Do you own a house in Alexandria and are going through pre-foreclosure? If you’re trying to avoid foreclosure in Alexandria dealing with the banks and the IRS can be difficult. Before dealing with the difficulties of foreclosure, check out working with a cash house buyer in Alexandria VA such as The House Guys who can help alleviate you of your situation. Check out our latest post to learn more!
The Keys of How To Avoid Foreclosure in Alexandria
While the housing market is rebounding, many people in Alexandria Virginia are still struggling to make their mortgage payments. If you’re underwater on your home, or having trouble keeping up with your monthly mortgage payments, you could be fearful that your mortgage provider is going to foreclose. Thankfully, there are a number of things that you can do to avoid foreclosure in Alexandria. It’s important to remember that moving quickly is absolutely paramount, and could save your credit rating and your home.
So let’s dive in on a couple quick tips on possibly how to avoid foreclosure in Alexandria with your home.
Don’t Abandon Ship
Many people simply give up and walk away from their home. There are even areas of Alexandria have begun to resemble ghost towns, as the economy has impacted residents significantly.
Detroit is a prime example of what can happen when people abandon their homes.
This can be stressful situation, but it’s extremely important to keep your wits about you. A foreclosure will have a huge negative impact on your credit score, and likely prevent you from purchasing a home for years to come. If you sell your home, you could leave a portion of the loan unpaid, and the lender could pursue legal action against your for the unpaid portion.
While it’s extremely stressful, you do have options…
Negotiate with your mortgage lender
Banks and other financial institutions are well aware that citizens of Alexandria are struggling. If you haven’t missed a payment yet, you may have some leverage to renegotiate the terms of your loan. Banks don’t like foreclosing on homes, and many will work with you if you aren’t too far behind. You may be offered forbearance, or even a full loan modification.
Ask for help from Uncle Sam
Over the last five years, the federal government has implemented a number of programs to help struggling homeowners. The Home Affordable Modification Program (HAMP) allows struggling homeowners to modify their loans, reducing monthly payments. The Home Affordable Refinance Program allows homeowners who are current on their mortgage payments refinance an adjustable rate mortgage into a low-interest, fixed rate loan. Both of these programs are subject to eligibility requirements.
We understand that the possibility of losing your home can be stressful. You aren’t alone. Citizens all over Alexandria are going through the same troubles. Foreclosure can have a lasting effect on your financial life, and it’s important to move quickly and take advantage of any options available. You could save both your credit rating and remain in your home.
The House Guys Are A Simple Solution
If you think you need to sell your house in Virginia fast, then you may need an investor. The House Guys are local homebuyers in Alexandria and we’re helping local homeowners solve their housing problems quick and hassle-free. We may be able to help you stop your foreclosure in Virginia…You’ll need to reach out as soon as possible after you get a foreclosure notice of default.
We buy properties in Virginia and if your house in Alexandria qualifies, we can make you a quick and fair cash offer. Connect with us today and we can discuss your situation. We don’t charge any fees… we’ll evaluate your situation… and present you your options so you can move forward and get this foreclosure behind you. (571) 207-5171