HOW TO STOP FORECLOSURE

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HOW TO STOP FORECLOSURE

• Danny Buys Houses is a Local House Buying Company
  in Oklahoma City OKC. We purchase your house in
  any condition for cash without any hassle as
  quickly as possible.
• No Fees. No Commissions. Put More Cash In Your
  Pocket.
• www.dannybuyshousesokc.com

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Reasons For A Pending Foreclosure

• Most homeowners face sudden extenuating
  circumstances that force them to stop making
  timely mortgage payments. Here are a few reasons
• Job loss / unexpected unemployment
• Sudden illness or medical emergency
• Divorce / loss of a second income
• Excessive debt obligations
• Job demotion or promotion denials
• Inability to pay an adjustable interest rate that
  increases
• Unexpected major home maintenance expense
• But you can STOP the FORECLOSURE.

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1. Bankruptcy

• Bankruptcy stops foreclosure dead in its
  tracks. Once you file a bankruptcy petition,
  federal law prohibits any debt collectors,
  including your mortgage lender, from continuing
  collection activities. Foreclosure is considered
  a collection activity, and so the day your lender
  becomes aware that you have filed for bankruptcy,
  the foreclosure process will effectively be
  frozen. But heres the rub once you get to
  court, the bankruptcy trustees role is simply to
  play referee or mediator between you and your
  creditors. Bankruptcy really just buys you more
  time to replace your lost job or recover
  financially from a temporary disability it
  doesnt let you off the hook for your debts. The
  law requires your mortgage company and other
  creditors to work in good faith with you to
  formulate a reasonable repayment plan so you can
  get back on track. Consult with a bankruptcy
  attorney regarding whether filing for bankruptcy
  is a good strategy for you.

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2. Deed In Lieu

• A deed in lieu of foreclosure is exactly what
  it sounds like. The homeowner facing foreclosure
  signs the deed to the home back over to the bank
  -- voluntarily. This sounds like it would be a
  great option, but actually has the same impact on
  a homeowners credit that foreclosure does.
  Lenders are very reluctant to agree to take a
  home back through a deed in lieu of foreclosure
  for a number of reasons They fear the homeowner
  will sue later alleging they didnt understand
  what was happening, the lender must pay any
  second or third mortgages or home equity lines of
  credit (HELOCs) off before executing a deed in
  lieu, and the lender wants to be certain that the
  borrowers financial distress is real. Allowing
  the foreclosure process to proceed is one way the
  lender can be sure the borrower is not faking
  poverty.

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3. Sell Your Home

• This may be another best option to stop your
  foreclosure. Along with your delay tactics you
  may ask can I sell my house to avoid disclosure.
  The answer very well may be yes. However, this is
  something that you will want to do quickly.
  Otherwise the lender is going to lose patience.
  The question can I sell my house to avoid
  disclosure means looking at your options for
  house selling. This includes selling it yourself,
  selling it through a realtor or a cash sale. You
  have the ability to approach a cash buyer for
  your home. There are some pros and cons to this.
  In the right circumstances this can be the best
  solution for a stop my foreclosure situation.

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Why A Cash Sale Of Your House Is The Best Option?

• Cash buyers are usually real estate
  investors. They specialize in purchasing homes
  where the seller wants or needs to sell quickly.
  A cash buyer has the ability to give you full
  cash for the purchase of your home. This means no
  waiting for financial approval for the buyer. The
  transaction moves quickly and will satisfy your
  lender. You dont have the legal fees that come
  with a traditional sale. There is no waiting for
  the right buyer to come along. You dont have to
  worry about doing any repairs to the home to make
  it sellable. You are far more likely to come out
  with some extra cash from the sale to a cash
  buyer. This will depend on your personal
  circumstances. At the very least you may be able
  to salvage your credit rating.

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Contact Danny Buys Houses

• 3415 N Maxwell Dr
• Oklahoma City,
• OK 73121
• Phone [phone]
• Email danny_at_dannynichols.com
• Facebook Danny-Buy-Houses-OKC

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