As a real estate investor or landlord, there may be times when it’s hard to pay the mortgage on your end as well. Here are some things you can do to avoid mortgage payment problems each month.
1) Keep your properties full.
2) Do your best to find quality tenants.
3) Look for longterm tenants.
4) Keep the property well maintained.
To get more detailed information, please visit the full blog post version.
Working with banks during the foreclosure process.
Always over-communicate with the bank (but don’t be annoying). Call with updates and show them what you’re doing to get your property sold.
Don’t miss deadlines. If anything will be late, call with advance notice.
Remember that bankers are people too. Don’t be overly dramatic, but explaining your situation and demonstrating your willingness to fix the problems to make it right goes a long way.
Start keeping careful records of every conversation you have with the bank. Nothing counts unless it is in writing. Make sure to keep track of each person you speak with, what they said, and any promises made.
Explore all your options, including short sale, loan modifications, and bankruptcy. Depending on the details of your personal situation, you may be able to dramatically slow down the foreclosure process with enough effort. Each bank has its own policies to help borrowers avoid foreclosure.
Don’t wait. Unfortunately, time is not on your side. The further behind you become on payments, the fewer options are available to you.
So if you’re asking yourself can I sell my house before foreclosure and want to sell it fast, call us now.
To get more detailed information, please visit the full blog post version.
Foreclosure is the legal process that lenders use to take back property securing a loan, generally, after the borrower stops making payments. Foreclosure is no fun. But just know that it’s not the end of the world.
There are a few stages that are important to any foreclosure process. Foreclosure works differently in different states around the country. The two ways different states use to foreclose upon a property are judicial sale or power of sale.
In either scenario, foreclosure typically doesn’t go to court until 3-6 months of missed payments have elapsed. Usually (but not always), a lender will send out many notices that you are in arrears – overdue or behind in your payment.
To get more detailed information, please visit the full blog post version.
This can be a stressful situation, but it’s extremely important to keep your wits about you. A foreclosure will have a huge negative impact on your credit score, and likely prevent you from purchasing a home for years. While it’s extremely stressful, you do have options:
• Negotiate with your mortgage lender.- Banks and other financial institutions are well aware that citizens of Boise are struggling.
• Ask for help from Uncle Sam.- Over the last five years, the federal government has implemented a number of programs to help struggling homeowners.
To get more detailed information, please visit the full blog post version.
When a homeowner misses 3-6 months of mortgage payments, the lending institution will issue a warning, notifying the homeowner to pay or lose their home. This period is known as “pre-foreclosure.”
Banks and mortgage lenders typically provide three months for the homeowner to become current. Of course, this number can vary by bank and situation sometimes.
If a homeowner fails to make the necessary payments, the bank will foreclose on the home, assuming ownership, and evict the homeowner. Thankfully, during this stage of the foreclosure process, a mortgage holder has the opportunity to take advantage of several options to prevent losing their home.
To get more detailed information, please visit the full blog post version.
When you fall behind in your mortgage payments on your Boise home, it can feel like you’re drowning in debt. Even if you’re able to make your monthly payment, catching up on a past due balance can be an overwhelming challenge.
There are a few options that can help you to avoid foreclosure in Boise and maybe even keep your house, even if you’re seriously behind in payments. Lots of properties in Boise have been lost to foreclosure, but there are many ways to avoid it.
• Bankruptcy
• Reaffirm
• Making Home Affordable (MFA)
• Negotiate with your bank
• Borrow money from a private investor
To get more detailed information, please visit the full blog post version.
If you’re facing the possibility of foreclosure in the future, perhaps you are wondering can you get your house back after foreclosure in Boise. After all, you need a place to live in!
Unfortunately, after the court rules in favor of your lender and agrees with the lender to proceed with foreclosure, it is very hard for you to get your house back.
The good news is, if you’re not in foreclosure yet, you have options. The first and best option is to pay off your mortgage or work out a payment plan with your lender. They’ll prefer to keep you in your house and instead just collect the money owed to them.
If that’s not an option for you at this time then you may decide to do what a lot of homeowners facing foreclosure are choosing to do: Sell your home before the home is foreclosed upon and pay the lender what is owed to them.
To get more detailed information, please visit the full blog post version.
Foreclosure is a nightmare to any family going through it irrespective of the reasons why they are about to lose their home. Today we are going to look at the foreclosures effects in Boise, Idaho and what local house sellers need to know. First, we will look at the effects and ways of easing them.
• Loss of your home
• Decrease in Your Credit Rating
• Depression and Stress
• House Values In Your Community
To get more detailed information, please visit the full blog post version.
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 Boise-Idaho, leaving you temporarily without a place to stay. In addition, there may be long-term consequences, including a dramatic and long-lasting impact on 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.
To get more detailed information, please visit the full blog post version.
Few things are more devastating to families than the prospect of foreclosure. You own your home and you love it — it serves you well. Yet, due to unfortunate circumstances, foreclosure may seem imminent.
In this blog post, you’ll read about 3 ways that you can avoid foreclosure (there are other ways to avoid foreclosure as well).
• Strategy #1: Work out a deal with your lender
• Strategy #2. Bankruptcy
• Strategy #3. Short sale help for a foreclosure in Boise
To get more detailed information, please visit the full blog post version.
