Many homeowners go through foreclosure for reasons that are beyond their control. Once you start getting behind on mortgage payments, it becomes tougher and tougher to get out of the hole. This might be because of medical reasons, loss of job, increased unavoidable expenses, or other situations that cause your debt to go out of control.
Foreclosure is incredibly taxing and stressful on a homeowner. One of the biggest mistakes that homeowners can make is to contract under a real estate agent when the home is not ready to be sold and they’re under a tight deadline. In some states, foreclosure can occur within a month, while others have longer grace periods. In either situation, it’s important to know what your options are, and we find that we’re often the way out for many homeowners.
While foreclosure can leave you without your home or any money to account for the equity you put into it, allowing us to purchase it will prevent the home from going to auction, destroying your credit, and will let you put some cash in your pocket so that you don’t lose the home outright.