$#!+ Happens…
Sometimes in life, things happen that alter our otherwise perfect plans. What starts out as an idyllic scenario can unfortunately become a hellish experience, and one that was completely unexpected. This can be due to the dissolution of a marriage or partnership, a family dispute that turns nasty, a job that becomes unbearable or something completely different. When we make a decision to buy a house, it’s a huge investment that takes a lot of planning and saving. It is truly something not many of us take lightly, and requires a lot of forethought. So when things go wrong, it’s a big deal. No one wants to get behind on their mortgage payments. But sometimes, it can’t be helped. Before you know it, it seems, you’re getting threatened with foreclosure.
What Foreclosure Is
First of all, you typically must be behind in your payments for 120 days, or 4 months, before any kind of foreclosure proceeding can even start to happen. Every state has different laws, but in Nevada there are both judicial and non-judicial types. Most, however, are of the non-judicial variety, which means they can be done without having to go to court. Here is a general outline of what a foreclosure is: “If you purchased your home in Nevada, your home loan is most likely subject to the terms of a “deed of trust.” Under the terms of the deed of trust (which you signed when you obtained the home loan), the trustee holds a “power of sale” in the event that you default. You are given an opportunity to cure by catching up on the payments and paying the late fees. But once you go into default and stay in default, the lender can foreclose, sell your home, and evict you.”
When The $#!+ Hits The Fan…
OK, so let’s say you’ve gotten behind the 120 days, and your lender is starting foreclosure proceedings. Don’t worry, you still have ample time to figure out what you’re going to do. During this time, you will receive information on alternatives to foreclosure, including a summary of your overdue account. The summary will include the amount necessary to cure the default and make it current, the total amount left on the loan, the date of your last payment, etc. Some other things need to happen as well, to make the whole process legal. Throughout the entire process, practically up until the actual date of the sale, you have time to take control of the situation in whatever form you decide.
Legal Processes
Before any thought of getting you out of your home can occur, you must have been delivered by certified or registered mail a Notice of Default and Election to Sell. A copy of this also must have been posted on the property itself, as well as recorded with the Clark County Recorder. In addition, you must also be sent by certified or registered mail a notice from Home Means Nevada, with information on your right to petition the court for foreclosure mediation assistance. If you choose not to participate in this offer of help for a solution, or by not responding in a certain amount of time, waive these rights, Home Means Nevada will issue a Certificate of Foreclosure, 60-90 days after the service of your Notice of Default. As you can see, there is a lot of time in between these things to give you a chance to work it out.
Taking Control And Selling Your House
The answer to the original question of can I sell my house before foreclosure, the answer is a resounding YES, absolutely you can. As previously stated, practically all up until the actual date of sale, you can take control of your situation and sell your house yourself. In this situation, working with a professional cash home buyer like Sellyourhousefastlv is a smart choice. In fact, foreclosures are one of the most common reasons people utilize the services these companies provide. This is because they buy houses quickly and as-is, meaning that much less for you to worry about. They know the legal ins and outs of the entire process, and can help you handle everything without total financial ruin as part of the procedure.
Working With A Cash Home Buyer
There are many advantages to using a cash home buyer in this situation. For instance, the people at Sellyourhousefastlv are not just interested in turning a profit. They truly care about their clients, and have integrity of character. When you find yourself in a jam like this, the last thing you need is a company that is going to take advantage of your situation. What you need is someone who totally understands it, and wants to help you get what you need from it. Sellyourhousefastlv is a reputable business with a good name you can trust. Their goal is to help you get enough to pay off what you owe, and possibly put some money in your pocket for a new start. Although this isn’t always possible, they can at least get you enough so that you can avoid completely ruining your credit with a foreclosure, and an untold amount of remaining debt to pay.
In Conclusion
If you know your situation is beyond salvaging as far as being able to refinance or modify your mortgage loan, and you know you’re eventually going to lose your house, contact the people at Sellyourhousefastlv. Take control of your situation and get the most out of the sale of your home. After all, most likely you have a considerable amount of money invested in your home, not to mention blood, sweat and tears. Why should you trust some impartial stranger to manage its liquidation, just because you committed the “ultimate sin” of getting behind in your payments? You likely worked hard to get it in the first place, and did so with the best of intentions. Things don’t always turn out the way we first envision they will. When $#!+ happens and you’re having foreclosure trouble, contact the folks at Sellyourhousefastlv.
