If the bank is threatening to take your property after all you have put into it, we can help you stop foreclosure of your house in Northern Kentucky! Keep reading to learn about what you can do to fight back! Dealing with the threat of foreclosure can be extremely overwhelming. The thought of losing your house after putting so much of yourself into it can feel devastating, and that’s not to mention the ugly marks it will leave on your credit. Nobody wants to deal with foreclosure, but luckily there are some things you can do to avoid it. In our latest post, we will help you learn how to stop foreclosure of your house in Northern Kentucky.
Call Your Bank
When it comes down to it, most lenders would rather work with you to get back on track than put the house into foreclosure. While the process isn’t fun for you, it isn’t fun for them either. It is costly and time-consuming, and in many cases, leaving the lender with a loss. They will do what they need to, to recoup their costs, including working with you to find a solution. When you first realize you are going to have trouble with the mortgage payment, reach out to your bank. If you are behind on your payments, you will likely be able to work out a repayment plan. If you think that paying your mortgage is going to be difficult going forward due to new circumstances in your life, you may want to stall the foreclosure and sell the house while you still can.
Sell Your House
A fast sale of your house can help you to quickly pay off your mortgage, without any negative marks on your credit. Listing your house in Northern Kentucky doesn’t necessarily guarantee your house will be sold quickly. Selling in this manner can take months, allowing the bank to foreclose on the house while it is listed.
On the other hand, a direct sale to We Buy NKY Houses will allow you to sell your house quickly and for a great price. Working with our team will let you choose the closing date that works best for you so that you can sell the house outright before the bank comes knocking. Our process is fast, convenient, and always fair!
Use A Short Sale
Another way to sell your house fast in Northern Kentucky to avoid foreclosure is by using a short sale. A short sale occurs when your lender agrees to take a lower offer for the house, just to save them the time and money of reselling it themselves. To do this you must apply to your lender’s short sale program and meet the necessary requirements. You’ll need to run a BPO or Broker Price Option, to help you determine the fair market value for the property.
When you declare bankruptcy, the bank will be forced to stop any collection activity against you, including the foreclosure of your home. That said, you will still be responsible for your debts. The bankruptcy court will work with you to set up a plan of repayment. Declaring bankruptcy doesn’t look very good when trying to borrow money in the future, so make sure it is the right choice for you before signing any paperwork.
No homeowner wants to have their house taken out from under them. If you are behind on your mortgage, don’t fret. There are ways to avoid foreclosure and sell your house before the bank begins the foreclosure proceedings against the property.
We Buy NKY Houses can stop foreclosure of your house in Northern Kentucky! Reach out to us today to find out more! (859) 412-1940
Are you failing to make your mortgage payment and you know foreclosure is near to occur? Are you now desperate to seek and help and questions like: What are some legal ways to avoid a foreclosure? How can I stop foreclosure in KY? Who can help me avoid foreclosure? How can I stop foreclosure quickly? What you need to do is start by knowing the ways to avoid foreclosure.
Once foreclosure takes place, you and your family will be forced to move out of your home. And if the worth of your property is less than the amount you owe on your mortgage loan then a deficiency judgment could be pursued. If that would be the case then you not only lose your home, you would also owe your lender an additional amount. This would affect your ability to qualify for credit in the future.
Why worry another day? We Buy NKY Houses is here to help you solve your problems and stop foreclosure of your house. Are you ready to end your sleepless nights worrying about your property? Contact We Buy NKY Houses today for a no-obligation consultation at (859) 412-1940. When you call our hotline, you’ll be connected with our real estate expert who will listen to the specifics of your situation before making recommendations and answering any questions you have.