There is nothing as devastating as having to go through a disappointment regarding property investment. All homeowners need to have some vital information, especially about circumstances that could rob them of their hard-earned property. One of them is foreclosure.
The worst part about foreclosure in Florida is that it ruins your credit standing for a long time. But the good news is that you can avoid it altogether.
The first thing to understand is the entire foreclosure process from beginning to end. The following post explains it, and will help you determine where you’re at in the process:
UNDERSTANDING THE FORECLOSURE PROCESS
Are you at risk of foreclosure?
If so, you, like thousands of others, probably have many questions.
What can I expect? What types of penalties am I up against? How long do I have until I must leave my home?
The foreclosure process can seem daunting. But in this article, we’ll detail everything you need to know about the process. Read more at USA TODAY Classifieds…
Having such crucial information at the right time could even prevent you from progressing further into the procedure, especially if you’re at the pre-foreclosure stage.
The next crucial question you need to answer is whether you should try to save your home or not. Amy Loftsgordon helps you to critically analyze your options in the following post:
Should I Try to Keep My Home or Let Foreclosure Happen?
If foreclosure looms because you’ve missed some mortgage payments—or you think you’ll fall behind soon—it’s time to face a difficult question: Should you try to keep your home or let foreclosure happen?
Apart from the emotional considerations that come up whenever a foreclosure is threatened, certain economic factors exist that you shouldn’t ignore. Before you can decide whether to try to keep your house, you need to evaluate your financial situation, which has no doubt changed since you bought your home.
Here are the three questions you’ll need to answer:
- Do you have equity in the home?
- Can you afford your monthly mortgage payments?
Can you reduce your debt load? Read more at Nolo…
Every decision you make needs to be strategic at the very least. Therefore, you need to ask yourself some key questions before you take any action, since it will have consequences.
If you decide to sell your home to avoid the impact of foreclosure on your credit ratings, the following post will give you vital information on how to go about it:
Selling a Foreclosed Home: What You Can Do (And What You Can’t)
Selling a foreclosed home is an option many homeowners who have defaulted on their loan don’t know much about. Foreclosure is a long and heartbreaking process for a homeowner. But, it’s not hopeless. When looking for a solution to defaulting on their mortgage payments, many owners float this question: “Can I sell my home if it is in foreclosure?” The short answer is yes.
Up until the home is sold at auction, you can rescue your home by selling it and paying the lender everything you owe, including back payments and penalties. And in some states, you are allowed a “statutory right of redemption.” This is essentially a take-back period after the foreclosure—from 30 days to as much as two years in some places —in which you can repurchase your home. Read more at Realtor…
A quick sale can prevent you from ending up with a damaged credit rating, and so you can protect your financial options for the future. This is especially important if you intend need to take on another investment project once you’re back on your feet.
If you need to sell your house in Hollywood, FL fast due to foreclosure, then the company to work with is Sell Fast Fair Offer. We are a real estate investment company that specializes in buying houses from homeowners who need to let their houses go.
Once you call us, we will give you a cash offer within 24 hours, after which you will get to choose the date of closing. You do not have to worry about commissions or seller’s fees, because we’ll take care of that.
Call us at (305) 590-8500 or visit our website for more information about us and what we do.