Giving My House Back To The Bank In Philadelphia | Block Foreclosure

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“I’m behind in payments…will I be giving my house back to the bank in Philadelphia? & How to block foreclosure?”

Nobody wants to lose their home. But sometimes financial circumstances turn against you and those financial commitments become simply too much to manage.

If your situation progresses too far, you may be forced into the unfortunate situation of having to give your house back to the bank in Philadelphia Pennsylvania, leaving you temporarily without a place to stay. In addition, there may be long-term consequences, including a dramatic and long-lasting impact to your credit (and your ability to get a house in the future).

No one wants that. That’s not an ideal outcome. Fortunately, there is a strategy you can take today to help you proactively protect yourself and get back on track to financial solvency.

Here’s a brief overview of the foreclosure process

The foreclosure process can vary depending on location and the type of mortgage you have.

Usually, if you miss a few mortgage payments, your loan company will start sending you notifications and then warnings. Over time, if you fail to pay back the mortgage payments you missed, the loan company may put your home up for public auction.

How long you can stay in your house after it is sold in auction depends on the state where you live. At some point, however, you will need to find a new place to stay if you’re not able to block foreclosure

Fortunately, you have options!

If you wait until your home is foreclosed, it can have a devastating effect on your credit rating. One option to protect yourself is to work out an arrangement with the loan company called a “deed in lieu of foreclosure”.

This is when you hand over ownership of the house to the loan company so that they save the money they would spend on foreclosure proceedings, which can be significant. And you get to avoid having a foreclosure listed on your credit rating.

You can also block foreclosure by selling your house before it’s lost at the auction. If your loan is paid in full, then there will be no more penalties against you and your credit rating. (If your loan isn’t paid in full you will need to make up the shortfall).

Here’s an example: Let’s say you owed $100,000 on your home and you sold your home to us for $90,000. You would give that money to the loan company, along with $10,000 to make up the short-fall, and your loan would be paid off. (If you contact a real estate attorney, you may be able to negotiate a deed in lieu of foreclosure deal in which the loan company agrees not to go after the difference in exchange for the deed to the house.

At Buying Property 215, we’re professional investors providing a variety of real estate services. Contact us today at 215-359-6090 to find out what we can offer you for your house — even if it needs house repairs.

I want to avoid giving my house back to the bank in Philadelphia!

Why do people choose to sell their home instead of going through foreclosure? (After all, they still don’t live in their home anymore.)

Well, losing a home can be difficult but the impact on your financial situation and your credit is considerably less than if you simply wait out the foreclosure process. In fact, going through foreclosure could impact your credit score by as much as 100 to 150 points. So, the short-term challenge of selling property is still a better choice than the long-term pain of giving my house back to the bank!

Interested in learning more about a proactive option besides giving your house back to the bank in Philadelphia? Call us at 215-359-6090 or fill out the form to get more information

 

Sell Property Fast | Quick House Sale

If you’re a homeowner who has recently experienced financial difficulties which forced you to fall behind on your bills and mortgage. These issues can happen to any homeowner and the result can be losing your home to foreclosure. The positive news, homeowners can block foreclosure and completely avoid losing their property. If you’re a property owner receiving notices about a potential foreclosure process, it’s highly recommended to reach out to local cash home buyers to receive offers on a home sale. Most investors purchase property in its current condition regardless of the circumstances; real estate investors can provide a quick house sale, typically within twenty-one days. Utilizing an off-the-market sale, the title company works as a middle person to complete the real estate transaction while protecting the buyer and seller. It’s extremely simple to receive multiple cash offers, the main method to locate real estate investors will be to type “we buy houses Philadelphia” or “sell my house fast Philadelphia” into any online search engine including bing.com or google.com! These search engines check the entire world wide web for the most accurate search results, click on the first few results and submit your information. Request proof of funds to qualify the buyer, also it’s suggested to demand the buyer cover closing costs and transfer tax. There are many benefits to selling a home directly to an investor; quick house sale, no repairs or inspections required, no fees or agent commissions, the ability to avoid foreclosure, and the chance to sell a home independently! Reach out to our family-owned real estate company to see how we can provide a quick and easy home selling process while providing the highest cash offer guaranteed!

Step 1

Contact Us

We research the details of your home and start crafting an excellent offer for you.

Step 2

Get Your Offer

We present you with a fair cash offer without obligation and no fees.

Step 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.

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