The Ultimate Guide to Stop Foreclosure

Don’t you want to know all your options to stop a foreclosure?

Facing foreclosure is very stressful. I know. But here you will start to see you have options.

OVER 50,000 HOMES WERE FORECLOSED ON LAST YEAR! YOU HAVE OPTIONS AND CAN STOP FORECLOSURE.

We do! and we want to tell you now!

Foreclosures can happen to anyone. I am sure you can think of someone who has experienced this, right? 

This document will teach you the good, the bad and the options that you have when things go bad. After this you will know all your options on how to stop foreclosure and know exactly where to get foreclosure help,

YES, you have options.

You just need to know where to look and how to find them. You have to find a trusted source of info. 

We will provide you links to govt sites, factual reviewed articles and more. 

There are many reasons why homeowners get behind on payments and the bank decides to foreclose. Many of these situations are not your fault, and we know that.

Maybe there is a global health pandemic shutting down world economies and maybe someone loses their job. 

Where can you find help in this stressful situation?

When the bank is sending letters and collection companies are calling you to need to act. sometimes you need to act fast. there is so much information on the internet these days. which information is accurate?

Which information is relevant?

Are the laws in Colorado the same in Indianapolis?

Who is telling me the truth?

Where do I start?

Should I choose bankruptcy

What is bankruptcy

What will happen to my credit score if I declare bankruptcy does it matter if my credit score goes down

What is the best financial decision for me?

The list of questions is endless! Choosing the right option seems impossible.

This comprehensive guide will answer these questions in an Easy-to-Read format. we will not use any unnecessary legal jargon this is written the normal people like me and you. being overwhelmed by money problems is horrible, trust me I know, but hopefully, this guide will provide you with the necessary information to help you make a sound decision. guy a small way to helping you make a sound decision.

Where can I find foreclosure help?

You should be proud of yourself for asking this question. Facing a foreclosure is sometimes something we want to ignore. To make the best of a bad situation seeking help is very important. obviously you have come to the internet where the amount of information can be overwhelming. when you type how to stop foreclosure millions of results appear so where do you turn?

some great advice I was once given, by a dear friend, on way to find good information as I should only go to websites that I trusted. he went on to say that wherever I tuned if it sounded too good to be true it probably was. this advice is great advice when you are at risk of losing your house.

A good place to start could be https://www.usa.gov/foreclosure. Here the government tries to layout information in an Easy-to-Read format. they address everything they can think of in regards to foreclosure. I I think the best place to start is learning about the foreclosure process itself.

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Financial turmoil? I’ve been there too…

Hi, My name is Shaun. A while back my I did not feel secure at all. For me, this is very personal. I do understand the stress, anxiety, and fear of the unknown. Because of this I know I can at least hear what’s going on for you, maybe show you that you do have options.

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What is a foreclosure?

There are a lot of negative statistics out the about foreclosures that when you understand what it is and how it works it can reduce some of the fear.

very simply a mortgage foreclosure happens typically when a borrower Gets behind and they payments if the borrower is unable to catch up on their payments the bank 10 be allowed to start a process to get their money back. this process is called a foreclosure.

each state in the country gets to decide between two types of foreclosure process has either judicial or non-judicial. for example, if you are in foreclosure in Denver, Colorado the non-judicial process will be used whereas Indianapolis Indiana uses the judicial process.

First – lets hit on the basic options that we see all over the internet – we go into much more comprehensive and useful information further down.

1. Apply for a loan modification

2. File for bankruptcy

3. Short Sale your home

4. Deed in Lieu

5. Lease Option

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Are you Facing a Judicial Foreclosure or a Non Judicial Foreclosure?

key differences between judicial and non-judicial foreclosures.

Very simply put A non-judicial foreclosure does not involve a judge or the court system. the responsibility to make sure all the rules, regulations and laws are followed goes to the Public Trustee. In Colorado the Public Trustee is given the job by the governor of the state.  quite often this person is an experienced lawyer, 

A Judicial foreclosure occurs when the lender has to take the borrower to court in order to get the money back.   this day involves a judge and normally this is a long process. if you are facing a foreclosure in Indianapolis, Indiana The bank will have to use a judicial process to foreclose on you. 

 to find out if you live in a state that permits non-judicial foreclosure,  see this follow this link to Key Aspects of State Foreclosure Law: 50 state chart. 

 

Typical timelines. 

Non-judicial foreclosures (remember that’s when the courts are not involved) in  cities like Denver Colorado typically take around four months, from the time you receive the first notice from the bank until they sell your house.   However, you must be very careful as it can happen a lot more quickly. In fact in Georgia, A foreclosure can be completed in as little as 37 days. 

judicial proceedings can be Wrapped up in three and a half months but can easily take longer than a year.  On average it takes about 150 days to foreclose on a property in Indianapolis Indiana. 

