Most homeowners don’t imagine experiencing pre-foreclosure circumstances when they buy the house of their dreams. After having saved up for years and working tirelessly to be able to afford it, they dream of a happy, fulfilling life in their new home. This is what makes losing property ownership even more painful when you’re going through a financial hardship and are at risk of having your home seized.
After all, you’re not just losing a house. You’re also losing the benefits and luxuries that came with it. Not to mention the years of memories you built in that house, making it a home. However, in cases where homeowners are unable to pay mortgage loans and are struggling with their finances, foreclosure is a lingering possibility, and one that must be avoided. It’s a legal process that lenders may resort to in an attempt to receive payments via seizure and reselling of your property.
How to Retain Home Ownership
If you want to avoid being in a position where foreclosure seems to be your only option, here are a few things you need to do when you first purchase your home:
- Work out a budget accommodating your home maintenance needs
- Have a mortgage plan in action to avoid delay in payments
- Update your homeowners insurance to compensate for damages to or loss of property
- Set up an emergency fund strictly for home-related payments or repairs
- Avoid taking additional loans while already in debt, or engaging in activities that could hurt your credit score
Despite these measures, homeowners may find themselves facing financial stress that makes paying off debts increasingly difficult. This is where our team comes through to help ensure you’re able to retain property ownership.
Recover All Investments provides creative financial solutions to homeowners in Texas that allows them to retain their homes. We’re a private group of investors with several years of experience in assisting individuals facing pre-foreclosure circumstances. Our creative strategies including leasing and selling houses back to the original homeowners so that they’re able to repurchase their property. This ensures that they don’t have to move out or give up home ownership (permanently).
Get in touch with our team today to learn more about your options to get started!
