In 2021, almost 93,000 homes in the U.S. faced foreclosure, according to ATTOM. Not only is foreclosure an extremely stressful event, but it also has a lasting negative impact on your credit history and limits your ability to qualify for credit for several years after.
If you’re at risk of foreclosure, there is something you can do right now to avoid it.
Once you’re several months late on your mortgage payments – more than 120 days under federal laws – your lender may begin the foreclosure process. To stop foreclosure, you may sell your home to pay off your lender.
Lenders typically sell foreclosed homes at auction to recoup their money. How long the process takes depends on which state you are in. It’s best to sell before the process starts but you may be able to sell your home to stop the foreclosure right up to the date of the auction. Check the laws in your state.
When you’re ready to sell, your first instinct may be to call a real estate agent, but there is another option you may not be aware of. Selling your home as-is for cash is a great way to avoid the stressful foreclosure process because there is no need to invest in repairs or upgrades, and you can often close faster than using a realtor.
It takes between 55 and 77 days to sell your home the traditional way, which may be too long if you’re facing foreclosure. And there is always the risk of the deal falling through before closing.
With an as-is sale you don’t have to worry about any of that.
Give us a call and one of our home specialists will ask you a few questions about your home, its condition and age. Once we have the necessary information about your property, we’ll make an offer. There are no obligations.
With the amount you earn from the sale, you may be able to pay off your mortgage, avoid foreclosure, and save your credit. And save yourself a lot of stress and anxiety.
We’re here for you, really.
Get in touch today to start the process of selling your home as-is, or call us at 833-4-REALLY.
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