Time is of the essence. Unfortunately, those words can hit deeply when you are facing possible foreclosure. Too many properties go into foreclosure each month and end up being auctioned in Hidalgo and Cameron counties. Many of these foreclosures could be avoided if the homeowner could reach out to their lender or if they would contact a professional home buyer on time (check people’s credential to avoid scammers or wholesellers that promise to buy your house but do not clean the title and transfer the deed with a legit title company). Before it’s too late, you should try to get in touch with your lender to see if you can make some kind of agreement to avoid foreclosure. Facing foreclosure is a very stressful situation to handle, and knowledge can help you, especially when it concerns a financial matter as serious as a foreclosure in McAllen. By educating yourself on the details of the foreclosure process, you’ll have a better understanding what you may be facing next.
We’ve gathered together the following tips to help you understand the ways you can fight back against foreclosure in McAllen.
Need to Make the First Move
The best way to fight back against foreclosure in McAllen is to be upfront with your lender: you need to get in touch and let them know that you are facing financial issues or other life challenges which will interfere with your ability to keep making your monthly mortgage payments on time. Your lender may be willing to work with you towards maintaining the mortgage through special financial arrangements, such as forbearance with a specified repayment plan or a loan modification. If you’re considering selling your home as a solution, working with a professional investor from Dolfin RGV can help you understand your options. If you believe you could afford the holding costs to wait for a buyer to come along, you’ll know what you would earn if you worked with a real estate agent or sold directly to Dolfin RGV.
It’s Not Too Late
If you’ve received notices from your lender and hesitated in making any moves to fight back against foreclosure in McAllen, but foreclosure proceedings have yet to start, you can still reach out to the mortgage lender about a short sale or deed in lieu. A short sale requires the lender’s permission, allowing the property to sell for less than is owing on the existing mortgage. However, it’s important to note you may still be left owing the difference to the lender. Whatever you decide, do not ignore the letters from your lender. Therefore, we encourage you to compare these options for yourself. Should you select to sell to Dolfin RGV, in many cases, Dolfin RGV offers our guaranteed closing within a matter of days. Need a few more days or weeks before you move? Dolfin RGV can set a date that suits you best. And Dolfin RGV is fully transparent with how we calculated our offer, so you’ll agree it is fair. Fair and transparent! You chose your closing date!! and save your credit at the same time. Reach out to find out if our offer can work for you.
Running Out of Time
A foreclosure will remain on your credit history for seven years following the first missed payment. Depending on the type of bankruptcy you file, this red flag could stay on your credit history for up to ten years. Suppose you need to decide between which is worse for your credit, bankruptcy, or foreclosure. In that case, your unique situation causing the foreclosure will be the deciding factor. Basically you will have to analyze what will do the least amount of damage to your future. Both options can make attaining another mortgage down the road difficult, depending on your credit history following the event. Possible consequences could include limited living options, your ability to acquire credit, and possibly missed employment opportunities. There are other solutions you may find. One of them is to sell your house to a direct home buyer. Dolfin RGV may be the answer to your troubles. Dolfin RGV can help you maintain your credit standing with our fast closings to fight back against foreclosure in McAllen. In addition, because the professional investors at Dolfin RGV will pay you in cash, you won’t have to worry about financing approval delays.
At Dolfin RGV, we stop and take the time to listen to your unique situation. At Dolfin RGV we have over many years of experience in the Valley helping homeowners facing foreclosure. The professionals at Dolfin RGV will help you win the fight against foreclosure in McAllen. To learn more, send us a message or call Dolfin RGV at (956) 904 5234.