.
Turns out there were 40-50 cats that lived in the neighborhood, most of them living next door in a run-down house with holes in the roof and walls and an old hippy with an arrest record who stayed stoned most of the time. The cats used the gravel in our driveway as their litter box. When it rained, oh my God! Cat urine smell, thick as molasses.
The place was built in 1935 and the floor boards creaked when you walked on them. The walls were out of plumb and the doors would not stay shut. It was a two bed, one bath, and we had moved from a 3 bed two bath. You just can’t get used to that kind of down change.
What really finished us on the idea of giving up on our house was the plume of raw sewage that arose three feet from a vent pipe beside the back porch the first time the washer hit its drain cycle. Took me all Sunday with a friend to rooter it out and the wife was totally upset.
Fortunately we had not signed the final papers surrendering our house and we moved back into it only 7 days after we left. Lotta money and exhausting work in all that moving. After literally hitting up family and friends for the money to bring the thing current, we realized the retirement accounts in annuities could indeed be cashed in for such an emergency. It took six weeks working with a good account manager to get three of them to choke up most of what we had put away over the last 10 years or so, $17,000 and some change. However, you just don’t realize what a peaceful feeling it is to cook out on your own porch, settle into your own place and go mow your own lawn till you nearly loose it.
We got into the situation by loosing about 40K in 2008 on two houses we were rehabbing and flipping for a profit. We had been making a profit doing that, but when the market went bust, they sold for less than we had in them and the loss was covered by credit cards. Took 4 years before two of them were finally able to get a garnishments on us which pulled out the house payment money and led to the foreclosure after another year or two.
The garnishments were finally paid and we consolidated the rest with a debt management firm called Pacifidebt to stave off the rest. In the mean time, I invested in real-estate and investment courses, got my Realtors license and Certificated as a Distressed Property Expert, meaning I knew how to drive a short sale through to approval. Not an easy thing by any means.
That’s my story and I’m sticking to it. I’m still teaching school and working with the National Guard when tornado’s blow through, or an occasional vacation to some sandy wasteland, but I’m in the business now to help with foreclosure. If I can’t do the job, I do know others more experienced than I who can and I’ll stay connected till your issue is cleared up some how. Networking is key, and not being greedy.
It is important to step back and just breathe. It’s not the end of the world and you’re definitely not the only fish in this boats stringer. Give me a call or fill out the form. It’s not an easy process, but it is doable and a whole lot better than just letting your place slide through a foreclosure and getting kicked out by a sheriff. Give us a call and we’ll get you help with foreclosure pressures.[Home] › [Investor Buyout] › [Help With Foreclosure]
Legal representation or advice is recommended in all legal matters. This site and brokerage represented is not affiliated with the government. If you use our services, your lender may not agree to accept a short sale or change the terms of your loan. We do not advise you stop paying your mortgage.
? Whats with the doggie? Well, Miss Piggy is a rescue dog taken away from an abusive home by a veterinarian after he treated her for wounds in which she lost an eye. She is now a very happy doggie and I thought, a much prettier face than mine. She escaped her bad home… as will you, escape mortgage, stop foreclosure and smile:)