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There is no shortage of homes in America facing foreclosure. It is imperative for both mortgage holders and buyers to understand what this process entails.
What Does Pre-Foreclosure Involve?
A lot of American homeowners are having trouble making their mortgage payments each month – particularly in El Paso.
When homeowners miss as many as three mortgage payments, lending institutions will likely issue warnings to the homeowner. This period of time is called “pre-foreclosure.”
Mortgage lenders and banks generally offer a few months for homeowners to get caught up. Mind you, this period will vary per bank, as well as each person’s personal circumstances.
When homeowners aren’t able to make payments they are responsible for, a financial institution will end up foreclosing the property, assume ownership, then have the homeowner evicted. Fortunately, at this particular stage, mortgage holders have a chance to capitalize on a number of different options in order to save their homes.
How We Help Residents of El Paso Facing Pre-Foreclosure
- A potential short sale may be on the table – give us information about your circumstances and let us assess your situation, then determine if we are able to help you.
- We can purchase your house – our company purchases homes in the city of El Paso all the time. We can give you an offer in cash for your property. To begin, fill out this form.
- If you have any questions, feel free to ask us about them – we will offer you guidance for free, as well as several resources that can help you make a calculated choice. You won’t be under any obligations or pressure. No catches are involved with our free guidance.