Stop Foreclosure At All Cost In Hattiesburg Mississippi! – Your Options To Avoid Foreclosure
If you’re behind on your payments and facing a foreclosure experts advise “ACT QUICKLY AND DON’T HESITATE ANOTHER MINUTE!” In Mississippi that’s really sound advice because once a lender decides to foreclose on your property it only takes them about 30 days to take your home. By law they can do it in 21 days. That doesn’t leave you much time at all. So in Mississippi you must ACT NOW or your home will be foreclosed on quickly and that foreclosure will negatively affect your credit rating for 10 years! Mortgage and credit experts say that after bankruptcy having a foreclosure on your credit report is the worst result and will reduce your credit score by over 250 points. You could also have to wait up to three years to qualify for a mortgage at a reasonable rate.
Life can be really challenging and there are many situations that cause good hardworking families to go into foreclosure such as health problems family death rising mortgage payments loss of job divorce medical bills to name a few. Prior to our current financial and credit crisis the number one cause of foreclosures was health and medical problems.
Who We Are. MSHomeSolutions is a real estate investment and solutions company that specializes in working with families who are facing foreclosure. We work closely with homeowners like you to understand your situation and determine what options best fit your needs. We have experience and expertise solving difficult problems and we have helped many home owners who were in similar situations. In those cases where a homeowner wants to “SAVE MY HOME” and is financially capable we can work with the lender to negotiate an acceptable plan. In those cases where a homeowner is not financially capable of keeping their home or just wants to sell their home we can buy your home fast either outright or working with the lender to complete a short sale take over the loan even if there’s no equity make up back payments or come up with some other creative solution including possibly giving you equity back out of your home. We serve Hattiesburg and the surrounding areas of Forrest and Lamar counties including Petal Oak Grove Purvis Sumrall and many other areas throughout Mississippi.
If you are in a difficult situation now and are falling behind on your mortgage payments and need help you can complete our Home Questionnaire and we would be happy to let you know what your options are. There’s no obligation or cost.
Whether your house is going to be auctioned off in a few days or you just received your first notice from your lender it is important for you to consider all your options and rights. For your help and convenience we have provided a summary of some of your options below.
Reinstatement Plan.
A reinstatement of your existing mortgage is to simply pay back the total amount your loan is behind by paying all of your back payments which may include monthly principal and interest late fees and attorney fees to bring your loan current. By proving to your lender your ability to make up your back payments in one lump sum your lender will usually reinstate the loan. Some possible sources of reinstatement money are retirement accounts income tax returns and close family members. NOTE: In situations where a homeowner comes up with the money to reinstate their loan but nothing changes in the financial hardship that caused them to get behind in the first place the homeowner is usually back in foreclosure within 6 months.
Workout Plan.
Your lender may consider a workout or repayment plan if you had a short term hardship that led to your financial difficulty. Basically a workout plan lets you pay back the amount you’re behind usually over 1224 months plus your regular monthly payment. The lender will want you to pay some amount of your back payments upfront usually about 2550 of your total back payments. NOTE: Consider this option only if you can afford to pay more than your monthly mortgage payment have upfront money to pay the 2550 of your back payments now and your financial hardship is short term. Beware if you are trying to negotiate your own workout plan. Our experience is that lenders are notorious for signing homeowners up to workout plans that put the homeowner into a worse financial situation that before and the homeowner is quickly back into foreclosure and out their upfront money.
Loan Modification.
In some cases a lender will allow you to restructure your loan which will stop the foreclosure process. A typical loan modification will add your back payments to the principal of the new loan. Loan modifications usually change your current interest rate and loan term so you can now afford the new monthly mortgage payment based on your new financial situation. NOTE: In most cases you must qualify for a loan modification just like a new loan. Lenders are currently under pressure to perform more loan modifications to help homeowners avoid foreclosure today but many lenders are telling homeowners that they don’t do them. It takes good negotiation skills to get a lender to do a loan modification and to negotiate terms that actually help the homeowner out of their financial difficulty.
Refinance.
