Avoid Foreclosure

There are a few options you can do to try and avoid the foreclosure process and several things you can do to delay it too. Your only assurance in permanently stopping a foreclosure is to pay what is owed.

If you are not able to get caught up and stay current with your mortgage payments then your lender has the right to take your property and sell it at a public auction. Some people do not realize they already agreed to pay on time or forfeit their property in the original mortgage documents when the loan was first made.

If you are having trouble making your payments, do not ignore the situation. It is best to contact your lender, tell them about your situation and work out some arrangement. They are required by law and likely by their internal policy to make attempts to contact you when payments become irregular. Most lenders are more interested in receiving the payments and resort to taking the collateral (your property) only as a last resort.

If your situation is temporary, just call and make temporary arrangements like:

  • Reduction or Suspension Plan to work out a temporary payment plan with your lender
  • Refinance if your property has equity and your credit and income are stable
  • Loan Modification may work if the mortgage principle is more than the property is worth

If you simply cannot afford to keep your home here are a couple of ways to make your departure less painful than a foreclosure:

  • Short Sale prior to the auction date, selling your house for less than you owe
  • Deed-in-Lieu and voluntarily give your house back to your lender

The worst possible outcome for borrowers in financial trouble is to simply do nothing and allow your lender to take your house in a foreclosure process and sell it on the open market in a public auction. Foreclosure will remain on your credit for 7 years, likely preventing you from returning to homeownership until then.

Why not consider selling your house to us?

  • Remain in control of your situation, leave with dignity, on your terms
  • Get your equity out
  • No need to make repairs
  • We pay fair market prices
  • We pay cash and can close quickly, in a few days if required to beat the auction
  • Call now to hear what our no-obligation offer would be for your house

About Us

Elegant Property Buyers, Inc.

We are a professional real estate development company buying, rehabbing and selling property all over the USA. Now you can benefit from our decades of experience.

Elegant Property Buyers, Inc.
25 Crescent Drive A-220
Pleasant Hill, CA 94523 USA
415.516.7478 Office