 

The end result of a foreclosure either in  Denver Colorado or Indianapolis Indiana is the bank sells your house and takes the money from the sale.  in an ideal situation, you would stop this occurring and there are several ways to do this.

Two different paths a homeowner can decide between is selling the home to prevent foreclosure or filing for bankruptcy.  the answer to” should I sell my house to prevent a foreclosure” is a very difficult one to decide. such Financial turmoil can often Cloud out judgment.  depending on who you ask obviously the answer will vary some experts have been quoted as saying it’s much better to sell the property to avoid the full closure well other Financial experts believe you should  not sell your house and risk bankruptcy. 

 

How Should I sell my Hose?

When you are selling your house it is important that before you talk to anybody you know what it is that you need.  Once you have decided what you need then you need to work out how to sell it. You could use a real estate agent but this takes longer than you have.  Also, the rehab and repairs that buyers and agents require can cost a lot of money

Another choice you have to sell your house could be called the “ We Buy Houses” or “We Buy Ugly Houses” type companies.   all too often people question the integrity of these companies. they ask questions like “Can  these companies be trusted?” or “will they really pay me cash?” 

 The 3rd option and one we would Confidently argue is the best,  is using an I-Buyer.  Our company Watson Buys Houses is an I-Buyer.  We take the best of both worlds and leave all of the bad parts behind.  

As an iBuyer, we work directly with customers providing instant cash offers to purchase the house outright.  I buy purchase the home as-is without requesting any rehab or repairs upgrades warranties closing costs or conditions or real estate agent commission.   I buying allows the homeowner to sell the house without an agent which saves a ton of money and time while avoiding all the headaches and costs that are involved with a traditional real estate sale. 

To determine the ideal price for the property we use technology and local knowledge.  A person who wants to sell their house can go directly to our website www.watsonbuys.com , Complete a form. Or call us. The technology we use streamlines the buying process which speeds it up significantly this is the for a very appealing option for selling a house  Wayne the owner is facing foreclosure. Our local knowledge allows us to get the best price that we can. we all know tell prices can vary from neighborhood to neighborhood so it is very important that you work with someone that has that local knowledge and understands the value of your house,

It is also important that the  people that you work with can be trusted.    it would be great if you were able to discuss this with a family member or friend that has your back. talking about your options could be very beneficial. 

 

Should I choose Bankruptcy? 

 like any choice you’re about as pros and cons to choosing this path Sisley, we must remind you that we are not lawyers and we are not offering legal advice what were you trying to do is put together information that hopefully is useful to someone who is in financial distress

Bankruptcy is a legal process that happens when a person does not have enough money to pay all the debts when talking about a foreclosure it means there is not enough money to pay the monthly amount.  there are many different types of bankruptcy. Commonly people that are facing the possibility of losing their house because of a full closure are advised to use, what is cold, a Chapter 13 bankruptcy. 

Losing your house to the bank can be one of the scariest sings a homeowner May face. adding the term bankruptcy doesn’t make it any easier often people who have debt Beyond then means seek to file bankruptcy Chapter 13 Bankruptcy is designed as a pass to keep your property for the long-term by way of restructuring your debt.  another way to put it is you may be allowed to negotiate a long-term payment plan to catch up on all your late payments and fees with the bank. it must be remembered that well paying for Goldie added Bank charges the homeowner is still responsible for making monthly payments to the mortgage,  Insurance Company and for maintaining the house.

 so it’s important to understand the bankruptcy is anything but a quick fix –  in fact, it’s a very serious process full of complicated legal jargon and requirements.  you must also make all eligibility standards. as previously mentioned there is a continued commitment to paying off old late fees lawyer fees and ongoing mortgage costs because of the bankruptcy.   we will now run through some of the ways bankruptcy may keep you in your home and a few of the reasons you may not want to put you see yourself through this process. 

 most often chapter 13 is a wise choice for people who have a lot of debt but still have a steady income.  Chapter 13 will allow a person to propose a repayment plan typically 3 to 5 years depending on the income.  it’s the person in financial trouble who follows the plan exactly and meets all conditions they may end up keeping the house.

