Anyone who knows anything about foreclosure understands what it can be for a family facing the prospect of having their home foreclosed on. It doesn’t matter how they got there, the stress, the headache, the anxiety – they all go through it. Facing the prospect of losing your home can be daunting, but you should know there are options for selling, even if you are in foreclosure.
When understanding the effects of foreclosure on the community of Eugene, Oregon, it’s important to understand that there are options many who go through foreclosure fail to realize are available. Let’s look at some of the things those who are in the process of foreclosure in Eugene can do to ease the pain of their situation.
If You Own a Home in Foreclosure in Eugene, here are the possible effects of that foreclosure you may be facing
- A Lower Credit Rating – That’s right, the foreclosure will lower your credit score. The amount it lowers your score depends on where your score currently is, a higher score will drop further than a lower score. For example, those with scores of 680+ will likely see a loss of over 100 points.
- A Lowered Value for All Houses in the Neighborhood/Community – Another big effect facing Eugene homeowners is that a foreclosure doesn’t just affect the value of the home in question. There is a tendency to see a negative impact on all homes in an area with a foreclosure, especially when multiple foreclosures happen in the same area.
- Anxiety, Stress, & Depression – Most people who haven’t been in the situation fail to understand the levels of stress, anxiety, and depression that can plague a family facing foreclosure. At the very least, expect to be exhausted both emotionally and physically.
The Loss of Your Property or Home – It may seem an obvious consequence, but this is the ultimate result of foreclosure. It is an experience no family wants to go through
How You Can Ease The Effects Of Foreclosure In Eugene
For the well being of you and your family, you need to mitigate the effects of foreclosure as much as you can. The process can be frustrating and time consuming, but there are people who can help you navigate your different options in the process.
- Call your bank and work with them: Most banks are very willing and ready to work with you… if you can show that with their help you can get back on track and save your house. Or, if you just want out of the house but you owe more on the house than it’s worth… see if the bank has any programs to lower the mortgage burden so you can get out from underneath it without it going through an expensive foreclosure.
- Talk with a local real estate expert, like Cornerstone Properties: We know the local Eugene real estate market well and are very experienced in the foreclosure process here in Oregon. Give us a call at (541) 632-4351 and we can guide you toward the resources that can possibly help you.
- Sell your house: If you’d rather find a way to sell your house and avoid the foreclosure all together, great! We buy local Eugene houses for cash… and would love to look at your situation and make you a fair all-cash offer on your house. Just call us at (541) 632-4351 or shoot us your details through this website.
With the above knowledge on foreclosure effects in Eugene – what sellers need to know, you can guard yourself by calling Cornerstone Properties at (541) 632-4351 and we shall assist you in the shortest time possible to sell your house. However, to fast track the process, kindly fill out our website contact form to give us more information about you. We’d love to connect with you and help you find the best solution!