Banks have a process for protecting their assets and will follow protocol by any means necessary, but they also have to follow legal procedures. You may have legal rights you’re unaware of. Let us fight the banks for you!
“Servicers Should Gear Up for Expected Surge in Homeowners Needing Assistance”
We have actually been preparing for a rise in foreclosures since before the pandemic even started. Coronavirus has only accelerated the rate in which banks are taking action this year. While this isn’t the same situation we had in 2008, the CFPB (Consumer Financial Protection Bureau) has issued a strong warning to all banks and mortgage servicers that a wave of issues are coming and that they should be prepared. We are experts in short sales and foreclosures, so we are well ahead of the oncoming wave of foreclosure assitance that will be needed. We have everything covered that you will need to achieve the best possible outcome for your situation including: an attorney that specializes in negotiating foreclosure resolutions with banks, residential and commercial real estate agents that are short sale/foreclosure prevention experts, lenders for mortgage options and even title experts to assist in finding any facts needed to assist us in negotiations with the banks on your behalf.
(Forbearance Ended September 30th, 2021)
We have a process that we have used to help many homeowners avoid foreclosure prior to the pandemic. We have been preparing for the wave of notices the bank is sending out. We deliver a list of options within hours of our first consultation and specialize in speediness to save you valuable time. Banks regularly charge interest and fees which means the quicker we help, the more money you save.
The timeframe really depends on when you contact us. Generally you have 120 days from when the Breach/Default and Election to Sell is filed with Clark County. In most cases, the homeowner contacts us right around the time they receive the first letter which is more than enough time to come up with a viable solution. Time is your worst enemy and the fees tend to get more expensive from the bank the longer you wait. We can’t emphasize this enough: time is of the essence!
Notice of default is the first step the bank takes to start their legal process. This is when your delinquency status is filed with Clark County and made public on goverment websites. Frequently, real estate investors will see it as an opportunity to make maximum profit by taking advantage of your situation. Rarely is selling your house to an investor for cash and quick closing date your best option. Do not be intimidated by the banks! You have time and options.
Most the times the issue with the bank can be resolved before they schedule an auction date for your home. In some rare cases, you will need to appear in court if your situation calls for it. You can consult with Jon Turner Esq, of Turner Law Firm, at no costs to you if you’re unsure of your legal options.
Do not walk away! You have options. This market has certainly gone up tremendously in value in 2021 so there’s a strong chance you have equity. We can put your home on the market so you make a profit. Walking away from a home will not only severely damage your credit, but it will take at least 5 years until you can finance another home. Time is the only way the banks will beat you and the sooner you contact us, the better we can help you.
We always offer free consultations. Depending on what route you go, there may be a cost if your situation requires extensive legal proceedings. If we believe your situation will incur any charges from our team, we promise to be upfront and transparent about the cost during our initial consultation. We’re here to help!
A short sale is when your home is worth less than the current balance. Your best option may be to let us put the home on the market and negotiate a short sale approval from your mortgage servicer or bank. A short sale is much better than having a foreclosure on your credit report. When you have a foreclosure, you must wait 5 years to finance another home while the wait time for a short sale is only 2 years. We’re experts at negotiating short sales with banks so even if you’re upside down on your home, schedule a consultation with us.