There are a few options to stop foreclosure in Maryland. You can attempt the following strategies to avoid losing your home.
Loan Modification: If your lender is willing to work with you they may modify your loan. However sometimes what starts as a loan modification ends in foreclosure.
Short Sale: This can be a last effort to sell your home before foreclosure. A short sale is selling your house for less than what is owed on your property. This doesn’t always work and is a very lengthy process that often still results in foreclosure.
Bankruptcy: Filing for bankruptcy is one way to avoid foreclosure, although in most bankruptcies homeowners still lose their home. Although a bankruptcy will help to remove your other debt obligations, it has a more devastating effect on your life. Ultimately, a bankruptcy still results in the loss of your house.
Refinance Mortgage: If you have enough equity in your home, you may be able to refinance to a longer term with lower payments. However, if you are in pre-foreclosure your credit will be damaged and you likely won’t be approved by lenders for a mortgage refinance.
Selling Your House. Many homeowners facing foreclosure put their house on the market in hopes of selling it before losing their home completely. This can work if your house is in a high demand market and is ready to sell. However, many homeowners in financial distress find themselves in a situation where they can’t afford the repairs needed to get their home ready to sell. They also don’t have the time to wait for potential buyers to make an offer and get to closing.
Stop Foreclosure Auction
Need to sell a house that is falling apart? Selling a house as is?
We buy houses, condos, townhouses, multi-family and commercial properties in MD and nationwide USA in any situation or condition.
If your house is old or needs repairs it is often best to sell it in “as is” condition so you won’t need to make repairs and will not be held responsible for any deficiencies in the home after you sell it.
When looking to sell a house before foreclosure in poor condition, you will generally need to find a cash buyer.
Most buyers use bank financing when purchasing a home. A house in as is condition is going to struggle to get through all the inspection reports and requirements the banks require when they lend money on a property.
We can pay cash for your house in pretty much any condition! It might be fire damaged, have termite damage or active termites, foundation issues, be full of junk, have black mold, have water damage, been sitting vacant, leaking roof, no roof, you name the situation and I bet you we have seen it. Worst case scenario, if the house needs to torn down there is still value in the land!
You can leave your furniture and unwanted belongings behind when you sell your house as is. We know it can be hard to get a house totally clean, particularly if someone has lived there for awhile. The benefit of selling a house before foreclosure as is, is that you can take what you want and leave the rest of your stuff behind. No need to clean up the house or make any repairs!