Facing foreclosure? We can buy your house fast!
If you own a property facing foreclosure, we have the ability to make you a cash offer and close quickly—usually within two to five days. There are no fees, no commissions and no future obligations to us in any way; just peace of mind that your problems are behind you.
After we see your property, we’ll make you an offer right away, then handle all the paperwork and arrangements from there. No fees! No headaches! No hassles! No open houses!
Our past clients will tell you that we solved their problems fairly, honestly, and with dignity, and we’ll absolutely do the same for you.
To get started, call (307) 632-8222, or tell us about your property using the form below.
Alternative options to explore
Not sure if selling your house is the right option for you? We’d be happy to talk through any (or all) of these alternative options with you.
As with any serious legal situation, you are encouraged to consult legal counsel regarding any points of law. This information should not be used as a substitute for competent legal advice.
Option 1: Loan Forbearance or Modification
Note: A loan forbearance or loan modification is easier to arrange prior to the mortgage company filing a foreclosure. Some lenders will not consider these options after filing, but it’s worth trying.
In a loan forbearance, the loss mitigation department of your mortgage company may make arrangements with you to pay some of the back payments now, and the balance within a certain time period. A typical example: You owe $9,000 in back payments, attorneys’ fees, etc. Your mortgage company may accept $4,500 now, and $750 per month for the next 6 months. Of course, you would have to resume making your normal monthly payments, as well.
In a loan modification, you make a permanent change to your mortgage that may lower your payments, and the delinquent payments may be added to the mortgage balance.
Option 2: Reinstate Your Mortgage
You have up to and including the morning of the auction to catch up your payments. Perhaps you could borrow from friends or family, credit cards or a retirement program. You may also be able to arrange a second mortgage to catch up the back payments and fees. (Check in the Yellow Pages under “Mortgages.”)
Option 3: Refinance
Arranging new financing will depend on your income, credit report, value of your home and the amount of your equity. If you attempt to refinance, you should always have a backup plan available. Many times, we’ve had homeowners call days before the auction saying their financing did not go through, and by then, it’s too late.
Option 4: Chapter 13 Bankruptcy
Bankruptcy is considered an action of last resort, but a viable alternative if your financial situation has improved. Filing bankruptcy prior to the auction will sometimes stop the sale. Unfortunately, for most people, it only postpones the sale for 1 or 2 months.
Immediately after filing a Chapter 13 Bankruptcy, you will have to file a repayment plan with the courts. This plan has to show that you have sufficient monthly income to pay basic living expenses, such as food and utilities, as well as other monthly payments such as credit cards, car payments, etc. In addition, your income must be sufficient to resume making your monthly mortgage payments. All past due amounts are usually spread out between 24 and 60 months. For example, if you owe $9,000 in missed payments, attorneys fees, etc., spreading out this payment for 48 months would be an additional $187.50 due to the court-appointed trustee each month. If you feel as though you have the income to immediately begin repayment of all your debts, and the courts agree, this may be a good choice for you to save your home.
Please note: Many individuals who file for bankruptcy protection have their cases dismissed. Not only are they out their attorney’s fees (usually $1,000 – $2,000) but they also now have a bankruptcy and foreclosure on their credit report.
Option 5: Sell Your Home on the Open Market
The fact is, selling your home will give you the most money in your pocket. The market is very active, and we have all experienced significant appreciation in the past few years. Your home may even be worth a lot more than you think! If you’re not sure of the value of your home, give us a call. Usually, we can give you a fairly accurate estimate of value within 30 minutes, and of course, there is no obligation. We’re just here to help!
