One of the most terrible things that can happen to a family is the possibility of foreclosure. You own and enjoy your home, and it provides you with excellent service. However, due to unforeseeable circumstances, foreclosure may appear imminent, and you will be unable to avoid it.
For local tulsa house buyers facing foreclosure, the difficulty can be practically excruciating. Not only is it the worst possible solution for the house owner, but the process might take months or even years, prolonging the agony beyond anyone’s expectations. This is when you will need expert Tulsa foreclosure assistance.
You have choices to stop foreclosures in Tulsa if you live in Oklahoma. There are various legal foreclosure avoidance options that you can utilize to handle your foreclosure situation and move on with your life in Tulsa.
If you are one of those who is stuck in similar situation, need not worry. We have made this blog post to help you avoid foreclosure.
Strike a Deal with Your Lender
The first step towards preventing foreclosures is to educate yourself. Sit down with the lender and try to negotiate an agreement that benefits both parties.
Sitting down with your lender and explaining that you are unable to pay your existing mortgage payment is the first step in the foreclosure workout process. You want to find a way to keep your house and pay your mortgage, so you’re looking for a solution.
Furthermore, unlike what you may have heard, lenders do not want to foreclose on your home. Because they desire satisfied customers who pay their mortgages, they are more likely to help with homeowners to find a solution.
A temporary reprieve on your mortgage payments, a catch-up method in which your outstanding mortgage payments are spaced out so you may catch up and pay them off, or a rearrangement of the outstanding amounts you owe are all possibilities.
File for Bankruptcy
The second way to avoid foreclosures in Tulsa is by declaring bankruptcy. Even though it sounds like too panicky, but it may help you stay clear of going downhill.
But how does filing for bankruptcy help you?
You notify your creditors that you are unable to pay your bills when you declare bankruptcy. If you file for bankruptcy, the foreclosure process will be delayed since all creditors must cease collection efforts.
Opt for Short Sale Help
If all else fails, try a short sale to avoid foreclosure. This may not have occurred to you, but we buy houses Tulsa to assist you in securing your financial situation. A short sale is the best option for homeowners facing foreclosure since it is proactive, quick, and very effective.
Call us today 918-770-7886 to talk to one of our foreclosure experts, so you can plan the best possible route for you and your family.