Chapter 13 bankruptcy in effect pushes the pause button on the foreclosure process via the “automatic stay” rule.   This can create a little breathing room. When the person has a steady income this pause may allow them to catch up with the payments

It is important to understand that the foreclosure doesn’t stop completely during bankruptcy proceedings.  you also must remember new mortgage payments during the chapter 13 mess to be made otherwise the bank can I ask for the foreclosure process to move forward. 

one of the ways to fix a bankruptcy is that a negatively impacts your credit score typically it will stay on your credit report for 7 years and is considered very negative. in the future  lenders will consider this seriously when deciding if you are allowed a new loan credit card oh good interest rates. 

 as stated earlier in the sky making a choice between selling your house and filing for bankruptcy is a very difficult one and in a humble opinion selling your house saving some of that hard-earned equity and moving forward without a bankruptcy on your credit score is the best option. 

To summarize this guy. A foreclosure cuz when someone is unable to make payments to the bank for the mortgage there is an unimaginable amount of information out there for you too listen to or read and making the right decision can seem impossible.

 

Unfortunately, the correct decision may mean you have to sell your house – and in a hurry.  if you were unable to catch up with your payments the foreclosure will occur. please do not ignore it that would definitely be the worst thing to do

 

 Contacting Watson Buys Houses is a very good option. we have the technology to help us complete these transactions as soon as you need us to. We will work Non-Stop, From the time you reach out for our help,  until the time we come up with a solution. the solution will mean the bank will not foreclose on your house and you get to save some of that hard-earned equity.  

In the perfect world, no-one would ever experience the hardships of foreclosure but it is an unfortunate reality.  

Often these money problems are not caused by you.  However, if this is the situation you are in you must seek help.  We want to help you and we can help you. 

 we hope this guide goes some way to helping you understand what a full closure is we also hope that we have given you some information that will help you decide what to do if he was facing a full closure. 

Hopefully, now you see that you have several options. if this is your situation we want to buy your house and we want to stop the full closure.  we want to do this quickly for you so you can put it behind you and move forward. 

 please remember that if you were behind on your payments you should talk to someone that someone could be a family member, framed,  legal counsel, your bank or maybe even us. 

 please also remember that we are not financial advisors no are we lawyers or offering legal advice.  

 how weather we have worked with and how people look through this situation many times in the past

Whatever the reason that has brought you here, we are helping to help you out! Watson Buys Houses are not like any other real estate company out there. We are not into this business just to earn money, we are here to help homeowners as much as possible. 

Once again we want to acknowledge that there are many reasons out of al control that cause Financial hardships these Financial hardships can be extremely stressful.   they are on fear and we would wish them on nobody. 

 The ugly reality is that these situations do happen.   if you were in this situation we sincerely hope it works out in the best way possible for you. 

 if you do want more information from Watson buys houses feel free to contact us anytime you may request more information simply by filling out the form below

 please share this with family and friends so they can understand what is at stake when payments are late maybe by reading this it will go a small way to helping them understand what a full closure is and why they should avoid it.

 

There are 3 more situations that occur in life they’re not very pleasant.  any situations that may be easier to let us by your house. I will briefly talk about them now.  

 

divorce is one event that may require the selling of your house. Unfortunately, the lawyers may put pressure on you to get your house sold fast. we have experience working with people going through a divorce and can certainly help.

 

Another situation that may not be your fault is having bad tenants destroy your house.  we have all Heard lots of stories about this broken windows stained carpet mopped and damaged walls the list can go on and on but as this article is already very long I want to let me just say that if you have a ring tattoo that you just can’t deal with anymore we will buy your rental property as-is.  when I say as is I even mean you can leave the horrible tenant via. we will take care of them. all you have to do is let us know when you want to take this headache out from under you. 

Finally, maybe a loved one or distant relative passed away and left you a property.  you may decide that it would be a pest for you to sell. when you inherit a house it is 100% your choice as to whether you keep it or whether you sell it. The inheritance can be the proceeds from the sale of the property.  if you can’t make it from out of state or from across the country Watson buys houses can still get the deal done for you. as we are local to both Denver Colorado and Indianapolis Indiana you wouldn’t even have to come into town.  we could visit the property for you and we could even take pictures or videos. we wouldn’t require that you clean it up to repair any single rehab it. we would simply work with you to find out what you need and give you the fastest and most fair offer that we can. 

 technology is wonderful these days.  combining this and local knowledge is the best formula. 

 

NO OBLIGATION OR COMMITMENT

We Guarantee 100% you won’t pay us anything.  

in a nutshell, it will be free.  deciding to sell us your house will be the first of many decisions you get to choose.  yes, you are in control. You get to decide if you want to accept our offer and at any time you can tell us to stop. You get to decide the closing date. 

We do this because surveys have told us that giving you the information you need and letting you be in control 100% of the time is the best way to help people that I having a problem with real estate.

So what are you waiting for? Call us now at (720) 689-9995 and let’s discuss the options to solve your real estate situation right away!