Want To Keep Your Home?
We May Be Able To Help.
Keeping your home during a foreclosure is possible. Here’s how…
Not all foreclosures have to end in the homeowner losing their home. Most homeowners going through foreclosure don’t know all of their options, and it’s not your fault. In some cases you may be able to stop foreclosure, or if you’re not quite in foreclosure but heading there… we may be able to help you avoid foreclosure.
There is a lot of mis-information out there about foreclosure and the foreclosure process. And frankly, new regulations from the government seem to come out every few months.
After a foreclosure is complete, the loan amount is paid off with the sale proceeds.
Sometimes, if the sale of the property at auction isn’t enough to pay off the loan, a deficiency judgment can be issued against the borrower.
A deficiency judgment is where the bank gets a judgment against you, the borrower, for the remaining funds owed to the bank on the loan amount after the foreclosure sale.
Some states limit the amount owed in a deficiency judgment to the fair value of the property at the time of sale, while other states will allow the full loan amount to be assessed against the borrower.
Here’s a great resource that lists the state by state deficiency judgment laws, since every state is different.
Generally, it’s best to avoid a foreclosure auction. Instead, call up the bank, or work with a reputable real estate firm like us at 1-844-Exit-As-Is to help you negotiate discounts off the amount owed to avoid having to carry out a foreclosure.
But, there are options that could help you stay in your home if your situation qualifies.
Fill out the quick form below and we’ll set up a Foreclosure Prevention Counseling Session with you and one of our foreclosure experts. The session is free. We’ll find out about your specific situation, give you some education to help you better navigate the foreclosure process successfully, and lay out your options so you can make a well informed decision.