2006-12-11 09:35:22 · 5 answers · asked by Felicia 1 in Business & Finance ➔ Renting & Real Estate
There are options but most of them are based on a knowledgeable investor. A real estate investor will help you find solutions that will keep your credit in check and that is the most important thing. If you r credit stays in good standings, you can always get another house in a year or two. Email me if you are going into foreclosure and need help.
2006-12-11 09:40:49 · answer #1 · answered by alysiallen 2 · 0⤊ 0⤋
If you go the route of dealing with a Real Estate Investor, then Yes, you can buy a new house in a year or two, or even tomorrow. The point of doing it that way is so that a foreclosure does NOT go on your credit report.
If you are in California, give me a call & I can see what I can do. I have some investors currently looking for distressed properties.
As to Janet's response, regarding going to a Broker, do NOT go to a broker. A broker is going to charge high fees & they can't always get you the best rates. Your best bet is to go to a BANKER or a Direct Lender, I am both.
Mike Noga
Chief of Staff
First Fidelity Funding
Direct: (510) 587-7338
Main: (510) 587-REFI (7334)
2006-12-11 19:21:44 · answer #2 · answered by Solstice 3 · 0⤊ 0⤋
After the foreclosure procedures have started, it is hard but not impossible to get it stopped. Primary thing that must be done is paying the appropriate monies that are due plus penalties. Once that is done, then an agreement will need to be made with the lending institution. Your loan may get redone, with higher penalties and fees and charges. Call the lender and speak with a manager in collections. Rationally explain why you are in the situation you are in, and how you plan to resolve everything. See if they are willing to meet you halfway. The worst they can say is no.
2006-12-11 17:41:41 · answer #3 · answered by Rell Smooth 3 · 0⤊ 0⤋
I seriously doubt you "can get another in a year or two". Be wary of scams.
Talk to a BROKER, not an agent, but a BROKER. It is likely that they can sell your home and call the bank off while you are doing it. Your options are to either sell the house or get caught up with what you owe the bank.
You might also call the bank. If some tragity is the reason you are in trouble they may give you a break and just let you pay interest for awhile.
2006-12-11 17:44:15 · answer #4 · answered by Landlord 7 · 0⤊ 0⤋
Why don't you sell it instead of letting the bank take it? You'll probably get more money for it than the bank is going to get and anything over what you owe to the bank is yours. It will keep a foreclosure off your credit too!
2006-12-11 17:42:19 · answer #5 · answered by wish I were 6 · 1⤊ 0⤋