Foreclosure is one of the most difficult times you will ever have to face in life. We understand because we know firsthand of what you're going through if you're looking at this page. The first thing we will tell you is to not do what thousands of Americans do. AND THAT'S DO NOTHING! It's your LIVABLE INVESTMENT and you've worked hard for it! The quicker you take action the better chance you have to achieve a favorable outcome. Believe us things can get better quickly if you educate yourself and get the proper help.
Here are the steps of the foreclosure process:
Foreclosure process step 1: Default:
A bank can't just start the foreclose process on a home whenever it wants. Homeowners have to first default on their mortgage, failing to pay their required monthly payments. And it's rare for lenders to begin the foreclosure process after just one late mortgage payment.
They will usually give the borrower a grace period because they recognize the reality that people face temporary financial hardship at some point in their lives. That said, banks want their money, so borrowers can expect an influx of emails, letters, and phone calls from their lender or bank trying to collect.
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Foreclosure process step 2: Notice of default:
If a borrower can't come up with the funds to pay what he or she owes, a lender will issue a notice of default. This form will be sent to the mortgagee in the mail via a certified letter, and it typically gives a homeowner 90 days to pay off the most recent bill.
This step marks the beginning of the formal and public foreclosure process.
There's still time to save your home after a notice of default—if you can find the cash. One option is a mortgage reinstatement, whereby you “reinstate” your mortgage by making up all the missed payments at once, plus interest and lender fees. You'll then go back to paying your monthly bill as usual.
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Foreclosure process step 3: Notice of sale:
If the homeowner hasn't come up with the money within 90 days of the notice of default, the lender may proceed with the foreclosure process. Next comes a notice of sale, which will state that the trustee (the lender) will sell the home at auction within 21 days.
A notice of sale is also sent via certified letter to the homeowner, but it also must be published weekly in a newspaper in the county where the home is located for three consecutive weeks before the auction date. This helps get the word out to potential buyers, but even at this late date, the option to reinstate your mortgage is still possible up until five days before the sale, so long as you can come up with the money.
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Foreclosure process step 4: Auction:
The home will be sold at a public auction to the highest bidder, who will have to pay the full amount of the bid immediately. This buyer will receive a trustee's deed once the sale is complete, at which point he/she becomes the official owner.
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We can offer cash for your home, save your credit, stop foreclosure, and get the lenders off your back today!
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Livable Investments LLC is not associated with or approved by the government or your lender. You should always get your own independent tax and legal advice in any real estate transaction.
Here are the steps of the foreclosure process:
Foreclosure process step 1: Default:
A bank can't just start the foreclose process on a home whenever it wants. Homeowners have to first default on their mortgage, failing to pay their required monthly payments. And it's rare for lenders to begin the foreclosure process after just one late mortgage payment.
They will usually give the borrower a grace period because they recognize the reality that people face temporary financial hardship at some point in their lives. That said, banks want their money, so borrowers can expect an influx of emails, letters, and phone calls from their lender or bank trying to collect.
------------------------------------------------------------------------------------------------------------------------
Foreclosure process step 2: Notice of default:
If a borrower can't come up with the funds to pay what he or she owes, a lender will issue a notice of default. This form will be sent to the mortgagee in the mail via a certified letter, and it typically gives a homeowner 90 days to pay off the most recent bill.
This step marks the beginning of the formal and public foreclosure process.
There's still time to save your home after a notice of default—if you can find the cash. One option is a mortgage reinstatement, whereby you “reinstate” your mortgage by making up all the missed payments at once, plus interest and lender fees. You'll then go back to paying your monthly bill as usual.
------------------------------------------------------------------------------------------------------------------------
Foreclosure process step 3: Notice of sale:
If the homeowner hasn't come up with the money within 90 days of the notice of default, the lender may proceed with the foreclosure process. Next comes a notice of sale, which will state that the trustee (the lender) will sell the home at auction within 21 days.
A notice of sale is also sent via certified letter to the homeowner, but it also must be published weekly in a newspaper in the county where the home is located for three consecutive weeks before the auction date. This helps get the word out to potential buyers, but even at this late date, the option to reinstate your mortgage is still possible up until five days before the sale, so long as you can come up with the money.
------------------------------------------------------------------------------------------------------------------------
Foreclosure process step 4: Auction:
The home will be sold at a public auction to the highest bidder, who will have to pay the full amount of the bid immediately. This buyer will receive a trustee's deed once the sale is complete, at which point he/she becomes the official owner.
------------------------------------------------------------------------------------------------------------------------
We can offer cash for your home, save your credit, stop foreclosure, and get the lenders off your back today!
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- No Pressure
- Cash Offer
- No Fees
- Fast Sale
- As Is, No Repairs Required
- No Traffic Through Your Home
- We Clean & Haul After You Move
- Close When You're Ready
- Cash Offers!
- You Are Not Obligated to Accept Our Offer
Livable Investments LLC is not associated with or approved by the government or your lender. You should always get your own independent tax and legal advice in any real estate transaction.
