Are You Facing Foreclosure?
We Buy Houses in Foreclosure
A foreclosure is a frightening prospect. We understand how daunting it can be to not feel capable of paying your bills. Financial well-being can become a cloud over your life and can cause additional, unneeded stress. A dream house can easily, and rather suddenly, turn into a nightmare when money gets involved after you’ve closed on a house. The times ebb and change and sometimes there’s not much you can do to save your financial situation, but it’s never too late. Don’t jump to filing for bankruptcy, or look to a horizon filled with debt and despair. It’s going to be just fine, because we’re here to help!
What Does Foreclosure Mean?
In short, it means that the mortgage isn’t getting paid and the bank has to do something about it. When the pre-foreclosure proceedings begin there are two ways it can go: judicial and non-judicial. In Colorado, nearly all foreclosures that happen are non-judicial and don’t go through an actual court. Depending on what stage of the foreclosure process you’re in the middle of, you’ve probably received a couple of notices. You’ll first receive a pre-foreclosure notice which will appear 30 days after you’ve defaulted on your mortgage payment and then the foreclosing party will mail you the notice of their intent to foreclose. After that, you’ll receive a “Notice of Election and Demand.” By the time all of this comes to pass you’ll be past the pre-foreclosure stage and you’ll be firmly in the center of the foreclosure process.
What Can You Do When Your House Is Foreclosing?
Your first step should be to attempt to get a “Notice of Opportunity for Foreclosure Deferment.” It’ll give you 90 additional days to try and pay off the mortgage payment. You’ll be able to file for this after they post the final notice on your front door. You’ll then receive a hearing date, that you’ll need to attend, that they’ll post the notice of 14 days before you’ll be required to show up. If it gets this far without the bank receiving a payment, you’ll be looking at a quick upcoming foreclosure, and soon after, a possible mortgage deficiency. In Colorado, there’s a deficiency law that allows the bank to recoup whatever they’ve lost on the investment. Essentially, if the property then sells for less than the mortgage remainder, then the previous owner could be liable to pay off the rest of the mortgage. Rather than subject yourself, your family, and the future of your finances to a foreclosure, turn to Colorado All Cash instead.
Contact Colorado All Cash to Avoid Foreclosure
If you’re nearly into the pre-foreclosing stage, or even 15 days from foreclosing on your Fort Collins or Loveland property, don’t wait any longer! Reach out to us for an all-cash offer designed to help you out of a bad situation. Rather than let a foreclosure stay on your credit report for seven years, take precautions and relieve the financial burden by getting rid of your unwanted property for all cash. We’re passionate about helping people out of a bad situation, so let us help you. We’ll start by offering you a free, no-obligation cash offer for your house, all within 24 hours or less.
The only way to handle a bad investment is to get out of it. Contact us to revive your financial situation before it’s too late.