Notice of Default
So a notice of default was filed against your home, what does it mean? You probably have a lot of questions. And just about everyone you talk to wants to charge you money. Well let me tell you a secret.
YOU HAVE OPTIONS.
Just because times have been tough and they are threatening with foreclosure doesn’t mean that you don’t have a few options. And they WON’T COST YOU ANYTHING.
1. You can do nothing. Eventually they will foreclose and you will be forced to move.
2. You have the right of redemption.
a. This means that you can make up the past payments and be current. It is your right.
3. You can sell – regardless of what you owe.
Most lenders will allow you to short sale your home. That is sell it for less than what you owe. You might be asking, why bother? Well there are literally thousands of reasons to sell it. Let’s go over them now.
1. The lender will usually pay all real estate commissions. You don’t have to worry about that at all.
2. You don’t get foreclosed on. To some, that is important to try to do the right thing. If an offer comes in, it will usually postpone the foreclosure date.
3. The other reasons I can list in one line, and there are thousands here. If you qualify, which many do, you can actually get paid to move. I have personally seen people get thousands of dollars to move. I even saw one case where a seller got paid $30,000. The amount depends on your investor/lender
If you want to know more about the options listed here, feel free to give me a call. I am local and will give you as many answers as I can to help make this an easier pill to swallow. Even if foreclosure is right around the corner, we may be able to help.
I am a licensed Realtor in the State of Oregon with an office right here in Grants Pass. I specialize in helping people sell their homes when they owe more than the current value. I have helped a lot of people sell their home at no cost to them, and they actually got paid to move.
Remember there are options and you can actually get paid to sell your home. Give me a call at (541)471-1900 and ask for David.