Can I Give My House Back To The Bank in Fort Worth TX Without An Expensive Foreclosure?
Can I give my house back to the bank in Fort Worth without an expensive foreclosure?
The answer is YES! (but with caveats, read below for more details)
The consequences of foreclosure can be devastating. If you are trying to sell your house, you may be finding that it is more difficult than you had expected… especially if your house has any repairs needed that buyers just don’t want to deal with like consequences of foreclosure.
Can I Give My House Back To The Bank Without An Expensive Foreclosure in Fort Worth?
In Texas, when a homeowner misses 1-4 months of mortgage payments, the lending institution will issue a warning, notifying the homeowner to pay or lose their home. This period is known as “pre-foreclosure.” There are many ways to avoid an expensive foreclosure in Fort Worth.
Your first step if you’re trying to avoid foreclosure in Fort Worth is to speak with your loan provider immediately to examine your choices to prevent foreclosure.
You have to take action “prior” to getting too far behind on your mortgage payments in order to halt a foreclosure. You should contact your financial institution once you know you are likely to miss a mortgage payment and inform them what is going on with your financial situation.
Your mortgage company would rather work something out with you so they do not generate losses on your property rather than going through the actual foreclosure process.
You need to be open and honest with your mortgage company.
They may work something out with you that cuts down your rate of interest, which would reduce your monthly payment. In a case where you miss one or two payments but then are able to start paying once again, they can usually add those missed payments back on your home loan and consider you caught up on your mortgage. The financial institution will not accommodate you if you do not talk to them about what your situation is ahead of time is and asks for help.
Your mortgage payment or your card payments?
You’ll be able to prevent foreclosure by ensuring you consistently pay your mortgage payments prior to paying any other bills. Your mortgage is an essential monthly bill you have that must be paid. Credit cards should never take priority over your mortgage payment. You can deal with the consequences of not paying your credit cards a lot easier than you can the implications of failing to pay your mortgage.
Not paying your mortgage is the worst thing you can do with regards to your credit. Getting behind on other sorts of debt like credit cards will never harm your credit as much as getting behind on your mortgage. Not paying your mortgage could cause you difficulties with your credit card companies as well so in any case, they ought not be a priority when you have to pay your monthly dues.
But, there are some things you can do in this market to reach your goals with selling your house.
Is selling your house in Fort Worth TX a way to avoid foreclosure?
If you’re behind on mortgage payments, you’re likely to receive a “notice of default” from your mortgage lender. This document will state that you have not made mortgage payments for the last 30-120 days. It’s important not to panic. You have options that can delay or even prevent losing your home.
One way to prevent foreclosure is to try to pay your house off by putting it for sale. If you can find a buyer quickly you may be able to pay it off before the foreclosure sale.
You could probably be free from the financial hole you are in by selling your house for sufficient cash to pay the home loan off. And sometimes you may be able to have money left to start over again. This is an excellent approach to prevent foreclosure of your Fort Worth house and avoid a disaster on your credit report at the same time.
Another way to stop foreclosure in Fort Worth is to really cut your spending right down to the bare minimum. If you’re able to reduce your expenses adequately you could avoid having to sell the house you love. For anyone who is self-employed, one method of saving money would be to stop renting an office and create a workplace at home. You could also think about selling a car and having just one that you share.
You can be proactive and do something to stop your home from going into foreclosure and harming your credit and financial situation even further.
We buy Fort Worth houses and all surrounding cities and can make you a fair all-cash offer within 24 hours for a fair price. We’re not looking to list your house… we’re actually looking to Buy The House from you. We do need a small discount in order to make a profit on our end, but you won’t ever pay us any fees or commissions.
We Buy Local Fort Worth Houses… Can We Make You An Offer?
Here at TMC Property Solutions, we buy houses in Fort Worth TX and surrounding areas and we may be able to help you get out of your house situation and avoid foreclosure.
The process is really simple:
- Fill out the form here, or call us at (817) 550-5069 and we’ll make you an offer within 24 hours
- If you accept the offer we’ll get the documents drawn up and come visit you to view the house and to go over the paperwork
- We Buy Your House when you want us to (in as little as 7 days) and we close at a local title company.
TMC Property Solutions is an accredited business and A+ rated members of the Fort Worth BBB and has been offering home seller solutions and buying houses all across Dallas Fort Worth since the year 2000.
See what others have to say about us by Googling “TMC Property Solutions”.
Together, We Can Create Your Solution!