Can I give my house back to the bank in San Antonio without having to go through an expensive foreclosure?
The answer is YES! (but with caveats, read below for more details)
Can I Give My House Back To The Bank In San Antonio Without An Expensive Foreclosure?
There are several ways to prevent an expensive foreclosure in San Antonio.
Your very first step if you are attempting to avoid foreclosure now in San Antonio would be to speak with your loan provider instantly to examine your options to prevent home foreclosure.
You have to take action before getting too far behind on your mortgage payments in order to prevent foreclosure. You need to contact your financial institution as soon as you know that you are most likely to miss a home loan payment and inform them what is happening with your financial situation.
Your mortgage loan company would rather work something out with you so they do not create losses on your property by going through the actual foreclosure process itself.
You need to be honest and open with your mortgage company.
They may be willing to work something out with you that will cut down your rate of interest, which would reduce your monthly payment. In case you miss one or two payments but then are able to start paying again, they may add those repayments back to your home loan and consider you caught up on your mortgage again. The financial institution will not accommodate you in the event that you do not talk to them about what your situation is ahead of time and ask for assistance.
Your mortgage loan bills or your credit card payments?
You will be able to prevent home foreclosure by ensuring that you always pay your mortgage loan prior to any other bills. Your home loan is an essential monthly bill you have to pay. Credit cards shouldn’t take priority over your home loan repayment. You can deal with the implications of not paying your credit cards a lot easier than you can the consequences of not paying your mortgage.
Not paying your mortgage is the worst thing that you can do in regards to your credit score. Getting behind on other sorts of debt such as credit cards won’t ever harm your credit as much as getting behind on your home loan. Not paying your mortgage could cause you problems with your credit cards in any case, so they should not be a priority when you have to pay your monthly dues.
Is selling your house in San Antonio Texas a way to possibly avoid foreclosure?
One way to prevent home foreclosure would be to attempt to pay your house loan off by putting up your property for sale.
You could possibly free yourself from the financial hole you are in by selling your house for money sufficient enough to pay the home loan off entirely. And sometimes you might have enough money left to start over again. This is a great approach to prevent foreclosure on your San Antonio home and prevent a disaster on your credit score at the same time.
Another way to prevent foreclosure on your property in San Antonio would be to really reduce your spending right down to the bare minimum. If you’re able to lower your expenses adequately you could avoid having to offer to sell the home you love. For anyone that is self -employed, one way to spend less would be to quit leasing an office and make a workplace in your home. You might also think about selling a car and using just one which you could share.
You could definitely do something proactive to stop your home from going into foreclosure and hurting your credit and financial situation even further.
We Buy Local San Antonio Houses… Can We Make You An Offer?
Here at Lone Star Real Estate Solutions LLC, we buy houses in San Antonio Texas and surrounding areas and we may have the ability to help you get out of your house and avoid foreclosure.
The process is actually quite simple:
- Fill out the form over here, or give us a call at 210-807-6567 and we’ll review the details to make sure it meets our buying criteria, then contact you to set up an appointment.
- When we come out to meet with you we will walk the property with you and present you with a fair written, no-obligation offer.
- If you accept the offer, we buy your house when you want us to in as little as 7 days at a reputable local closing agent’s office.