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18. Help For Foreclosure In Orlando – 3 Ways To Avoid Foreclosure

A couple needs Help For Foreclosure In Orlando – 3 Ways To Avoid Foreclosure

Most homeowners prefer to get cash for houses in Orlando, FL, to prevent foreclosure. We buy houses in Orlando, FL, quickly at Liberty House Buying Group to assist homeowners. So, before you search “sell my house fast in Orlando, FL,” give us a call.

Few things are more distressing to a family than the threat of foreclosure. You own your house, which you like, and it serves you well. However, owing to bad circumstances, foreclosure may seem to be approaching.

The stress for local FL families facing foreclosure may be nearly overwhelming. Worse, the foreclosure process may take months or even years, prolonging the suffering for far too long.

Fortunately, you have alternatives here in Florida – maybe more than you know. There are many strategies that help for foreclosure in Orlando; these are legal foreclosure avoidance strategies you can implement to help you resolve your foreclosure issue so you can get on with your life.

This blog post will discuss three ways to avoid foreclosure (there are other ways to avoid foreclosure as well). The purpose of these tactics is to assist you to avoid foreclosure legally and morally, as well as to reduce the anguish and frustration you’re experiencing while avoiding any long-term financial commitment or load on you. Not all of these tactics will work in every case, but you should be able to find at least one of the three that works.

Strategy #1: Work out a deal with your lender

The first strategy is known as a “foreclosure workout.” In a foreclosure workout, you’ll sit down with your lender and tell them that you don’t believe you’ll be able to make your current mortgage obligation. Still, you’d want to work something out so you can remain in your home and keep paying your mortgage.
Lenders, contrary to common assumption, do not want to foreclose! Lenders frequently desire happy customers who pay their mortgages, so they are prepared to work with homeowners to find a solution. This might involve a short suspension of your mortgage payments, a catch-up approach in which your outstanding mortgage payments are spaced out so you can catch up and pay them off, or a restructuring of the remaining amounts you owe.

Strategy #2. Bankruptcy

Filing for bankruptcy may seem to be a drastic step, but it is one of the “tools” in your foreclosure prevention toolbox. When you declare bankruptcy, you inform all of your creditors that you cannot pay your expenses. Filing for bankruptcy will halt the foreclosure process since all creditors are required to halt the collection process.

On the other hand, filing for bankruptcy is a bit extreme: it may necessitate the sale of some of your possessions to repay your creditors. A bankruptcy will also stay on your credit report for many years, affecting everything from receiving a loan to acquiring a vehicle… even getting a job. As a result, this should not be your first line of defense!

Strategy #3. Short sale help for a foreclosure in Orlando

The third option is a short sale, in which you sell your house and apply the proceeds to the amount owed on your mortgage loan. A short sale is one of the foreclosure prevention measures in Orlando, FL, chosen by persons facing foreclosure because they are proactive, quick, and extremely successful. 

  • It’s proactive, which means you take charge of the situation (an effective stress reliever since so much of the stress of foreclosure stems from the fact that you have no control over the process).
  • It’s quick – in certain situations, your house may be sold in as little as a week! This is partly due to the fact that it is local: you can get help for foreclosure in Orlando from companies such as Liberty House Buying Group, which assists individuals going through short sales.
  • It’s incredibly effective since a short sale may eliminate (or almost eliminate) the amount owed on your mortgage. Suppose any money is left over after the sale of the property. In that case, you will be accountable for it (although you can sometimes work out a deal with your lender).

With a short sale, you still have to leave your home. Still, there is one advantage: the damage on your credit is significantly smaller (compared to a bankruptcy or a foreclosure), so this is a good long-term move to offer yourself some possibilities.

If you find that you’d love to sell your house to get out from under your FL foreclosure…

Give us a call today at (786) 686-2060 or click here to fill out the form, and we’d like to make you a fair all-cash offer on your house.

Sell My House Fast In Orlando, FL

Homebuyers in Orlando, FL, can make a short sale to avoid foreclosure. So if you are wondering how I can sell my house fast in Florida, you can contact Liberty House Buying Group. We offer cash for houses in FL. Fill out the online form to get a cash offer today.

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