Sell Your House Before it Reaches the Default List

We Buy Houses Cash - Mifflin County PA: The lenders and banks have a list of homes that have defaulted, or become close to doing so, where their mortgage payments are concerned. These lists are looked at with regularity by people who buy foreclosures and distressed property from the lenders. It’s known as REO property.

If you would like to sell your house before it reaches that point, you can do so. In fact, it’s probably a very good idea if you are certain that you will not be able to keep the house. If you can’t make the payments, are several behind already, and see no hope in the future of a change in your financial circumstances for the better, you might be wise to sell. A defaulted mortgage, a foreclosure, repossession, or short sales are all negative entries to your credit.

You will need your credit in the future as you attempt to rebuild your financial life. With your credit completely ruined it will be hard to do many things. It’s not just making purchases and obtaining credit cards that count on your credit anymore. Everything from renting an apartment to getting a good job can count on your credit history. Preserve it wherever and however you can.If that means selling your house before the lender determines that you can’t pay and sets a foreclosure in motion, do what you can to get the house sold and pay them off. You’ll end up losing your house, of course, but it will be your choice to sell it, rather than the bank coming to evict you.

Begin emotionally detaching yourself from your house. Refer to it as a house instead of your home. That’s a good first step. Then find out what the current market value is. Between that and what you owe on the mortgage, you should come up with a pretty good idea of what you will take for the house as the lowest possible amount.It will have to be sold quickly, and today’s real estate market is moving exceedingly slowly.

Buyers aren’t numerous and those that are interested are often turned down by lenders for the mortgage loan. Try a real estate investor.They routinely buy houses from those in distress for around 75% of their current market values. They also pay cash most of the time and will help you to get your lender paid off and all the paperwork filed. You won’t have to fix the house and it will be sold and closed in about a week.

 
CreativeRealEstateNow.com is a Real Estate Investor that buys houses and helps prevent foreclosure in the following counties of Pennsylvania: Northumberland | Union | Columbia | Montour | Juniata | Perry | Dauphin | Snyder | Mifflin | Centre | Lycoming.

If you have a home that you need to sell, contact us to see how we can buy your house in 7 days or less and close when you want! We buy houses in Rural Pennsylvania!