What to do before foreclosing on a home
Before foreclosing a home, lenders must send a notice to the homeowner informing them about the same. A Notice of Default letter, which states the payment of defaulted amount, late fees etc., is sent when a homeowner fails to make mortgage payment from anywhere between three to six months. The payment of the amount stated in the letter can bring your mortgage up to date. The best way to avoid foreclosure is to pay off your dues and bring your mortgage to good standing. When homeowners fail to do so, the lenders foreclose on their home. One thing you can do to avoid foreclosure is to sell your home to a cash buyer.
At Piper Properties, we accept cash sales for almost any home. Most transactions take only about 7 days to complete, so you can quickly pay off your mortgage and avoid a negative credit rating. We help homeowners get out from property deals they can’t pay for anymore and prevent them from increasing defaulted payments under their name. Most importantly, we help them receive equity that they may have if they’ve owned the property for some time.