Refinancing is a long term solution to stopping the foreclosure process. You must qualify for the new loan and depending on the financial difficulty that got you into this situation that may not be possible. And depending on your local real estate market and when you purchased your home you may not have enough equity in your home to refinance. Get a recommendation from a friend or relative for a good mortgage broker or loan officer. A good mortgage broker will probably have more loan options. Typical costs for refinancing are 24 of the loan amount which pay for appraisal lender commissions recording paperwork credit report attorney fees etc. NOTE: Stay away from prepayment penalties and ARM’s Adjustable Rate Mortgages which got a lot of people into this mess to begin with.
DeedInLieu Of Foreclosure.
A deedinlieu of foreclosure is where a lender agrees to take the property back not foreclose and release you from the debt. You can only have one mortgage on your property. The property will need to be in good condition and lenders usually require you to have tried to sell your home. NOTE: In general lenders do not like to take a property back and release you from your debt.
Sell Your Home.
If you are not financially able to keep your home and you don’t see any change in your current financial dilemma that would allow you to keep it with one of the above options then the best option is to sell your house. Ray Martin the CBS Early Show’s financial guru says “Lose the house but not your credit.” If you can sell your home fast before your lender takes the property then do it. The impact of a foreclosure is great especially if your goal is to be able to buy another home. The foreclosure shows up on your credit report as “debt discharged due to foreclosure” and will reduce your credit score by over 250 points and you may have to wait up to 3 years to qualify for a mortgage at a reasonable rate. Your options for selling your home are to list with a Realtor sell it yourself as a for sale by owner FSBO or sell it to a professional real estate investor.
Selling through a Realtor is the traditional way that most people know how to sell their home. The difficulty in selling your home through a Realtor is that you need to sell your home fast and in today’s depressed market houses are sitting on the market month after month after month. You don’t have that much time. And in situations where a ‘Short Sale’ See Short Sale below is warranted usually because of the lack of equity the skills required to negotiate a successful short sale with a lender are usually opposite those of a Realtor.
Selling your home yourself offers the same set of problems as selling with a Realtor and also includes how you will market your property. A sign in the yard is one thing but what about the cost of advertising in your local papers. You’ve got the get your home sold fast.
In order to sell your home fast you should consider getting a free confidential noobligation offer for your home from your professional real estate investor. Your professional “We Buy Houses” real estate investors are usually part of a local Real Estate Investment Association and have daily experience and expertise in working with homeowners in difficult situations.
Short Sale.
A short sale is basically a sale where the lender agrees to take less than or “short” of the amount owed. A short sale is negotiating with your lenders to accept less than what is owed. If there is not enough equity to sell your home pay off the mortgages and cover the cost of selling then a short sale is usually a good option to foreclosure. There are other situations where a lender will consider a short sale. A short sale can be VERY time consuming and complicated and requires good negotiating skills and understanding of the lender’s loss mitigation processes. If you have a second loan you usually have a better chance of doing a short sale with the second lien holder because if the first lender forecloses and sells the property at auction the second lien holder only gets what’s left over from the proceeds of the sale after the first lender is paid off. Usually the second lien holder is wiped out. So you can see their willingness to negotiate.
We would not suggest trying to complete a short sale on your own. There are a multitude of details and paperwork involved in a short sale. Having a professional on your side can make or break the deal. Someone who knows the short sale process and paperwork is a requirement for a successful short sale.
One of the most important factors in starting the short sale process is having an offer. Lenders usually will not even begin processing the short sale package paperwork without a valid purchase and sales agreement. This is the primary reason we strongly suggest contacting your local professional real estate investor. Very few Realtors fully understand the process of a short sale and even fewer are willing to invest the amount of time it takes to complete a successful short sale not withstanding the required negotiation skills. Listing your property and waiting for an offer takes valuable time needed to complete the short sale process. As the short sale becomes a more and more common vehicle for lenders to dispose of their nonperforming assets during this mortgage crisis more Realtors are listing homes as “short sales” and “negotiating” with the lender for a reduced price before they have an offer in the hopes that this will help them attract buyers. They don’t know where to price the house and typically price the house too high as they “talk” to the lender asking them what they would take thinking that this is “negotiating” a short sale for the home owner. It must be noted that this is not a short sale and the majority of these homes end up being foreclosed on for the lack of any buyers or the inability of the Realtor to negotiate a successful short sale for a buyer if they do get one. It’s not that the Realtor doesn’t care about their customer; Realtors and investors both care about their customer.
