Facing Foreclosure? – You’ve come to the right place… find out your options here…
Are you behind on your house payments? One of the scariest things in life can be staring into the face of a foreclosure. We are the experts in stopping foreclosure FAST!
As you probably already know, once a foreclosure is executed it can stay on your credit report for as long as ten years, inhibiting your ability to apply for other types of credit, as well as stopping you in your tracks when you later try to buy a home.
What you may NOT be aware of is that you do have options. Brookview Properties, LLC has helped countless people around Southern Connecticut stop foreclosure and stay out of trouble with their lenders. We are proud to provide you with THE BEST solutions in New Haven County so you won’t need to lose sleep over your situation.
It’s time to relax…
We’re here to help now. Remember, regardless of how hopeless things may seem, you DO have options right now. You don’t have to watch your home get taken from you. It’s time for YOU to decide. And now it’s time for us to show you what some of your options are.
Many people facing foreclosure simply do nothing and hope for a miracle. Don’t fall into that trap! In many states, there is only a 21 day period that your lender has to announce before they can foreclose, so the longer you wait, the less options you allow yourself.
Also, once a foreclosure has been initiated, your lender will accelerate your loan, which means that they will no longer accept a payment less than the full amount due, including back payments If you send them anything less than the full amount owed, they will likely send it back to you, asking for the whole amount. Also, the longer you wait, the more you’ll end up paying in court costs, late charges, and attorney’s fees. So DON’T WAIT. You’re already making the first stop by taking initiative. You’re already better off than many others that are facing your same exact situation today! And the faster you allow us to help you, the more options you’ll allow yourself!
So What Are The Options?
Often times your lender will work with you to help you get caught up on your back payments. Keep in mind that your lender does not WANT to foreclose on your house. The bank is not in the real estate business. They are in the business of loaning money, and when they have to take back a house on a foreclosure, it looks bad on their records. Many times, if you ask them, they will work with you to help you get caught up.
For example, if your normal house payment is $1000 per month, and you’re 3 months behind, sometimes the bank will allow you to make up that $3000 that you’re behind over the next 6 months. Then for the next 6 months you will pay your normal house payment of $1000 per month, PLUS an additional $500 per month, until you’re caught up. If you are able to make that additional payment for a while, and your lender is willing to do this, sometimes the solution is as easy as that.
However, in this situation, it is essential that you are 100% confident that you can live up to this agreement and pay ALL of your future payments on the exact due date that is agreed upon. Often, if you are even one day late on any future forbearance agreement payments, the lender will immediately initiate a foreclosure again, and you will not be given a second chance.
Brookview Properties can help you get through this process – free of charge!
Get Help Making Up Back Payments
Is it possible that you have overlooked a way to make up the back payments?
- Do you have a 401K you can borrow from?
- Can you borrow from friends or family?
- Do you have a credit card you can cash advance to help get you caught up?
- Can you get a cash advance at your current job?
- Do you have anything of value that you could sell or even borrow money against?
Sometimes, lenders will give you loans no matter what your current credit situation is if you have something of value to use as collateral.
Just make sure that you’re not borrowing MORE money to get you FURTHER in the hole. The last thing you want to have happen is to be in this same situation 3 or 4 months from now AND owe other people money too!
Sell your house
Have you tried to sell your house with no luck? Have you even considered the option of selling? In some situations, the best answer is to just sell the house and start over fresh with something new.
More often than not, however, this is not simple task. It is very common for potential buyers to ask the sellers to fix everything in the house before they will move in. If your house needs any repairs at all, this could pose a problem. Also, as you may already know, it’s pretty easy for the buyer to back out of a contract at the last minute if everything does not go as planned. Sometimes, you may even owe more on the house than it’s able to sell for. (If so, refer to the “Short Sale” option above)
Brookview Properties works with some of the best licensed realtors in Connecticut to assist you in the selling of your home. And we don’t just stick with the “traditional” ways to sell your house. We’ve got dozens of cutting edge and innovative ways to market and sell your house…ways that most traditional realtors can’t even imagine! Just keep in mind that sometimes a traditional sale can only work if given enough time. If your foreclosure date is just around the corner and there proves to be not enough time to sell the house, we’ll actually BUY it! How’s that for a guarantee?
Initiate a “SHORT SALE” with Your Lender
What in the heck is a short sale you may ask? A short sale is when the lender is willing to “discount” what you owe them in exchange for a total payoff, so that they don’t have to foreclose.
What does that mean? Here’s an example… let’s say that you owe $100,000 on your home, and it’s only WORTH $100,000 in its current, as-is condition. In this case, it would be difficult to sell the house fast, because you would have to find someone willing to pay full price for your home in the exact condition that it’s in. PLUS, the buyer would have to be willing to close QUICKLY, so that you could sell the house before it goes to foreclosure.
Brookview Properties is able to initiate a short sale with your lender to “create” the equity that will help sell your home quickly. Sometimes, we can even get you money back in the process! Even if you currently owe more money than the house is worth! And even if it needs repairs! No matter how pretty or ugly the house is, and no matter how much you owe on the house, we can help!
Refinance Your Home
In some cases, we can help you refinance your home to help you get caught up on back payments. Sometimes we can even LOWER the interest rate that you’re currently paying, which will in turn LOWER your monthly payment. That may be all you need to get back on your feet. If you’ve seen some tough times lately, but now you have things back under control, a refinance may help you get a fresh start.