Dallas Foreclosure Help
Foreclosure Help in Dallas, Texas. Most people associate foreclosures with a terrible tragedy. A family being forced to move. A person having bad credit history for at least 7 years. As well as the need to start all over again from the ground up. That is partly true, but yo cannot put the blame on the lender or investor. Foreclosure can happen to just about any homeowner for different reasons. A job loss, a divorce, excess debt, or decreasing income. Homes financed at 100% of their equity without the ability to replay or credit profile to support such a transaction.
So what are foreclosures exactly? Simply, a foreclosure is when the lender initiates the process or court action taken when the borrower fails to pay his or her mortgage.
The process, when you read the fine print, is a combination of State and Federal laws, so the length of time for a foreclosure to happen varies by state. In Dallas, Texas after you have missed two(2) mortgage payments, the lender can and will notify you on the 3rd month with a Notice of Default.
Foreclosures in Dallas, Texas
After you have been notified by the lender, your options are very limited and you usually will not get any money from the sale your property. Many times I have told people to contact me prior to receiving the notice. After you receive the notice, there is a ninety day (90) day period before the property goes to auction for sale. Foreclosure help in Dallas, Texas. Call (214) 723-1304 Now!
If the property does not sell at auction, it will then become what is called an REO or property owned by the bank. I buy foreclosures, but I do not buy REO properties as the bank wants to also control the property after it is purchased at auction. Which in my book is absolutely ridiculous. I say this because of the time involved called Pre-Foreclosure, which is the time frame before the lender sends you the Notice of default or gets involved.
State and Federal Help
Market conditions can also contribute to a greater number of foreclosures. The inflated real estate prices create a situation where retail buyers may over pay for properties. If they do not know what they are doing. Today there are many programs the State of Texas and Federal Government offer. To help homeowners stay in their home or help them make their mortgage payment. And give those homeowners time to save up funds to continue making regular payments.
If you want to sell your home in Pre-Foreclosure, call me at (214) 723-1304 or fill out the Form on my web site www.cashforhousesrh.com. I will contact you as soon as I perform my due diligence on your property. I have helped hundreds of homeowners get out of sticky situations while in foreclosure.
I use several methods of buying houses in Dallas, Texas. Subject-To-Existing Mortgage programs work to help you salvage your credit. We can also help you Owner Finance or Seller Finance the property. These programs work to help release you of the responsibility of the mortgage, taxes, maintenance and insurance on the property. Get foreclosure help in Dallas, Texas.
Foreclosure Help in Dallas, Texas
Should you consider doing For Sale By Owner. I have over 1100 individual buyers on my growing list for Dallas, Texas. All these buyers have been pre-screened for stability of employment and legalization. I use local title companies in Dallas, Texas to pull all title work. They clear the tile of any liens, judgements or taxes due. These are all part of the negotiating process and can be worked out. So depending on the condition of the property and the above items. I Pay Top Dollar For Houses in Dallas, Texas.