Tips For Fighting Foreclosure
Posted by Katie Paulsen
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1. Work with the time you have. Foreclosure can be a long slog, which gives you enough time to come up with an alternative. If your goal is to salvage your home, keep up with payments for homeowners insurance and property taxes. Otherwise, you could get hit with an uncovered casualty loss or liability suit, or tax liens.
2. Determine the foreclosure laws in your state. What’s the timeline? Do you have “right of redemption,” essentially a grace period in which you can reverse a foreclosure? Are deficiency judgments that hold you responsible for the difference between what your home sells for and your loan’s outstanding balance allowed? For more information on Texas Foreclosure Laws.
3. Do you owe more on the house than it's worth? With today's economy, many people now owe more than their house is worth. Others have lost their jobs and are worried about how they're going to keep up with payments. A short sale could be the best option. For more information about Short Sales.
“Katie K Team”
RE/MAX Northwest
281-384-4386 cell
281-893-8400 x217 office
832-553-7792 fax
www.FreeHoustonTxHomeInfo.com
www.HoustonHomeSoldGuaranteed.com"Your Home Sold At a Price Acceptable To You Guaranteed or I Buy It For Cash!"
2. Determine the foreclosure laws in your state. What’s the timeline? Do you have “right of redemption,” essentially a grace period in which you can reverse a foreclosure? Are deficiency judgments that hold you responsible for the difference between what your home sells for and your loan’s outstanding balance allowed? For more information on Texas Foreclosure Laws.
3. Do you owe more on the house than it's worth? With today's economy, many people now owe more than their house is worth. Others have lost their jobs and are worried about how they're going to keep up with payments. A short sale could be the best option. For more information about Short Sales.
“Katie K Team”
RE/MAX Northwest
281-384-4386 cell
281-893-8400 x217 office
832-553-7792 fax
www.FreeHoustonTxHomeInfo.com
www.HoustonHomeSoldGuaranteed.com"Your Home Sold At a Price Acceptable To You Guaranteed or I Buy It For Cash!"
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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