Foreclosure: What to Do When It Comes Knocking?

by Sep 7, 2020

A step by step guide to avoiding the street

It may seem like a rather bleak title to give an article, but there are a few things we need to speak about, quite frankly. 

If you are like most people in the world, then your finances are a concern at the moment. With everything that has happened, how can you not be a little worried about your financial future? Unemployment is at a high, and people are losing their jobs, and they are losing their homes. If you are worried about your home or what might happen to it, then please, take a breath, and keep reading. 

This article will serve as a guide for anyone afraid that their house might be repossessed. At times like these, it is understandable that you might miss a few payments, but the system can be unforgiving. Once a Notice of Default (NOD) has been filed, things can begin to be unpleasant. 

Foreclosure means that the investor or lender that gave you the loan to buy the house (usually a bank) will legally be allowed to evict you, and then sell the house to pay off that loan. Ouch!

How to Survive Foreclosure 

Make sure that you keep trying to sell your house, even if you receive notice of imminent foreclosure. The reason is something called a short sale. This sale is where you (the seller) find a buyer after the NOD is filed, but preceding an auction organized by the lender. Sometimes the bank will prefer to go with your option instead of spending the time and resources to find a proper buyer. There are other ways of avoiding foreclosure and if you would like a more detailed explanation, check out HGTV.com 

Let us focus on the short sale for a moment. 

If you want to sell your house quickly and for cash, then you need to visit Mr. G Buys and obtain a full explanation of how to sell your home by yourself. There are many understandable reasons why someone might be falling behind in today’s unmerciful conditions. It is not your fault you are struggling. 

But you have a choice. You can make it far worse for yourself and blindly hand it over to someone else to sell (and make a profit from), or you can sit down and learn how to do it yourself. There are many financial benefits to selling your home without a realtor.  

Realtors’ fees are paid by the seller of the property and not by the buyer (as many people think). Often it is those “extra” costs that can add to making a big difference. By going through a listing agent and using a realtor, you will be racking up the fees on something you could be doing yourself. It is effortless. 

You will not have to do your house up for show days: no fixing bathrooms or painting kitchens. Mr. G Buys has you covered and will make the selling of your home, an easy process.  With a few clicks, you can be the master of the market and get the price you want and deserve!