I Need Help With My Foreclosure

Personally, I get nervous about almost anything large that I buy. Houses, in particular, tend to make most people nervous. However, most people, when they are searching for their dream homes, are quick to jump to action. They rush around, getting pre-approved for mortgages and looking at homes. They sign the dotted line on the mortgage and move in to their new home as fast as they can, decorating and renovating along the way. Often, new homeowners have no idea that they could soon lose their home if they aren’t careful. After a few months of mounting bills, you may start asking yourself, “Why did I buy?” House mortgages are a huge responsibility, and if you find that the pressure is too great, don’t worry—there is help.

If you purchase a home using a mortgage, as many of us have to in lieu of having a huge amount of ready cash in the bank, you are not only putting your credit on the line, you are putting your new home on the line as well. Why is it that new home owners are so quick to purchase, but are very slow to say “I need help with my foreclosure issues”, until it is too late?

Foreclosure is a very scary thing to a home owner. It means that your beautiful home can be taken away from you in a heartbeat. It means that the good credit you had going into the deal will be so bad that you possibly may not get another home loan. Most of the time, people who are facing foreclosure freeze up like a deer in the headlights of a car, when, at that point, saying, “I need help with my foreclosure” is a moot point. The truth is, though, that the best way to stop a foreclosure in its tracks is by doing something immediately.

“I need help with my foreclosure,” is one thing that most first-time homebuyers have a difficult time saying. The words get stuck in their throat as if they have failed. The truth is that they have not failed. Things happen that can not be predicted, and you might end up missing a few mortgage payments. Even missing just one mortgage payment can be difficult to catch up on.

There is a solution, even if you have gone so far down the foreclosure road that the mortgage company is unwilling, or unable, to work with you. You may have seen one of any of dozens of ads stating, “I buy houses.” These are investors that purchase homes and resell them, often at a much higher level. Some of these investors are only looking out for themselves. They do not care how much you loved your home, or what you have gone through to keep it. “I buy house mortgages” is another thing you may have seen. These are investors who purchase the mortgage from the original seller, only to turn around and charge you insane amounts in order for you to keep your home.

You can, however, find real estate investors who will care about you and your situation. Often, selling your house quickly and efficiently is the only way to get out of a foreclosure situation with both your dignity, and your credit, intact. The trick is to look at all of the investors who claim, “I buy houses”, and ask them exactly what they can do for you. Some home investors are even able to give you some money from the equity you have already built in your home, which will allow you to have a starting point for your next home purchase.

John Panico is the author of this article. John is an active investor of properties throughout NE Georgia. He is the General Manager of Local Guys Equities, LLC, one of the fastest growing real estate investment companies in Georgia. John founded the NE GA Real Estate Buying & Investing Group and wholesales properties to real estate investors around the country. Feel free to contact John about selling your house or other information.