Preventing a foreclosure can be a very difficult thing, but if you face it alone you are most likely not to succeed in avoiding a foreclosure.
Lets assume you know that you need help to prevent your foreclosure (statistics overwhelmingly show people that get help are more likely to avoid a foreclosure than people who don’t). The first question you must answer is, who do I turn to for a foreclosure prevention?
Generally speaking, there are two roads to go down for a foreclosure prevention. The first way is to stay in your house. The second is to sell your house and move on.
So, if you are going to figure out who you should contact to help you prevent a pending foreclosure, you must first ask yourself what the goal of your foreclosure prevention is: do you want to more than anything remain living in your house, or do you want to sell your house and move on with your life?
If you want to remain living in your home, you must then analyze your personal situation. Can I still afford to live in this house? Does the property need repairs and/or maintenance that I can’t afford.
If you can still afford to live in the house, it will just take some reshuffling of credit card debt and spending habits, and the property doesn’t have any maintenance that you can’t handle, the we absolutely recommend non for profit foreclosure counseling agencies. There are many out there that can help you, these people are trained and specialize in keeping you in your home.
You may not even need to meet with someone in person, often foreclosure prevention can be done entirely over the phone.
The role of foreclosure prevention counseling is to provide homeowners with counseling and financial education. A great resource of information about foreclosure prevention counselors is found at this link. These associations were funded by the government to try and help the people that are facing foreclosures out.
We help people that are going down the other foreclosure prevention path. The foreclosure prevention service that we provide has many advantages to it, and we help you avoid a foreclosure in saint louis by actually buying your house.
Most of the time we execute what is known as a short sale in these circumstances. Our St. Louis foreclosure prevention service is advantageous for people who:
- No longer want to make large monthly house payments on a house that is worth thousands of dollars less than what they bought it for. Each payment is making the bank rich and owner poorer due to the down real estate market.
- Property is in disprepair and can no longer afford to maintain/upkeep it
Are in a pickle: you just want to move on with your life, but you can’t until the house is sold, and you can’t sell the house because its worth less than what they bought it for. Even in this situation we can buy your house from you!
The key deciding factor when you choose a foreclosure prevention service is really do you want to hold on to your house?
Let me caution you. You need to be realistic here. If you want to hold on to your house, you need to be honestly evaluate whether or not you can afford to stay in the house.
For people want to stay in there house, and can realistically afford to do so, a non for profit foreclosure prevention service is the best route to go.
If you are ready to move on with your life free from the burden of your house, and don’t want a foreclosure on your credit to move on with you, then we are the best foreclosure prevention option.
Don’t forget to check out our last blog about how a short sale affects your credit scores.