Home foreclosure is a legal process that no homeowner ever wants to go through. However, things don’t always go as you plan, and there might come a time when you find it difficult to pay off your mortgages, putting yourself and your family at risk of foreclosure.
It is then when you need to ask the most important question — is there a way to stop foreclosure and save my home? For most people, foreclosure is unfamiliar and intimidating, and the prospect of avoiding it becomes a challenge in itself.
In such a case, the quickest and most effective solution is to sell your property for cash. If you are on the verge of losing your Plano home in a foreclosure, here’s what you can do to salvage your property.
How Can You Stop Foreclosure in Texas?
1. Place Your House on the Market and Wait It Out
In Texas, you can only be served with a foreclosure notice after you have stopped paying mortgages for 120 days. Once you have received the notice, the process of foreclosure happens very quickly. It is easy to lose hope and feel like nothing can be done, but ignoring the problem and avoiding taking any actions will only result in you losing your home.
2. Hire an Attorney
If you want professional help, you can consider hiring a foreclosure attorney. However, that may cost you a hefty amount of money. This is because court procedures vary from case to case, which makes the process quite difficult to understand and handle, even for the most seasoned attorneys.
3. File for Bankruptcy
By filing for bankruptcy, you can stop foreclosure debt in its tracks. Still, going for this option does not always mean you have a permanent solution. Since federal law prohibits any collection of debts during this period, your lender will not be able to go further with the foreclosure process. This can buy you more time to recover financially.
4. Sell Fast, Save Your Credit and Put Cash in Your Pocket
A convenient and wise way to avoid foreclosure is to sell your house for cash. There are three things you need to keep in mind to sell your home quickly — pricing, marketing and condition. Don’t try to salvage the equity of your home by holding out for the highest bid. Instead, go for a price that seems reasonable to you. Also, make sure to price your home fairly and market it aggressively. If needed, take help from a professional who will inform you about the latest market trends.
What Are the Benefits of Selling Home Quickly for Cash?
If you are planning to sell your home for cash, here are a few benefits you will get:
- It protects your credit as well as prevents foreclosure.
- It saves you the legal cost and the hassle of going through a foreclosure procedure.
- It gives you complete control over your property and peace of mind.
Remember, just selling your property is not enough. You need to sell it quickly as well to avoid foreclosure. This is where the experts come in! At D&R Home Solutions, Inc., we buy homes in any condition and even close it quickly.
Alongside evaluating your property at no cost, our team also considers the location, the market value and the total cost of repairs to offer a fair price for your house. Count on us to provide a quality, seamless service!
Want to sell your pre-foreclosures home for cash? We can help you get the right price! Call our experts at D&R Home Solutions, Inc. at (214) 494-6222 today!
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