PAYING CASH FOR HOUSES AND LAND
Home|Seller Request|Investor Request|Lenders Form|Affiliate Program|Contact
 
Contact Information
Are you
The owner?		 Owner’s
Full Name:
Contact
Telephone:		 Alt
Telephone:
E-Mail
Address:		 Fax:
Property
Address:		 City:
State: Zip:
# of
Bed/Baths?:		 Total Loan
Amount?:
How Long
Owned?:		    
   
 
  • Facing Foreclosure or in a pre-forclosure and want to save your credit
  • More than 2 payments behind on your mortgage
  • Have multiple mortgages on your property
  • Want to avoid the time-consuming hassle of listing your house with a realtor
  • Going through a divorce
  • Relocating or job transfer
  • Going through an estate settlement or probate
  • House is too run down to put on the market
  • House has been on the market for too long and you want to sell NOW.
  • Need cash in a hurry .
  • Need help staying in your home?
  • Need help finding a home after you sell?
SELLER REQUEST FORM
 
 

Behind on Your Payments in Litchfield Park, Arizona?

Have you fallen behind on your mortgage payments? Are you facing foreclosure? The prospect of a foreclosure can be a frightening situation. While the risk of losing your home is unwelcome, the end impact on your credit report can be even more damaging. Over 3.5% of the population in Arizona fell behind on their mortgage payments during 2007. This means that residents of Litchfield Park, Arizona were equally vulnerable to the prospect of a delinquent mortgage.

What do you do if you fall behind on your payments? There are several possible solutions but they often depend on your situation. One possible resolution of your delinquent mortgage is a deed in lieu of foreclosure.

In a deed in lieu of foreclosure you voluntarily transfer your property title to your lender. Your lender then cancels the remainder of your debt. Obviously, you lose your home in the process. But you are stopping foreclosure and the deed transfer is less damaging to your credit report.

There are, however, a couple of problems with a deed in lieu of foreclosure. You will lose equity in your home. For example, let’s say you owe your lender $335,000.00 on the mortgage note. And you have fallen behind almost $15,000.00 in your payments. However, if you sold your house on the market you may be able to get $375,000.00 for it. That is you could walk away with $40,000.00 in equity. Of course, this does not include the expenses involved in selling your home. However, even if you walk away with $5,000.00 you walk away in the positive. With a deed in lieu of foreclosure you are signing away your house to the lender and the $40,000.00 in equity will vanish.

Also, with a deed in lieu of foreclosure you may have a tax liability on the amount of debt forgiven. This alone may be a detractor from seeking this option. Additionally, a deed in lieu of foreclosure may not be an option if your property is the security for other debts. For instance, if you have a car, boat, personal loan etc. that is secured by your home then you will not be able to qualify for a deed in lieu of foreclosure.

If you are facing foreclosure because you are behind in your mortgage payments, there are options for getting you back on track with your payments. However, if you are excessively behind in your payments (4 months or more) and you are looking to protect your credit then selling your home is probably the best option for you.

If you are looking to sell your home, contact (480)777-CASH or go to: www.payingcashforhouses.com. We pay cash for houses and land and can help you stop foreclosure of your home. Since we buy and sell homes and land in Maricopa County and all of Arizona, we can help you today.

If you are looking to sell, call today at (480)777-CASH. Let us help you.

 
 
 
   
Copyright © 2007 PayingCashForHouse.com, All rights reserved.