Your first step in the foreclosure process is always to contact your lender and try to work something out. Our Forelosure Home Page gives some really good advice on what you should do first when faced with foreclosure.
If you are not able to work something out with your lender, we have a couple of programs you may want to consider. These programs are as follows:
Lease-Option Program If you are not able to work something out with your lender, we will purchase your home and lease it back to you until you are able to purchase it back from us. This program assumes your financial situation is only temporary and that you have the ability to make lease payments.
Purchase Program If you have equity in your home, and you prefer not to lease, we will be glad to purchase your home from you as long as we can work out a win-win solution for both you and us.
Short Sale Purchase A short sale purchase basically occurs when you have no equity or not enough equity in your home to sell it without taking a loss. This means we must contact your lender and work out a deal where the lender takes less for the home than is owed to the lender (i.e. lender basically takes a loss).
It is important to understand that in each of these programs you are being assisted by real estate investors who expect to make a profit, which is why we highly recommend you do everything you can to work something out with your lender first. If you are unable to work something out, then one of these programs is the next best option.
The amount of profit an investor makes is dependent on your situation and what you and the investor are able to work out that is fair and equitable for both of you.
We offer a free consultation to help you understand the foreclosure process and what your options are. We will not pressure you into doing anything. We will simply lay out all the options and let you make the decision that's best for you.