Because it only takes a lender about 30 days to foreclose on your home in Mississippi time is of absolute importance. Real estate investors act fast charge you nothing to buy your home and you don’t have to go through a foreclosure. With a successful short sale everyone wins. For a free noobligation stop foreclosure consultation please vist our website at www.MSHomeSolutions.com and complete our Questionnaire.
Keywords: hattiesburg mississippi sell my homesell my house fast we buy houses foreclosure save my home sell your hattiesburg mississippi home houseavoid foreclosure behind on payments sell your home sell your house we buy houses fast lamarforrest real estate purvis petal oak grove sumrall
About the writer: MSHomeSolutions buys houses in Hattiesburg Petal Oak Grove Purvis and throughout the Mississippi MS Pinebelt in Lamar and Forrest Counties and can often do so in 7 days or less. We can pay all cash take over your mortgage payments or come up with a custom solution to suit your needs. We are also specialists in working with home owners in foreclosure. We can help you SAVE YOUR HOME from foreclosure or we can buy it even if there’s no equity. For more information on how we can buy your house fast or help you avoid foreclosure please visit our website at www.MSHomeSolutions.com or call 6015449400.
Special Tips For Selling Your Home During The Challenging 2007 Market
For those trying to sell a home this summer the real estate climate can feel unseasonably chilly. Truth be told this is one of the most difficult selling environments in recent history so if you are feeling a bit frustrated and anxious you are far from alone. All across the USA homeowners are pulling out the stops to try and encourage sales but successful transactions are getting as scarce as hens teeth.
But before you despair follow these tips offered by those with lots of experience marketing homes in bear markets:
bull; Calculate your heating costs going forward:
Especially if you live in a cold climate consider the financial impact of keeping your house warm through the coming winter months. Fuel oil prices are likely to rise and the expense of heating a home across a severe winter can add thousands of dollars to your overhead. If that is the case you might want rebate a portion of that projected cost to your buyer as an incentive to take the property off your hands while the weather is still warm. Dont tell them thats what youre doing; just discount the price or add extra money to their side of the transaction by offering to pay some of their closing costs.
bull; Sweat the small stuff but make sure you first take care of any deal killers; that might be scaring away potential buyers:
Broken doorbells and doorknobs cracked window panes and dingy carpet or countertops can make a property look worn out so consider fixing these relatively small items to dress up your home and make it more appealing. But first evaluate your property with the help of a Realtor or building contractor to find out if you have any deal killers;. If the house needs a new roof and has stains on the ceiling from rain leaks for instance it could be driving away all potential buyers. The same goes for obvious problems like the presence of potentially hazardous mold or a defunct heating and air conditioning system. Unless you address these problems ndash; either by taking care of them or by lowering your asking price to account for them ndash; buyers will not want to get involved.
bull; Add curb appeal:
If your home looks great from the curb buyers will want to have a closer look. If it looks a bit shabby they will just keep driving. Start with the entryway which is what first attracts the eye and make it look spectacular. Dont invest a lot of money; just buy a new door or paint the one you already have and add some nice looking but inexpensive flowerbeds potted plants or border fencing to create a beautiful focal point leading into the home. Doityourself landscaping involving some richlooking mulch and colorful flowers can make a drab property pop like eye candy and it doesnt have to cost much to get dramatic results.
bull; Paint is the best makeup in the world for cosmetic enhancement of a home:
Paint is the most costeffective tool for adding value to your home. Avoid expensive paints and designer hues in favor of contractor grade paint in neutral colors. Avoid dead white because creamy shades are warmer and more inviting and use complimentary semigloss colors to highlight window and door frames. A primer coat will help to cover stains and blemishes and caulk is cheap so use it liberally to get your moneys worth from the project. For a really topnotch look three coats of paint works miracles and in small spaces like bathrooms this can be done without going overboard on your budget.
