Pre-foreclosure? Time To Get Busy!

When it comes to pre-foreclosure there is one thing that is always true. You know when you are going to have a problem before anyone else. No one knows like you do when your problems begin, when they are at their worst, and what it takes to make them go away.

There is no reason to wait for a Notice Of Default from your lender to recognize that you have a major problem. Following is a list of resources that provide common sense, and reputable suggestions for dealing with problems like difficulty making your mortgage payment.

Tips for Avoiding Foreclosure

Preforeclosure help

The housing slow down we are experiencing is the result of too many people being less than truthful about everything including their income and ability to pay their bills. Sometimes we learn too late that "the wanting of a home" is less difficult than actually "having the home". If you suddenly realize that your home purchase just won't work make a decision to fix the problem. "If it don't fit don't force it, just relax and let it go". You will be much happier must faster than you can imagine.

If it is possible to keep your home, there are lots of ways to make that happen. Before you can decide what will work best for you, the most important thing is to determine what the best solution for you will be. Once that decision is made you can contact us to discuss your situation.

Just complete a Seller-Profile and we will be in touch to discuss your alternatives. Please, don't wait until the clock is ticking and time becomes your enemy. Contact us as soon as possible.

Solutions we may offer include:

Property Buy Discount
Terms Purchase for Debt Relief
An Assisted Sale (Subject to qualification)

In the meantime, here is an example of how homeowners with equity were able to solve their unexpected pre-foreclosure problem.

Paying two mortgages is no fun. For most of us one mortgage payment is a big enough challenge. The more payments you make, the more motivated you become to just get rid of the “problem mortgage”.

This Cash Creation strategy, called the "Cash Relief" strategy, can save you time and make you money. The first thing you do is take control of the situation.

Strengthen your position and increase the number of candidates available to purchase your house by offering your property with seller financing.

By doing that you create a larger market of buyers. Many of these buyers can’t get financing from anyone but home sellers like you. By using our "Cash Relief" Cash Creation strategy you make it easier for you and the buyer to get the deal closed.

In this example the sellers had bought a new home. They were unable to delay the close on the new home until the old home was sold, and it created a financial burden after four months they hadn't counted on. Of course that was two mortgage payments.

The down turn in the market created a glut of homes. Conventional lenders were much more difficult to work with than before, because borrowers found it much more difficult to qualify for a mortgage.

The property sellers needed:

To solve their pre-foreclosure problem

A buyer that they could qualify to buy their property

A buyer with an acceptable down payment (10%-20%)

$60,000 in cash

A buyer that could afford the monthly payments with no problem

A buyer with a decent credit profile

The buyer has been on the job for less than two years, so they could not qualify with a conventional mortgage lender. As long as the buyer can make the payments and has an acceptable down payment, and credit profile, his time on the job is not a problem for you.

The buyers needed:

Someone to finance the purchase of their new home

A seller that would accept their 10% down payment

A seller that would provide some flexibility with their mortgage structure and options

Here is the deal we put together for this couple in pre-foreclosure.
The property was sold for $225,000 with 10% down. We created the balance of the funds needed with the brilliance of "cash creation".

Here is a summary of the deal.

The sale price of your property will be $225,000.00.

You will receive $22,500.00 from the property buyer as the down payment when escrow closes.

You will receive $37,500.00 from the sale part of the note when escrow closes.

The total cash you will receive immediately is $60,000.00.

You will receive 60 payments of $1,485.87 for a total of $89,152.20.

You will then receive the note back with a balance due of $108,605.96.

The total you will receive for your $225,000 property is $257,758.16.

As you can see, the pre-foreclosure sellers and the buyers got exactly what they wanted and needed. The real estate agent got a nice commission and my company was compensated for putting the deal together.

This is only one example of a debt relief solution. We can do something similar for you or someone you may know. Just submit a Seller-Profile for a preliminary needs assessment.

If you are a buyer that has been turned down by conventional lenders, but you have down payment money and the ability to pay a new mortgage, just complete a buyer-profile and submit it as soon as possible.

Consider this if you are in pre-foreclosure. Our E-Book,"How To Sell Your House FAST In Good Or Bad Markets" gives you very special insights into the world of promissory notes and the Time Value Of Money. It's priced at only $14.95 for a limited time. Be sure to add a copy to your home library. It is available in an easy download. You can order at the link above.

NO BANKS NEEDED WHEN YOU SELL OR BUY!!

This is only one example of a pre-foreclosure property solution. Every transaction is different. Just complete our Seller-Profile to find your solution.