With millions of homes across the country going into foreclosure, it\u2019s important for both buyers and mortgage holders\u00a0to understand the process.<\/p>\n
Many homeowners across America and Detroit are facing difficulties making their monthly mortgage payments.<\/p>\n
When\u00a0a homeowner misses 3-6 months of mortgage payments, the lending institution will issue a warning, notifying the\u00a0homeowner to pay or lose their home. This period is known as \u201cpre-foreclosure<\/em><\/strong>.\u201d<\/p>\n Banks and mortgage lenders typically\u00a0provide three months<\/span><\/strong><\/em> for the homeowner to become current. \u00a0Of course this number can vary by bank and situation sometimes.<\/p>\n If a homeowner fails to make the necessary payments, the bank will foreclose on the home, assuming ownership, and\u00a0evict the homeowner. Thankfully, during this stage of the foreclosure process, a mortgage holder has the opportunity to\u00a0take advantage of several options to prevent losing their home.<\/p>\n If you\u2019re behind on mortgage payments, you\u2019re likely to receive a \u201cnotice of default\u201d from your mortgage lender.<\/p>\n This\u00a0document will state that you have not made mortgage payments for the last 90-180 days. It\u2019s important not to panic<\/span><\/strong>.<\/p>\n You have options that can delay or even prevent losing your home:<\/strong><\/p>\n Lenders are very much aware of the widespread financial troubles across the country and they’re willing to work with borrowers a lot of the time.<\/p>\n If you\u2019re honest and\u00a0communicate with your lender, you\u2019ll often find that there are options that will allow you to remain in your home, or at\u00a0least salvage your credit rating.<\/p>\n A foreclosure can often negatively affect your credit score by 200-400 points and can\u00a0prevent you from obtaining a loan of any sort for 5-7 years, so be very dutiful if you\u2019ve received a Notice of Default from\u00a0your lender.<\/p>\n But if you’re not able to find a solution with your lender working directly with them… connect with us.<\/a> We may be able to help<\/strong>.<\/p>\n If you’re in the pre-foreclosure stage… you’ve still got time to fix this situation.<\/p>\n Just connect with your bank to see if they’re willing to work with you… or contact us if you’d like to see what we can buy your house for or to tap into our free foreclosure foreclosure resources.<\/p>\n With millions of homes across the country going into foreclosure, it\u2019s important for both buyers and mortgage holders\u00a0to understand the process. So what is a pre-foreclosure in Detroit anyway? Many homeowners across America and Detroit are facing difficulties making their monthly mortgage payments. When\u00a0a homeowner misses 3-6 months of mortgage payments, the lending institution will […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rank_math_lock_modified_date":false,"inline_featured_image":false,"footnotes":""},"categories":[2,10],"tags":[34,40,59],"class_list":["post-1748","post","type-post","status-publish","format-standard","hentry","category-avoiding-foreclosure","category-sellers","tag-foreclosure","tag-foreclosure-process","tag-pre-foreclosure"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts\/1748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/comments?post=1748"}],"version-history":[{"count":0,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts\/1748\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/media?parent=1748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/categories?post=1748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/tags?post=1748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Pre-foreclosure Options for Borrowers<\/h2>\n
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Ways We Can Help If You’re In Pre-Foreclosure<\/h2>\n
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Want To Discuss Your Pre-Foreclosure Options? Call Us at (313) 217-9851
\nOr, Submit Your Info Here To Get A Cash Offer On Your House >><\/a>
\n<\/strong><\/h3>\n","protected":false},"excerpt":{"rendered":"