bull; Take an aggressive approach to showcasing your property:
Although it can be difficult and inconvenient strategically redecorating your home could lure buyers and close a sale making it well worth the effort. Dont do a huge makeover; just concentrate on tactical staging; of each room. Study the way that builders decorate their model homes for professional insight into how the process works to help market property. Remove all excess furniture and clutter ndash; storing it off premises if possible ndash; to make the rooms look larger and more spacious. You can hire professional real estate staging companies to do this or consult an experienced Realtor for tips on how to make each room like its very best. Empty closets to show off their storage capacity keep the property immaculately clean and neat for each and every showing to buyers and use flattering lighting to highlight each room.
You might find that implementation of a simple and cost effective idea or two from this list might give you the advantage necessary to turn a lifeless listing into a successful sale. And that could be cause to celebrate before the last hoorah; of summer arrives and qualified buyers begin to hibernate for winter.
About the writer:nbsp;nbsp;To list your home with a broker committed to serving the GLBT community visit www.GayRealEstate.com. To help your buyer get the loan they need you can also check out www.GayMortgageLoans.com. Or just call toll free 1888420MOVE 6683.
Commitment passion and dedication to changing what you perceive as a social injustice and prejudice was the drive that encouraged Jeff Hammerberg to create a monumental service to the American LGBT community one that he had envisaged for a quarter of a century. 2004 was a significant year in realizing his dream as Jeff Hammerberg founder of the largest LGBT real estate marketplace in the world reaped the rewards of his vision that had been nurtured for 25 years.
During the 1990s he worked in residential real estate and observed first hand the quiet homophobia that pervaded the industry and silently but effectively hampered the lives of LGBT consumers nationwide by placing barriers between them and home ownership. By 1997 with little more than foresight a strategy and zealous fortitude Hammerberg broke away from the traditional real estate community to create the first virtual real estate marketplace for LGBT clients.
Beginning with homelounge.com an Internet company dedicated to assisting home buyers and sellers in the USA Hammerberg gradually added services and sites while adhering to a strict personal commitment to donate proceeds from his businesses directly into the LGBT community.
By 2004 he had created www.lesbianhomes.com www.gayrealestateplanet.com and www.gaymortgageloans.com which are all groundbreaking companies in terms of concept and adherence.
Spanish Property Your Stairway To Heaven
If you are absolutely perplexed and at a standstill trying to figure out where to set up your leisurely getaway then one name that easily reverberates through the mind is Spain. The land of the golden beaches hills and an undying spirit for cultural revelry never fails to amaze and tantalise the minds of the peace craving travellers around the world. The tremendously increasing influx of visitors to Spain has catapulted the nation’s tourism sector higher as well as made the real estate industry a thriving arena. So if you want a piece of the adrenaline action go ahead and invest on Spanish property.
Your decision to purchase property in Spain will render you quite a wise man if you long for total bliss through lots of fun and activities. The whole of this incredibly pumped up nation is full of many soughtafter Spanish properties at various popular regions. You can get your share of apartments villas resorts and penthouses to enjoy such pleasantries as beaches golf courses parks and bars among many other activities. Some of the most popular regions in this Mediterranean country are Costa del Sol Costa Blanca and Costa Calida.
Contrary to popular belief that buying property in a foreign land entails a lot of risks it is quite easy to get hold of a profitable one in Spain. There are a lot of real estate agents offering the best deals on various Websites. All you need to do is browse through these Websites and choose the Spanish property that best suits your budget as well as taste. What’s more you will be assisted by other elements like financial advisers lawyers and real estate developers in every way possible.
Taking all these factors into consideration you will never regret the decision of investing on a Spanish property.
About the writer: Brittney Jackeline is a well known professional writer. She has won appreciation especially for good writing about the Spanish Real Estate topic like properties in Spain.