We are a local house buying company and we buy houses. looking to sell your house in Savannah fast and avoid foreclosure? Understanding the foreclosure process is a must, if you wish to avoid it. We are local home buyers in Georgia and are here to help. We offer great advice, free from any obligation and can help guide you through your real estate endeavors.
Understanding and Avoiding Foreclosures
Education is key to success, and learning about a subject that may be unfamiliar can help remove fear of the unknown for those facing foreclosure. If you’re struggling with making your house payments- take steps now by understanding how foreclosures happen so they don’t catch up with us!
Being forewarned is to be forearmed, so here are four things you need to know about foreclosures in Savannah .
Foreclosures in Savannah can be tricky, but if you know what to do and when it’s best for your situation then things will go more smoothly. The first step is that we want at this point as borrower or homeowner with an impending foreclosure on their house; we need to act before anything happens legally (while still having some options left). So don’t just ignore these problems – take action now! The communication from your lender will keep coming; while it may be uncomfortable, discomfort is where growth occurs. Therefore, there is no time like the present to tackle the troubles with your mortgage payments head-on. On the other hand, if you are aware that your circumstances have permanently changed and that you will not be able to stop the procedures by catching up on your payments, you need to act. One option is to attempt to arrange new financing. Another option is to sell the home to a direct buyer like those at Spruce Home Buyers. Unlike with a traditional listing where you’re left to hope for a buyer, we offer guaranteed closing dates, typically in a matter of days.
When a homeowner misses enough payments legal action can be taken by the lender to collect the debt for the property. While you will be able to remain in the house until the foreclosure is final, at that time, if you have not yet moved to a new residence, you will face eviction proceedings. So the next thing you need to know about foreclosures in Savannah is that you now have very little time left to remain in control of what happens to your future. While no one likes to ask for help, it is time to reach out to someone experienced in dealing with properties in foreclosure. Professional investors like the experts at Spruce Home Buyers will detail every figure used to reach their offer that you will agree is fair. You can forget about all the prepping, repairs, and marketing expenses, not to mention the commissions with a traditional listing. You can start sleeping again at night because a direct sale is for your property as-is.
An important fact you need to know about foreclosures in Savannah is that they stay on your credit history for seven years. Not only will this affect the amount of interest you will pay on any credit you qualify for moving forward, but it could affect your ability to obtain housing and even some types of employment. In addition, while any remaining equity after the sale of the property at auction would still be yours, it will likely be quickly dwindling between late fees and the fact that the bank will accept the lowest appraisal value and bids that are as low as 90% of that value. Additionally, you will be responsible for the expenses of the foreclosure. Sadly, on the other hand, you may still be left owing the lender any remainder of the debt on the mortgage, known as a deficiency balance. Additionally, you will face tax consequences; when a forgiven debt is considered income. A direct sale to a professional investor like those at Spruce Home Buyers will save you from all of the costly consequences of foreclosure.
Sell My Savannah House Fast
Don’t wait! We at Spruce Home Buyers completely understand that things are sometimes out of our control and those facing foreclosure are in need of some assistance. This is why we offer cash for houses and can help to avoid the situation all together. We are local home buyers and we make the process easy and simple. Sell your house fast in Savannah.