Foreclosure is a serious problem facing homeowners in the state of Washington. To date, nearly 1 in every 4,000 homes in the state are currently in foreclosure. Foreclosure is the worst-case scenario for homeownership. It means that you lose your home and that your credit is destroyed, likely making it impossible for you to become a homeowner again for many, many years.
Simply put, as the worst-case scenario, if you are facing a possible foreclosure or have fallen behind on your mortgage payments, literally anything you can do would be better than having the foreclosure finalized. This brings up some options that you would normally never consider, but that provide some interesting benefits when facing a foreclosure in the state of Washington.
Why Foreclosures happen so often
Each homeowner’s situation is different, but in most cases, there is a change in the work or familial living arrangement that affect the homeowner’s ability to make their monthly payments. Sometimes this can be due to a loss of a job or a divorce which results in a single-income household.
Whatever the case, you need to be proactive and protect your future ability to be a homeowner. Just call our offices or fill out the form on this page to discuss your situation with us. There is no cost or obligation. If we think we can help, we’ll come by and look at your house. We normally make offers within 24 hours of seeing a property. If your foreclosure is just around the corner, we can have money in hand for you within 9 days. This is one of the quickest options you’ll find.
How to Avoid Foreclosure Before It Is Too Late
As we already discussed, the options available to you when facing foreclosure are not that great, but the important thing is they are still significantly better than facing foreclosure. Summit Development works with homeowners in Vancouver and the Tri-Cities all the time who are facing foreclosure to find a way out that doesn’t involve having their credit destroyed.
The hard facts are these: staying in your home when facing foreclosure will depend entirely on your lender or bank. Your best bet is to stay as communicative as possible even if you are struggling with payments.
By selling your home to Summit Development before foreclosure is final, you can deduct the selling price from what you owe. Depending on how much of your home is paid off at the time, your lender may be willing to negotiate a payment plan, which is one of the reasons you want to stay in communication.
Protect Your Family and Credit
Don’t put your family through the stress of a foreclosure. Your best option, though it’s still challenging, is to take charge of your situation and sell your home to an investor like Summit who can pay cash up front to help cut off the foreclosure before it’s too late.
By planning your move yourself, you protect your family. By avoiding foreclosure, you protect your credit which will allow you to provide a home for your family in the future. Don’t wait, call us today.
Summit Development specializes in helping homeowners in Vancouver and the Tri-Cities who want to sell their home as quickly as they can. No matter what condition your house currently is in, we may be interested. Want to know more? Call 360-667-5424 (Vancouver) or 509-591-9196 (Tri-Cities) or fill out the form on this site today.