How to Avoid Foreclosure in Eugene, Oregon

Are you a Homeowner in Eugene, Oregon with a home in distressed mortgage or pre-foreclosure? As a local real estate investor in Eugene, we make it our purpose to help homeowners in bad situations looking for a way out.

If You Have Gone Through Bankruptcy, We Can Help You Avoid Foreclosure

Facing foreclosure is perhaps the most frightening possibility of homeownership. The emotional turmoil and pain of having to leave your family home, not to mention the need to find a new home for your family and lingering financial effects, can be devastating. It can be tempting to just shut down in such a situation and let the bank do what they will. However, this is perhaps the worst possible decision you can make.

Instead, you should consider your options in Eugene, Oregon when facing foreclosure or when you have a distressed mortgage. You do not have to simply go through with the foreclosure and lose your home. In fact, that’s like the last thing the Bank wants to do. So let’s look at a few of the things you can do:

Things You Can Do When you Face Foreclosure in Eugene, Oregon

There are more things you can do than we could reasonably discuss in a short post, so let’s focus on some of the big things so that you don’t miss them:

  1. Talk to your bank/lender! One thing to keep in mind is that your bank really doesn’t want to have to go through the process of a foreclosure to get their money back. They’d much rather have another option (within reason). So keep the lines of communication open because they may be willing to work something out on payments or even arrangements to let you stay in the house for some extra time. Just stopping communication leaves them with little to nothing they can do except proceed with foreclosure, so first step is talk to them to see what they might be willing to do.
  2. Have a Professional Realtor Sell Your House: One of what could be the best options for you would be to list your house on the MLS with the assistance of a professional realtor. Such a realtor could help you get top dollar for your property from a new home owner. However, there are a few reasons that this may not work for you specifically. First, this is probably the most time-consuming way to sell your home. So if you are facing mortgage, you may not have time to sell it. This, of course, is one of the reasons you may want to keep in good communications with your bank. If they know your house is on the market and that you have an interested buyer, they may be willing to extend your foreclosure deadline.

 

Another problem with this option is that you may have to repair or make upgrades to your home in order to make it competitive in the current market. This takes time and money – which is likely problematic.

  1. Get Cash for Your Eugene Home Fast from Cornerstone: Even if there isn’t much time left, if your home is in disrepair, or you haven’t kept in good contact with your bank, you may still have options. Perhaps the best option would be to work with a real estate investor, like Cornerstone, who will pay cash for your house in Eugene, Oregon. Need to sell soon? No problem! Cornerstone can get you cash in hand in as little as 7 days after closing. Want us to let you know what we’d pay on your house without any obligation whatsoever? No Problem! Just fill out the form on this site or give us a call and we can get started.

What is your next step?

So go ahead and talk to your bank if you haven’t already. Then start evaluating your situation: is your house in good shape to be competitive in the current Eugene, Oregon real estate market? Do you have enough time and money to wait and sell it that way? Will your bank work with you? What sort of flexibility does that give you? Have you gotten a free offer for cash on your Eugene, Oregon home form Cornerstone?

We’re here to help, so give us a call or fill out the form and we can discuss your options, including offering advice on how to work with your bank and if your property would stand a good chance of selling on the MLS. There will never been any obligation or pressure. Cornerstone believes in and supports the Eugene, Oregon homeowner community. We want to do what’s best for you, for your home, and for Eugene.