foreclosures
TRANSCRIPT
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B Y S O U T H F L O R I D A I N V E S T M E N T P R O P E R T I E S
FORECLOSURES
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WHAT TO EXPECT?
• If you know what to expect the process will seem
much less burdensome when it comes.
• Here is some quick info to help you through
the process of a foreclosure.
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STEP BY STEP
• First, when you stop making payments on your
house, expect to receive phone calls from the bank
within about 3-6 months.
• Usually they will call or send notice of failure
to make payments in an effort to contact you.
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YOU’LL NEED A NEW PLACE
• The time frame on a foreclosure is subject to how
many the bank is working on at one time.
• It could take just a few months or it could take over
a year. Sooner or later though, you will have to start
looking for a new place to live if you haven't
already.
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FORECLOSURE PROCESS STARTS
• After the bank starts the foreclosure process, you will
be given a certain amount of time to vacate your
property, usually 45 days.
• During this time there may be some paperwork to
sign. Most likely you will need to sign the title or
deed of the house over to the bank.
• You can seek the help of a lawyer at any point to
give you more clarity on the process of foreclosures.
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YOUR CREDIT
• Depending on the state you live in, a foreclosure will stay on your credit record for anywhere from 5-7 years. After that you will most likely be able to purchase a new home.
• Talk to a mortgage company if you're unsure about the laws in your state regarding foreclosures.
• There may be ways to improve your credit if you really want to take out a new loan sooner rather than later after your foreclosure. Check the laws in your state and see what you can do.
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SELL YOUR HOUSE
• At some point sometimes letting go of your house is
probably the best option you might have when
facing this type of situation.
• You will need someone who you can sell your house
quickly so you will get rid of this problem you might
be facing. Go and check out this website where
they will help you to buy your house even with cash!
Go to: http://sellyourhousefastsouthfl.com/
We Buy Any House
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THE END
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