Stop Foreclosure and Save Your Home Today
Helping homeowners secure a brighter financial future.
Stop Foreclosure and Save Your Home Today
Helping homeowners secure a brighter financial future.
RISE Real Estate Group
Pre-Foreclosure Home Sale
Selling a home under the threat of foreclosure requires more than just traditional marketing—it demands expertise in navigating complex lender requirements while maximizing the home’s value. That’s where we excel.
Our firm specializes in pre-foreclosure real estate, offering a seamless blend of professional marketing and lender negotiations to deliver top dollar for your home. We combine the proven strategies of a conventional real estate office—expert marketing, stunning photography, and skilled buyer negotiations—with our unmatched ability to work directly with lenders to stop foreclosure proceedings.
Why Choose Us Over a Conventional Real Estate Office?
- Specialized Expertise: Unlike traditional real estate agents, we focus exclusively on pre-foreclosure properties, giving us the knowledge and experience to handle complex lender requirements.
- Direct Lender Negotiations: We work directly with your lender to halt foreclosure proceedings, ensuring you have the time and resources needed to sell your home for maximum value.
- Tailored Solutions: From professional marketing to strategic negotiations, we create a customized plan to highlight your home’s value while addressing your unique financial situation.
- Comprehensive Support: Our team guides you through every step of the process, providing clarity and peace of mind during an otherwise stressful time.
When you work with us, you gain the confidence that your home is in the hands of experts who understand is at stake. You don’t just sell your home—you sell it smart, fast, and for the best price, while avoiding the devastating impact of foreclosure. Let us help you protect your equity and secure your financial future.
Short Selling: A Better Alternative to Foreclosure
If you're facing foreclosure and owe more than your home is worth, a short sale might be the solution. A short sale allows you to sell your home for less than the mortgage balance, with the lender’s agreement to settle the debt for a reduced amount, known as a short-pay. This option helps you avoid foreclosure and severe credit damage.
How a Short Sale Works
- Lender Agreement: The homeowner and lender agree to a short-pay, where the lender accepts less than what’s owed on the mortgage.
- Our Role: When you hire us, we ensure the lender is satisfied with the short-pay and work to prevent foreclosure. In some cases, we can even secure relocation assistance from the lender for up to $10,000.
- Sale Process: We handle everything, including listing the home and negotiating with the lender, allowing you to avoid foreclosure and protect your credit.
Benefits of a Short Sale vs. Foreclosure
- Less Credit Impact: Short sales generally result in less damage to your credit than foreclosure.
- Avoid Foreclosure: Hiring us prevents the lender from moving forward with foreclosure, giving you peace of mind.
- Relocation Assistance: We can help secure relocation funds of up to $10,000 from the lender, making your move easier.
- Control Over the Sale: You can sell your home on the open market for a better price, rather than the lender auctioning it off.
When to Consider a Short Sale
- You owe more than your home is worth.
- You’re facing foreclosure and want to protect your credit.
- You want to sell the property with the lender’s agreement to a short-pay.
Next Steps:
Contact us today to see if a short sale is the right solution for you. We’ll guide you through the process, ensure lender approval, and help you move forward with up to $10,000 in relocation assistance.
Loan Modification
A Loan Modification helps make your mortgage payments more affordable and keeps you in your home by adjusting loan terms. Here’s what you need to know:
- Eligibility: You must show a loss of income or increased living expenses, have continuous income (wages, Social Security, disability, or pensions), and at least $300 in surplus income. Your surplus should not be enough to clear arrears within six months.
- Payment Reduction: Your new payment must decrease by at least 10% or $100, and the loan will be re-amortized over 30 years.
- Trial Payments: Complete a 3-month Trial Payment Plan (4 months if facing imminent default).
- Time Limits: You cannot receive a Loan Modification more than once every 24 months.
Lenders can include legal fees and foreclosure costs in your loan balance but must waive late fees. They may inspect your property to confirm there are no issues affecting payments. The interest rate will match the Market Rate based on Freddie Mac’s latest rates, rounded to the nearest 0.125%.
Lenders will also review your escrow account to ensure taxes and insurance are accurate. If you’re unemployed but your spouse earns income (even if they’re not on the mortgage), the lender may consider household income but consult legal counsel.
This information is reliable but subject to lender discretion.
Guidance on Bankruptcy & Other Options
Facing foreclosure can be emotionally overwhelming, especially during financial setbacks like job loss or injury. It's important to understand your options and make logical decisions to avoid irreversible mistakes.
Common Foreclosure Options:
- Reinstate the Loan: Pay the overdue amounts, including back payments, late fees, and possibly attorney fees, to bring the loan current. This is often the quickest way to stop foreclosure.
- Forbearance: The lender agrees to halt or delay legal action if you make arrangements to bring payments up to date.
- Loan Modification: Negotiate with your lender to modify loan terms—such as adjusting the interest rate or extending the loan period—to avoid foreclosure.
- Mortgage Refinancing: Refinancing may be difficult after foreclosure proceedings have started, especially with a damaged credit score. If you have excellent credit and a temporary setback, refinancing might be an option, but be cautious as it could come with higher costs.
- Pre-Foreclosure Home Sale: If you can't resolve your situation quickly, selling your home before foreclosure can help avoid damage to your credit. Consider selling on the open market to get top dollar. While it may take time, you could secure a better price than selling to an investor. This option allows you to stop foreclosure and protect your credit.
- Deed in Lieu of Foreclosure: Voluntarily transfer ownership of the property back to the lender. This option extinguishes the lender’s lien, but not all lenders will accept it.
- Bankruptcy: While bankruptcy can temporarily halt foreclosure, it typically only delays the inevitable. The property may still go to auction, and bankruptcy will also appear on your credit report.
- Doing Nothing: Ignoring the situation and taking no action will only worsen the problem. Failing to make decisions can lead to foreclosure and additional financial consequences.