Regardless of whether you’ve experienced a recent death in the family, have large medical bills due to an illness, lost your job, or are going through a divorce, having the bank try to take your home through foreclosure can be one of the most stressful situations a person can go through. When facing foreclosure many people fall into the trap of doing nothing and hoping their problems will go away. Don’t let this be you! We specialize in helping people stop the bank from taking their home.

If your house payments are more than a 90 days behind you’ve probably already received a Notice of Default from your lender, and their foreclosure proceedings have already started. As time goes on hundreds or even thousands of dollars are being added to the amount your lender is owed in the form of late fees, penalties, and legal fees. Every single day that you delay taking action means you are getting deeper and deeper into debt!

The first step in dealing with a foreclosure is to learn what your options are. The more informed you are about the foreclosure process the better decision you will be able to make. Below is a list of common ways that you can deal with your situation.

• Let Your Home Go To Auction
• Believe it or not people with and without equity let the bank take their homes back every day. If you delay too long before taking action this could be you, whether you choose this option or not.
• Talk To The Bank About A Repayment Plan
• Depending on your situation the bank may allow you to make up your missed payments over a period of time. These repayment or 'forebearance' plans will typically require a downpayment, then include your normal monthly payment along with additional monthly payments to bring your loan current. Talk to your lending institution to see if you qualify for this type of repayment plan.
• Deed Your Home To The Bank
• A less preferred option to deal with foreclosure, called 'Deed in Lieu of Foreclosure', is when you simply give your home back to the bank. If you have no other mortgages or credit lines on your house and are sure that you will not be able to sell or bring your payment current this may be a possible option for you. Talk to your lending institution for more information on Deed In Lieu of Foreclosure.
• Seek Advice About Bankruptcy
• Declaring bankruptcy may temporary delay the bank's foreclosure proceedings, however if you declare bankruptcy you will typically not be able to remain in your home, and may have to liquidate most of your assets. Talk to a bankruptcy attorney in your area for more information on declaring bankruptcy.
• List Your Home With A Realtor
• Depending on your property's condition and equity you may be able to sell your home to a retail buyer through a realtor, however this takes both time and money. A realtor's commission is typically 6% of the sales price, plus extra closing costs. This means that if you have less than 6% equity in your home you will actually have to pay money to sell your house! Additionally if your home is in less than perfect shape you may have to put more money into fixup in order to sell it to the type of buyers that realtors cater to. Also selling through a realtor takes time. Your house may sit on the market for 3 months or more waiting for offers that may or may not even close, all the while your penalties and fees from the bank are piling up!
• Let Us Buy Your Property
• One of the quickest, easiest, and cheapest methods to deal with your situation is to let us buy your property. We will make you an offer on your property regardless of its condition or equity. You will pay no fees, commissions, or closing costs, and we will close within days instead of weeks or months! Stop the bank from damaging your credit any further! Call us today at 708-362-1418 or fill out the form below for more information on how we can help.