Is your Taylorsville home currently in foreclosure? Don’t worry, although you’d rather not experience this, it’s a common thing that happens to the best of us. If you have a property in Taylorsville going through the foreclosure process, you’ve come to the right page. We’re here to provide you with the basic information you need to know to get through this difficult time.
Having your home foreclosed is scary and can seriously impact your credit score. When your credit score takes a hit, you can expect to have problems with your ability to get new housing, credit, and maybe even potential employment, for many years.
If your home is going through foreclosure in Taylorsville, this article is for you. Read on to learn some of the many ways you can get out of foreclosure Taylorsville.
What Is Foreclosure?
By selling the property or seizing control of it, a lender might use foreclosure to recover the funds owing on a defaulted loan. The procedures, deadlines, and laws governing foreclosures differ between states and mortgage lenders. According to HUD, three to six months after your first missing mortgage payment, mortgage companies will usually begin the foreclosure process.
Taking possession of and selling the mortgaged property is usually how a lender legally attempts to recover the money owing on a defaulted loan. Usually, a borrower enters into default when they fall behind on a pre-determined amount of payments each month, but it is also possible when they violate other conditions outlined in the mortgage instrument.
When a mortgage lender uses its right to sell a property whose owner has not kept up payments, the Taylorsville home will be foreclosed upon. Before selling the property, the lender provides the homeowner some time to make payments or other arrangements.
The property will thereafter be sold at a sheriff’s sale by the lender. The homeowner has four weeks following the publication of the notice of the sheriff’s sale to sell the property, refinance it, make all past-due payments on the property, talk to the lender about modifying the loan, or file for bankruptcy.
Talk or Negotiate With Your Taylorsville LenderAs soon as you realize you need more time to make up missed payments, you must contact your lender. When you start to get behind on your mortgage payments, the last thing you want to do is ignore the lender. When it comes to foreclosures, many lenders are really more than willing to collaborate with their clients to find a solution. This is due to the fact that they would rather receive some debt payments than none at all. When you chat with your lender, find out whether they are willing to make any changes to your loan.
Sell to a Professional Home Buyer
However, if you’d rather not go through the long, arduous process of selling your property in as-is condition, you can always choose to sell your property to a professional home buyer. If you want a smooth, risk-free transaction with a sure buyer, transacting with a professional home buyer is the best option for you. Professional home buyers have the financial capability to buy your property in cash, which is great news if you need the money ASAP. Additionally, transacting with professional home buyers means the chances of the deal falling through is slim to none.
If you’re interested in selling your house fast in Taylorsville, look no further than Rylo Homes. We buy houses in Taylorsville, KY regardless of the condition, so you don’t have to worry about your property not matching up to the other homes for sale on the market. Sell your home to us today and walk away with cash after a quick, painless close.
NEED TO LEARN MORE?
Sell your house to professional home buyers like us here at Rylo Homes. We buy houses in Taylorsville, KY, and we will personally guide you through the entire home selling process. We can provide you with the best price for your home while still ensuring a quick close so you can sell your property in pre-foreclosure ASAP.
If you don’t want to worry about selling your home the traditional way, just sell your home to us! We’ll take care of the rest. You can just walk away with cash without the headache of dealing with real estate paperwork. We are cash home buyers in Taylorsville, KY, and we are interested in buying your home regardless of the condition and situation it is in. So if you simply want to sell your home fast, you can always choose to sell to a cash home buyer.
Our goal at Rylo Homes is to improve the overall quality of housing for the residents at Taylorsville, KY. We buy houses in just about any condition and situation, including foreclosure, late mortgage payments, or fair market value. When you choose to sell to us, you don’t have to wait weeks and months just to get good offers. We’re direct buyers and we pay in cash to arrange a quick close. For more information about our home buying process, give us a call at (502) 317-8553 today.