3 Ways to AVOID Foreclosure In Eugene

3 Ways to AVOID Foreclosure

Are you facing foreclosure, or do you know somebody who potentially might be facing foreclosure?

Foreclosure is a horrible thing and the financial impact is usually unexpected, like death, divorce, or loss of job. Those are all situations that put people into foreclosure, and it’s unfortunate because a lot of time it just happens to really good people who don’t necessarily want to be put in this situation, but they’re forced into this situation due to their circumstances, which is always really rough.

Why Avoid Foreclosure?

So why would you want to avoid foreclosure in the first place? Why not just let your home go, and let the bank deal with it? The main reason is the limitations when you want to buy again. Basically, you can’t get a loan on another house until you’ve waited out certain time frames. And with a conventional loan, that timeframe is seven years. With an FHA loan, that time frame is three years. And if you short-sell your house out, that time frame is two years.

Top Three Ways to Avoid Foreclosure

#1: Very obvious. If you have just received a notice of default, or you know that you’re past due on your mortgage, and you haven’t been making your payments, getting your home listed on the retail market as fast as possible is the most important thing to do. If you can get your home listed, and you have probably more than 90 days before the foreclosure might take place, you typically can get your home sold, and be out of your home with only the past due payments affecting your credit. That’s much better than a whole foreclosure affecting your credit. So, by getting a retail sale handled, and getting it taken care of, it’s probably the best way for you to even capture that extra equity that you have left in your property because a lot of people don’t even realize the equity they potentially have, even if they are facing foreclosure. That will allow you to pay off that back due on the property and potentially walk away with some money in your pocket. That way you can get into a rental property, or another property down the road.

#2: Say you don’t have any equity in your home. That would be a situation where you would want to take step number two, which is get listed on the market as a short sale. Now, if you can work with somebody who is really good at short sales, and they can process you through on the short sale side of things, then you can really do a great job by limiting the effect of that foreclosure. Grand Real Estate Investments offers a short sale service, where we’ll come in, buy your home, and work the short sale all the way through to the end, where we end up purchasing it. We do both sides of real estate and we’re able to provide a unique opportunity where we can just go in, put it on the market and take it down immediately with our purchase, and then we start working on the short sale.

The upside is it can totally eliminate that foreclosure from your record.

#3: The third way you can avoid foreclosure is to just sell it to an investor. Say you have equity in your home, but you’re under a tight timeframe. Say you have less than 90 days, and you need to get your home sold because you’ve got this looming foreclosure date coming up. Now, you don’t have enough time to get it sold on the market. You got enough equity and you don’t want to sell it as a short sale. But you just need a cash buyer to come in and take that property from you, and then alleviate the stress of having the foreclosure. The great thing with cash buyers is they can even take care of that default amount. Another great thing about selling to an investor is they’ll pay for all the closing costs. They won’t have any real estate fees, too.

And, again, that’s another great thing that Grand Real Estate Investment offers as a real estate investment company. We can give you the cash sale price on your home.

We Are Here to Help During Your Time of Need

So if you were to work with us on getting your home sold because you’re in foreclosure, we can focus on the retail sale. If we don’t have enough time for that, we can focus on a short sale if you don’t have enough equity. And if that doesn’t work out, you can sell it to us for cash, and we’ll completely take care of the process from A to Z.

So if you’re facing foreclosure today, and you’re in Lane County, give us a call immediately. If you’re past due one payment at all, please give us a call, so that way we can help you out, and help you get out of the horrible situation of foreclosure. Help alleviate the stress of foreclosure, and help limit the impact of foreclosure on your credit, as well as in your life.

Just go ahead and fill out the form below or, give us a call at 541 249-5990. And remember, if you’re past due on payments or facing foreclosure, timing is of the essence.

Robert Grand

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