House in default close to Foreclosure

What is the name of your state? Texas

Have a house that I have been trying to sell for two months. The house is currently several months past due(due to divorce and spouse not paying the mortgage even though she has been living in the house) and the finance company is ready to start with legal action (Foreclosure).

I have heard of companies or banks that will purchase homes from people, but there will just be no profit made from it. Is this accruate?

If so does anyone know of any company or bank in the Dallas,Texas that I could contact. Any help will be greatly appreciated.

Originally Posted by ypierson@hotmai

What is the name of your state? Texas

Have a house that I have been trying to sell for two months. The house is currently several months past due(due to divorce and spouse not paying the mortgage even though she has been living in the house) and the finance company is ready to start with legal action (Foreclosure).

I have heard of companies or banks that will purchase homes from people, but there will just be no profit made from it. Is this accruate?

If so does anyone know of any company or bank in the Dallas,Texas that I could contact. Any help will be greatly appreciated.

Yes, what you are talking about does happen. It happens when the bank accepts what is called a short sale. This allows you to sell your home for less than what is owed and stop the foreclosure.

The first thing that you need to do is to contact your lender and ask to speak with the loss mitigation department. Once you are there you need to ask for a short sale package. Unfortunately, all lenders have different packages so it is best to get one straight from the lender. Once you have this package go ahead and gather all of the information that is requested.


My company is based in Colorado however I have business associates in other parts of the country that I can refer you to once you have the short sale package. What my company does is depending on the homeowners situation we either work out a forebarence, loan modifiaction or assist the homeowner in getting the property sold, often with the use of a Short Sale.

Good Luck
Stefanie Blackburn
[url]www.wanthouse.net[/url]
[email]foreclosurehelp@wanthouse.net[/email]

Originally Posted by Ciarraine

Or you could work with this shark.

I am sorry that you feel I am a shark. That is not the case.

The fact that he has been trying to sell his home and wants to indicates to me that a good option is to contact the bank and ask for a short sale package. If he wanted to keep his home, then definately there are other options such as getting a forebarence plan or a loan modification plan in place.

In my opinion if you are trying to sell your home and can't due to it being overleveraged and you are possibly facing foreclosure then working with the bank to get them to accept a short sale is a good option. A short sale won't impact your credit like a foreclosure or a Chapter 7 or 13 will.

Best of Luck

[HomeGuru]

Originally Posted by foreclosurehelp

Yes, what you are talking about does happen. It happens when the bank accepts what is called a short sale. This allows you to sell your home for less than what is owed and stop the foreclosure.

The first thing that you need to do is to contact your lender and ask to speak with the loss mitigation department. Once you are there you need to ask for a short sale package. Unfortunately, all lenders have different packages so it is best to get one straight from the lender. Once you have this package go ahead and gather all of the information that is requested.


My company is based in Colorado however I have business associates in other parts of the country that I can refer you to once you have the short sale package. What my company does is depending on the homeowners situation we either work out a forebarence, loan modifiaction or assist the homeowner in getting the property sold, often with the use of a Short Sale.

Good Luck
Stefanie Blackburn
[url]www.wanthouse.net[/url]
[email]foreclosurehelp@wanthouse.net[/email]

**A: the last time I checked, your company has paid no advertising fee to promote your company on this website.