How To Stop Foreclosure In Utica | Fast Cash Home Buyers
All right folks! Today we are going to talk about how to stop foreclosure in Utica. The last thing you need, or anyone needs for that matter, is to go through a foreclosure in Utica. Life throws a lot our way. Whether it is financially, or with our families, life just seems to throw a lot our way sometimes. With that said, we will talk a little about how you can stop foreclosure in Utica (hopefully before the lis pendens stage!)
Sometimes we forget that a lot of normal things can put homeowners in the situation of potential foreclosure in Utica. You may have inherited a house in Utica that has a mortgage. That may sound great in theory, but what do you
do if you already are paying on one house, and can’t afford a second? Those 2 payments combined could prove costly. Quite possibly, your employer downsized and now you don’t make as much money as you did when you initially purchased your house.
You are not a bad person for being in foreclosure. That is not the case at all. You can stop foreclosure in Utica as long as you know how, and as long as you are proactive.
Step #1 – Be Honest
This step sounds simple, mainly because it is! Be honest with your mortgage company, and let them know exactly where you stand. Call your mortgage company up immediately and let them know that you are in a serious financial situation, and that it is going to be tough for you to make your full payments for the foreseeable future. Let them know what you can do, and what you can’t do. Mainly, let them know that you are interested in stopping foreclosure on your Utica house.
Remember, banks do not make money when they own houses. They make money when you have a house, and pay the bank for it. Also remember that a foreclosure can absolutely decimate your credit, and no one wants that. Especially in a state like New York, foreclosures are incredibly costly for the bank. You would be surprised at how much they will work with you.
Step #2 – Assess Your Time Frame
Lis pendens is a written notice that a lawsuit has been filed regarding real estate. This is essentially the starting line for banks in the foreclosure process. Lis pendens, by law, starts when a homeowner is 3 full payments behind on their mortgage. If you have not missed 3 full payments, then you may still have some time on your hands.
Your goal here is to keep your mortgage company happy. If you can keep them happy by paying as much as you possibly can (regardless of your normal monthly payment), while simultaneously being honest with them, they are likely to work with you. Let them know you want to stop foreclosure in Utica. Once again, you’d be surprised at how much the bank is willing to work with you.
You may be able to get a real estate agent to help you sell your home, contingent on how much time you have. Make sure you asses your time frame wisely, as real estate agents are oftentimes not the best solution for selling your home quickly. They may not be your quickest solution to stop foreclosure in Utica.
Make sure you also check out the HomeOwnershipCenter in Utica. They have a ton of resources and can help you get assistance to stop foreclosure in Utica.
Step #3 – Sell Your House Fast in Utica to Fast Cash Home Buyers
We are the premier cash home buyers in Utica. If you have assessed your situation and have come to the conclusion that you don’t have the time to list with a real estate agent, Fast Cash Home Buyers may be your best solution. We buy houses in Utica, Syracuse, and Watertown. Give us a call today if you are looking to stop foreclosure in Utica, and sell your house fast in Utica.