fbpx

Avoid Foreclosure in Virginia

Gavel, American Flag and Foreclosure Notice

Avoid Foreclosure in Virginia

Foreclosure can be intimidating. Homeowners read this! Don’t lose your home.

We know firsthand and understand that unexpected things just happen in life. Family emergencies, losing loved ones, or another financial crisis compound and everything goes south. Delinquent notices and collection calls pile up and now you’ve received a notice of foreclosure? Don’t panic. Take a deep breath, and remember that as a smart Virginia homeowner, you’ve got this! Dealing with a potential foreclosure can send shockwaves through a family and is never easy to deal with. But there is a way for you to work your way through and or completely avoid foreclosure. Virginia homeowners like you are getting the information they need from our free resources and are making the informed decisions needed to avoid foreclosure. Wherever you are in the foreclosure process you deserve to know your options, especially the one that puts cash in your pocket, saves your credit, and helps you to move forward with integrity.

What is Foreclosure?

Understanding this long legal process early on is one of the best things homeowners can do to prevent foreclosure. When a lender moves to repossess your home there are four major milestones that you need to be aware of. Knowing what milestone of the foreclosure process you are at helps you to make the appropriate decisions at the right time.

Missed Mortgage Payment

This is milestone one, the first step in the foreclosure process. For whatever reason, you realize that you cannot make your mortgage payment. Don’t hesitate to call your lender, there are many options to change your lending agreement.

Notice of Default

This is milestone two, after 90-180 days of missed payments your lender has officially filed a notice of default with your County Records Office. Your friendly neighborhood sheriff’s office will ensure that you receive the notice and post it your front door. Opening and reading this mail may be overwhelming; no one imagines losing their home to foreclosure. You still have time and options at this point.

Grace Period

This is milestone three, and your lender will communicate your options to redeem the property by paying the outstanding mortgage payments in full within the 30 to 120 day grace period. If you can make the payments in full, the foreclosure is then dismissed.

Forced Sale

After the grace period, your home may be forcibly sold at auction. I know it may seem like you’re inevitably loosing your home, but your still have options as a Virginia homeowner facing foreclosure. This is far from over and you can exercise your Right of Redemption up until the home is actively being sold at auction. This means that you can repay the debt and reclaim your house in the final hour, thus ending foreclosure.

What are Housing Counselors?

Federal Housing and Urban Department provides free foreclosure prevention counseling. Avoid Foreclosure with their assistance at the many locations available across Virginia throughout the great cities of Virginia Beach, Norfolk, Chesapeake, Portsmouth, Suffolk, Hampton, and Newport News.

These advocates can help you understand your options and the law as you communicate with your lender. With their help you will be better informed and equipped for your unique personal situation.

You Have Options to Help You Avoid Foreclosure in Virginia.

Life is always going to what life does best and surprise us. You can’t fix everything as a homeowner and foreclosure is not the end. Whether you find yourself behind on a few payments or days away from auction don’t avoid the issue and don’t panic. Get the money you need fast to avoid foreclosure and move forward in life with integrity.

Unlike other cash buyers in our area, Hampton Roads is our home. We live here, we work here, and our family is committed to serving Tidewater by providing solutions to everyday real estate burdens. The bottom line is that selling a house can be a stressful, time-consuming process for just about anybody. When we buy houses in Hampton Roads, we’re offering a chance to get that process over with quickly and easily so you can continue to take care of your family.

The good news is that we’ve seen our sellers overcome many hurdles including foreclosure and come out on top. We think you can do it, too. We’re here to help you achieve a win-win solution without dragging you through an expensive, drawn-out selling process. Give us a call anytime 757-276-3322

 

 

Related Posts

Ready to sell?

Get a fair cash offer, fast

"*" indicates required fields

Name*
Address*
This field is for validation purposes and should be left unchanged.
Call us and get a Cash Offer!

Or fill out your details and we will get back to you with a free quote