Sunday, February 24, 2013

Homeowner’s Options When Facing Foreclosure

To a home owner, facing a foreclosure can be very devastating. However, you still have options before foreclosure really happens and you might still be able to save your home or at least your credit record. The following are some of the options that a homeowner can go for to avoid foreclosure:

Ask for financial assistance and make your loan current. Perhaps this is the most straightforward but may not be the easiest path. If you are failing in your monthly dues, call your bank immediately and work out a deal. If you can, make up with your back payments by adding it to your monthly dues. If you can’t, ask for financial assistance from your family and friends. They may be able to loan you any amount without pressuring you to pay up immediately. You can also try consumer lenders but you have to make sure that you know the terms and conditions; else, you will end up having more problems than you have before.

If you can’t keep your home by using other countermeasures, you can still avoid foreclosure by selling it. There are many ways to sell a home and you should review each option before you choose one. The key is not just selling your home but to sell it immediately, before foreclosure happens. These options include selling the house yourself; hand over the deed to your lender, use a realtor, auction your house, or sell it to private investors. Each option has its advantages but if you want quick and easy sale, your best option is selling your home to private investors. Private investors, like Lucas Properties, do not wait for bank approval so you can be assured that you will have a closed deal in just a few days. They also pay you with cash, so what more can you ask for. Get in touch with Lucas Properties and save your credit record.

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