Avoid Credit Issues – Don’t lose your equity and ruin your credit.
Are you currently facing Foreclosure in Lee’s Summit?
Has your ARM reset to a rate you can’t afford? Have you experienced some sort of financial setback? Are you a veteran facing foreclosure in Lee’s Summit?
Don’t worry – you don’t have to foreclose your home. I have a fast solution to your problem! In this article you will learn how to stop home foreclosure proceedings, how to avoid them and how to get help from the government, including help for veterans. We will closely look at all processes and help you get back on track fast.
But first thing’s first.
What is foreclosure?
Foreclosure is an auction which occurs when the homeowner fails to pay the mortgage. If it can’t be sold at an auction, it becomes a part of the lending institution.
Types of Foreclosure
Zillow identifies two types of foreclosure – judicial and non-judicial
Judicial Foreclosure in Lee’s Summit, MO:
- A civil lawsuit is formed against the borrower.
- Everything is handled by the legal court system.
- A notice of pendency is performed.
- The court agrees or disagrees on the lender’s decision of foreclosure.
- The notice of sale is published.
- The process takes from 4 to 8 months.
Non-Judicial Foreclosure in Lee’s Summit, MO:
- A deed of trust conveys an interest in real property to a third party to hold as security for repayment of a debt.
- The trustee is able to begin foreclosure.
- Notice of Default is recorded and the borrower is given a deadline to repay what he owes or object.
How to get help from the government in Lee’s Summit
U.S department of Housing and Urban Development presented several programs, implemented by The Obama Administration, which will help you avoid foreclosure. The list includes Making Home Affordable © (MHA) Program. Its strategy is to “help homeowners avoid foreclosure, stabilize the country’s housing market, and improve the nation’s economy.” Companies like Federal Deposit Insurance Corporation also work towards helping you make easy and affordable repayments to your home.
Avoid foreclosure and get fast cash for your Lees Summit house. We can make you a fair cash offer within 24 hours!
How to stop foreclosure in Lee’s Summit?
UAC (Urban Affairs Coalition) created a Resource Guide which will help you stop foreclosure. The guide features up-to-date information on how to avoid and stop you from losing your home.
Here are some tips on how to stop foreclosure:
- Contact the lender as soon as possible.
- Consider loan modification, a repayment plan, a reinstatement, forbearance and any other options available to you.
- Refinance your loan.
- Sell your home.
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