If a person has financial problems and faces potential foreclosure but still owns their home, why do they waste what little they have on fixing it or borrowing more money to push them further into debt? They can call people like theforeclosurehelpline.com and get some money from the sale of their house to start fresh.
2007-02-02 09:23:48 · 7 answers · asked by Rothwyn 4 in Business & Finance ➔ Renting & Real Estate
They keep thinking that someone will step forward and buy their home. They usually do put it on the market and try to sell it. but they only have 4 months. That often isn't enough time. Once they get to the end and realize that they are going to in fact loose their home, they become suspicious of everyone who contacts them. Rightfully so in some cases. I approach many and offer to buy their home just to keep it out of foreclosure and keep them from having that blem on their credit. But they are thinking something shady is going on. So they don't accept the cash out offers they do get at the end. The offers at that point don't give them cash in their pocket. Just paying the back fees on the loan and taking over payments is all that anyone with money will offer at that point, so the sellers aren't too motivated to "give" their house away. Later some of them may wish they had, but it's too late then.
That is just one of those things in life that you learn the hard way.
2007-02-02 09:43:27 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Some do short sales and there's a good amout of investors making money that way. But there are some potential problems such as market demand that get in the way of selling the house. If there's not enough people buying the houses, you can get in some serious trouble which essentially leads to foreclosure.
2007-02-05 11:35:41 · answer #2 · answered by John Rosa 3 · 0⤊ 0⤋
Most people when they reach a point that they have lost everything and almos lost their house, get so depressed just lose all hope. I am a mortgage broker and when most people contact me it is just simply too late and not enough time to assist them.
Also most people when they lose everything pay the house and not the other bills, so their credit goes so far below a level that any lender will lend money.
2007-02-02 17:35:17 · answer #3 · answered by roybfizbo 2 · 1⤊ 0⤋
It ain't easy until you in that position you ain't got no idea. You can't sell your homes as is most times because there are problems with it. our basement leaked our carpet was old the front and back yard was crap there was a sinkhole in the drive. So i suggest until you know what you're talking about STFU.
2007-02-02 17:31:29 · answer #4 · answered by Gen 4 · 2⤊ 1⤋
THEY WANT TO GET MONEY THEY RAISE THE PRISECES AND TRY TO GET A BIGGER AND BETTER TO MAKE IT SEEM LIKE THEY R RICH BUT Y PPL AINT WORRIN BOUT HOW MUCH MONEY U GOTS (GOSH)
2007-02-05 18:02:31 · answer #5 · answered by dayday 1 · 0⤊ 0⤋
My mother tried to sell her home and she couldn't get anyone to buy it.
2007-02-02 18:42:51 · answer #6 · answered by existingtobe 3 · 1⤊ 0⤋
some do!
2007-02-02 17:45:09 · answer #7 · answered by elizabeth_davis28 6 · 0⤊ 0⤋