Once you realize there’s a problem that can lead to missed mortgage payments and foreclosure down the road, you need to act fast, and act accordingly, before it’s too late and nothing can be done anymore! Here are some foreclosure prevention tips.
1. Keep the communication lines open. It is always good to let your creditors know of your current situation which prevents you from fulfilling your loan obligations.
2. Restructure your loan. Getting longer payment terms would help lower one’s monthly amortization while the creditor maintains a performing and earning loan.
3. Refinance your loan. If you are not yet in default, you may opt to refinance your loan with another bank or lending institution, and go for longer payment terms and lower interest rates.
4. Sell your property before it gets foreclosed. The proceeds of the sale will be used to pay the entire loan amount — that is, assuming that the property can be sold for an amount that would at least be equal to the entire debt.
Prevention is better than cure. We can buy your house fast in Texas! Markette Properties presents an unique, simple approach for selling your home! We are real estate investors. We buy houses in Texas just like yours! We are dedicated to the highest professional real estate standards for all of our clients.
Do you want to sell your house fast in Texas for top dollar with the least hassle? Give us a call! (210) 853-2788 or click the button below.