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Author Topic: My friend's house facing Foreclosure!  (Read 12389 times)

Offline dannyspastics

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My friend's house facing Foreclosure!
« on: January 11, 2016, 10:59:29 pm »
Hi.. My friend has facing Foreclosure. so that i want to know is there any other option? he don't want to sell his house. Thanks in advance. :biggrin
Innovative Estates | Sell Your House Fast DC, MD, VA
http://www.sellmydcmetrohouse.com

Offline REI_SOLUTION_SPECIALIST

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Re: My friend's house facing Foreclosure!
« Reply #1 on: January 12, 2016, 11:59:05 pm »
Your definitely has options, but it does depend how far along in the Foreclosure process your friend is in.
« Last Edit: January 13, 2016, 04:54:09 am by Mdhaas »

Offline Bill H

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Re: My friend's house facing Foreclosure!
« Reply #2 on: January 13, 2016, 03:42:39 pm »
The number one thing that most in foreclosure do is "STOP talking to the lender."  And that is the worst thing you can do.  Tell him, if not too late, to establish a relationship with his lender and discuss things that the lender may be able to do.  They can possible add it to the mortgage, decrease his payments, give him the opportunity for a  short sale, etc.....BUT,,,,,can do nothing if he does not talk to them

GOOD LUCK.

Offline dannyspastics

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Re: My friend's house facing Foreclosure!
« Reply #3 on: January 18, 2016, 12:18:10 am »
Thanks guys for your respond. i thought selling a house can be a best option to get rid of this problem but we found someone(Innovative Estates) who will help us. we will try a other option for a once.
Innovative Estates | Sell Your House Fast DC, MD, VA
http://www.sellmydcmetrohouse.com

Offline heartlandbuyshouses

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Re: My friend's house facing Foreclosure!
« Reply #4 on: April 17, 2017, 11:41:27 pm »
As soon as possible, tell your friend to contact his lender and try to negotiate an agreement to amend his mortgage so that the foreclosure can be stopped before going to completion. Typically these are options the lender suggests:

-Load Modification.
-Federal Housing Administration Loans
-File Bankruptcy
-Forbearance
Don Wede
Heartland Funding Inc.
www.heartlandbuyshouses.com

marksmith

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Re: My friend's house facing Foreclosure!
« Reply #5 on: April 19, 2017, 12:42:17 pm »
Hi,
I think, hiring an experienced foreclosure agent is a good option for you to avoid foreclosure.
Thanks!!

Offline Mdhaas

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Re: My friend's house facing Foreclosure!
« Reply #6 on: April 19, 2017, 02:40:06 pm »
What state is the property located in?

This entity, located in Ohio, has a great reputation.  http://ohiohome.org/savethedream/
If at first you don't succeed.....................skydiving is not for you

Offline caroline

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Re: My friend's house facing Foreclosure!
« Reply #7 on: May 08, 2017, 12:09:09 am »
Hi dannyspastics,
Here are some options to avoid foreclosure that would let you stay in your house:-
Refinancing
Loan modification
Repayment loan
Forbearance
Thanks!!

Offline SolutionHomBuyers

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Re: My friend's house facing Foreclosure!
« Reply #8 on: May 23, 2017, 08:10:02 pm »
What is the reason your friend is in foreclosure?  You have get to the underlying cause before you can solve the foreclosure issue.  If it's loss of job or income, does he have any prospects the changing that or increasing his income in the near future.  If the underlying circumstances don't change, then you can only hold off the foreclosure proceedings for so long.

homesteadroad

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Re: My friend's house facing Foreclosure!
« Reply #9 on: September 27, 2017, 07:16:22 am »
If you want to avoid foreclosure, you will have to sell your home quickly. This can be done in a few different ways. Finding the right agent to sell your home is essential as this will greatly increase your chances of a quick sale.

It is also possible sometimes to find another buyer to take over your payments. This is known as assuming your loan and can lead to a very quick sale in certain circumstances.

Offline Gary Parker

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Re: My friend's house facing Foreclosure!
« Reply #10 on: October 02, 2017, 01:32:23 pm »
One can stop foreclosure many ways; however, the best advice on this thread, in my opinion, is to have your friend contact their bank.   And as mentioned by someone else, your friend's reason for not being able to make his house payments is a huge factor with the bank.  If he has got past his hardship, most banks will work with him, but he has to call the bank...now. :)  IF the bank will not work with him, a CH 13 bankruptcy will stop his foreclosure at least temporarily. 
Happy Investing
Gary

 




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