How To Stop Foreclosure At The Last Minute in San Antonio
Are you approaching foreclosure? Your mortgage lender is threatening to seize your home in a few short weeks? You’re not alone. It’s a struggle many Americans and many Texans face. There are no easy ways out, but we at ShapeUp Homes have stopped foreclosures for several homeowners over the years, so we’ve learned some lessons we can pass on to you.
There’s a lot of great advice out there about foreclosure, so we recommend you do your research carefully and consider your options. No two situations are exactly alike. For instance, a loan modification may be the perfect solution for one struggling homeowner, but for another it would mean piling on even more debt to delay the inevitable. You may also hear a lot of advice out there concerning bankruptcy or filing a lawsuit, and we just urge you to be very cautious when considering those options. Taking that into consideration, we’re going to lay out the method we provide to those who come to us. Be warned that you may not like the advice you’re about to hear, but it might be your best option. The way we prevent foreclosure at the last minute is simple: we buy your house.
Yes, this means you will still lose your house, but at least your credit won’t plummet as the result of a foreclosure or bankruptcy. This way, you won’t be underwater any longer and you’ll have cash in hand to recoup your losses and work toward buying a home that you can afford. Each situation is a little bit different, but here’s the path we recommend for halting foreclosure:
- Find a reputable home buyer with experience in negotiating with lenders and authorize them to negotiate on your behalf.
- The investor negotiates with the lender while at the same getting ready to buy your home.
- Once a once we get title ready and the lender agrees to release, you sign the closing documents, get your payment and breath a sigh of relief.
“Why can’t I just take this advice and negotiate with the lender myself?”
The reason we don’t recommend doing that is because your lender is not motivated by your story. They are motivated by money and recovering their investment. You would need proof of funds to have leverage and our company happens to have that proof. Most lenders are actually ecstatic to work for us. You see, banks are not in the real estate business. For them to foreclose a property, they have to winterize the property, they have to lock it down, hire inspectors, put it back on the market, and clean it, and hire lawyers. It can take as much as $30,000 to foreclose on a property, so most banks are happy to work with us. It’s easier for them to get the money they’re due than it is to sell the property again. They’re in the business of making profit on interest through financial services, and selling houses is just a speed bump the bank would rather avoid.
We hope this advice was helpful, but keep in mind too: not all home buyers and home buying companies companies are going to be like ShapeUp Homes. We do not say that brag, it’s just that many companies in our business don’t have the tools or the resources to do what we do. They simply buy and sell houses, but we offer you a service. When you’re working with a company with a unique combination of available cash and negotiation experience that make us a powerful ally if you need help beating the bank.
Our final piece of advice is don’t stay in a house that’s too expensive for you. Live within your means. If you’re facing foreclosure, be wary of predatory loan modifications that sound like the perfect solution, and never take bankruptcy advice from someone who isn’t a lawyer. If you’re really underwater, take this opportunity to work with someone like us so you can downsize and bring your financial house back in order. We want to help, but we can’t do that until you call 210-441-4233. No problem is too big, we’ve seen it all and are happy to help!