Step by step help to stop foreclosure
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options to stop foreclosure
Option #1
Option #1: Let us pay the bank and bring the loan current, pay all penalties, taxes, and liens. Your credit improves immediately You make no repairs. There are no realtor commissions or attorney. fees. We buy the house. You walk away free and clear. Many times we can pay you too. You may even stay in the house depending on the situation.
Option #2: Rent it out and become a landlord - You'll run the risk of having to evict someone or have to make expensive repairs if the property is trashed. Then there's the local landlord laws that are never friendly to an owner.
Option #3: Refinance the loan - This may be a possibility if you can show you have the income to pay the new note and back payments and penalties.
Option #4: Forbearance - Ask the bank to temporarily delay the foreclosure. Only possible if the bank is willing to negotiate or by government mandate.
Option #5:Modify the loan - Negotiate with the bank to modify the terms of your loan, hopefully for a more favorable outcome than foreclosure.
Option #5: Do a short sale. Sell the property for less than what's owed on the loan. You'll pay realtor fees. And, you may still be on the hook for the difference.
Option #6: Apply for Government Assistance - Possible as long as there are programs available. Varies by state
Option #7: Reverse Mortgage - Must be 62 or older and must stay in the house until death or you sell the house and pay back the money borrowed plus interest and fees.
Option #8: Deed in lieu of foreclosure - Give the property back to the bank. Not quite, but almost as bad as a foreclosure. It's on your credit report for years.
Option #9: Bankruptcy - credit's goes in the toilet for years. You won't be buying anything for years except at the highest interest rates.
Option #10: Do Nothing - The worst option. No credit for years, may prevent your from getting an apartment, or a job and or may possibly cause termination from your existing job if you deal with money or sensitive information.
Why You Must Stop Foreclosure Reasons #1, #2, and #3
- 1. Foreclosure destroys your credit for 7 years.
- 2. You'll lose your house.
- 3. You'll receive nothing.
If you take action now, we guarantee we can stop foreclosure. Click on the Contact Us button below for a free report on stopping foreclosure.
Why you must stop foreclosure: Reasons #4, #5, #6
- 4. A foreclosure stops you from getting an apartment or house of your choice. You'll have to settle for less.
- 5. You'll could owe the bank $1000s.
- 6. Makes buying anything on credit more expensive.
If you take action now, we guarantee we can stop foreclosure. Click on the button below for a free report on stopping foreclosure.
Why you must stop foreclosure: Reasons #7, #8, and #9
- 7. Leaves your estate with debt . And makes it difficult to leave anything in your will.
- 8. Triggers a tax liability with the IRS. You 'll have to pay taxes on the forgiven debt for years.
- 9. Prevents you from getting hired. You might even be fired.
If you take action now, we guarantee we can stop foreclosure. Click on the button below for a free report on stopping foreclosure.
We are Committed to Serving Others
123 Foreclosure Not Me started helping others in 2011. We were called Commonwealth. We did a variety of real estate, financial, and investment services. What we did best however, was help people stop foreclosure. So, we changed our name to 123 Foreclosure Not Me. I know it may sound a little corny , but it tells what we do. Fast forward to now and we've helped 100s of people just like you to stop foreclosure. We've learned that every successful strategy starts with an excellent client relationship. It doesn't work unless there's trust and the mission of exceeding our client’s every expectation. Call us today to find out how we can s help stop foreclosure.
What Makes Up Your Credit Score
Additional Information
SCORING TIPS for HEALTHY CREDIT:
1. Try to keep credit utilization under 30%. This is the amount of credit you're using compared to what your limit is. Example if you have 10,000 in credit try and limit use to $3,333.00. It shows you can control your spending.
2. Some interest rates are variable - meaning the rate can change without you being notified. Keep your eye on this and explore your options. Example: A variable rate mortgage of $200,000 starting at a friendly 4% jumps to a market rate of 8% after the initial period of say 1 year. Your payment jumps from $955 to $1468. Ouch! Consider locking in a lower rate before the initial period is up.
3. Pay your bills by the due date! If you can't pay the full amount, call your creditor and pay something. This SHOWS GOOD FAITH. You are making the effort to full full your financial obligations. It MITIGATES NEGATIVE CONSEQUENCES. PRESERVES YOUR CREDIT SCORE. Consistently making smaller payments may have less severe impact on your credit score compared to not making any payments at all. OPENS COMMUNICATION CHANNELS: This communication can be crucial if you need to negotiate a more manageable repayment plan or discuss financial hardships.
4. You control your credit destiny!
It's important to note that different credit bureaus may use slightly different formulas for calculating credit scores. Additionally, factors such as income, employment history, and demographic information are not directly included in traditional credit scoring models, though they may be considered by lenders in their decision-making processes. Regularly monitoring your credit report and taking steps to maintain a positive credit history can help you build and sustain a good credit score over time.
BE A SUPER HERO. STOP THE FORECLOSURE NOW.
YOU WON'T REGRET IT.
- Begin to live a worry and stress free life
- Improve your credit score immediately
- Get on with your life sooner.
- Eliminate long term debt
- Keep the IRS off your back
- Won't cost you a penny
GET A FREE REPORT
BY CLICKING ON THE BUTTON BELOW.
