How to Avoid Foreclosure in Springfield
Do you own a home in Springfield, Oregon that is currently in foreclosure or with a distressed mortgage? You may think that you don’t have a lot of options at this point besides suddenly coming up with a lot of money or having your home foreclosed on. But that’s actually not the case.
The first thing you are going to need to do when facing foreclosure or a distressed mortgage is keep your wits around you and avoid getting overly emotional. You will want to make rational decisions and not jump to the conclusion that you cannot stop the foreclosure because you don’t have the money right now. The truth is, the bank really doesn’t want to have to foreclose if they don’t have to. So instead of giving up, let’s explore your options to avoid foreclosure in Springfield, Oregon.
What You Can Do if Your House is in Foreclosure in Springfield, Oregon
Remember, there are still options for Springfield, Oregon homeowners in foreclosure or with a distressed mortgage. Let’s talk over a few of the key things you can do:
- List your house with a professional realtor: The default option is to sell your home for top dollar value in the current market to a new home owner with the help of a professional realtor who will list it for you on the MLS. By selling your home before it is foreclosed upon, you can pay off your mortgage to the bank and avoid having them foreclose on you, which would negatively impact your credit and make it hard for your family to find a new place to live altogether, let alone buy a new home. However, this option doesn’t always work because often homes are not in prime condition to be competitive on the market. This means time and money must be spent to repair them, which homeowners facing foreclosure often do not have.
- Talk to your bank/lender to find out if they will work with you: The good news is that most banks would rather work something out (within reason) than foreclose on a home. So you want to make sure you’ve kept in good communication with them. If you haven’t, it’s never too late to start. Just be honest that you were overwhelmed and that you want to do what you can to make the situation work out the best it possibly can for all involved. You may be surprised what they say. They may extend your time so you can sell on the MLS, allow you to live in the home past the foreclosure date, or something else that fits your situation. The bottom line is your best options are those where your bank is working with you, so make sure to talk to them.
- Quickly sell your Home in Springfield for Cash to Cornerstone: Even if all other options are exhausted, there is a good chance we here at Cornerstone can help you out by buying your house for cash as is. That means you don’t have repair anything, or pay fees to realtor, or wait months on end to get paid. What’s more, we don’t work with a bank but finance all our purchases ourselves. That means when we decide to make you an offer, it’s firm and we can have you cash in hand in as little as 7 days. Just like that, all those worries and stress can be over, your credit score can be protected, the bank is happy because they got their money without foreclosing.
Which Option is best for you?
Now one thing to keep in mind, because we pay cash up front for less than ideal properties and take on all the risk and work to repair and restore the property to sell it at top dollar, we cannot offer you the full amount you’d make selling it the traditional way. However, when in foreclosure in Springfield, Oregon, this may not always be an option. That’s when we can really help out.
Going Through Bankruptcy? We Can Help You Avoid Foreclosure.
The best thing is there is no obligation, cost, or pressure at any time. We believe in the Eugene, Oregon community of homeowners and are here to support you however we can. If that means discussing your current offer, making an offer on your home, exploring other options, or just answering a quick question, give us a call!
For a free, no cost, no obligation offer in cash for your home in Springfield, Oregon, fill out the form on this page or give us a call. We can close in as little as a few days and have you cash in hand as soon as seven days after that. Remember, don’t get overwhelmed, but take charge of your situation by exploring your options.