Many people in Portland] are struggling to make their mortgage payments.
If you’re underwater on your home, or having trouble keeping up with your monthly mortgage payments, you could be worried that your mortgage provider is going to foreclose.
Thankfully, there are a number of things that you can do to avoid foreclosure in Portland. It’s important to remember that moving quickly is absolutely paramount, and could save your credit rating and your home.
So lets examine a couple of quick tips on possibly avoiding foreclosure in Portland.
The Keys of How To Avoid Foreclosure in Portland Don’t Abandon Ship
Luckily, the market in Portland is presently doing better than many other areas and houses are not sitting around for a long period of time. Even so, there are a good amount of people who are forced into foreclosing. Many people simply give up and walk away from their homes (this is both my wife’s and my stories at one point in our lives).
Even with a solid seller’s market, there are certain things that must be done in order to make your house attractive to a seller. Painting inside and out, taking care of that wobbly railing, fixing the faulty downspouts, replacing screens – all of these are things a buyer will expect before they purchase. This doesn’t even include making the house appealing on the outside. A manicured lawn, pleasing flower beds, and clutter-free surroundings make a huge difference to potential buyers. All of these (and more) take time and money to accomplish. These kinds of things may be what is stopping you from selling your house right now. Maybe you are putting them off for later, when money is a little easier to get your hands on.
The housing market is cyclical and as with everything, all good things must come to an end. Even now the market isn’t as strong as it was a few months ago. This doesn’t mean that in two or three months things will turn and houses will not sell. But things are slowly going in that direction. With a downturn in the housing market, you may eventually find yourself stuck with a house that you might not be able to readily sell.
This can be a stressful situation, but it’s extremely important to keep your wits about you. A foreclosure will have a huge negative impact on your credit score, and likely prevent you from purchasing a home in the near future.
You do have options:
• Negotiate with your mortgage lender. Banks and other financial institutions are well aware that some citizens of Portland are struggling. If you haven’t missed a payment yet, you may have some leverage to negotiate a short sale or renegotiate the terms of your loan. Banks don’t like foreclosing on homes, and many will work with you if you aren’t too far behind. You may be offered forbearance, or even a full loan modification.
• Ask for help from Uncle Sam. Over the last five years, the federal government has implemented a number of programs to help struggling homeowners. The Home Affordable Modification Program (HAMP) allows struggling homeowners to modify their loans, reducing monthly payments. The Home Affordable Refinance Program (HARP) allows homeowners who are current on their mortgage payments to refinance an adjustable rate mortgage into a low-interest, fixed rate loan. Both of these programs are subject to eligibility requirements.
We understand that the possibility of losing your home can be stressful. You aren’t alone. Some Portland area homeowners are going through the same troubles. Foreclosure can have a lasting effect on your financial life, and it’s important to move quickly and take advantage of any options available. You could save both your credit rating and remain in your home.
• Sell your house to an investor. AppleTree Group LLCmay be able to help you avoid foreclosure… connect with us today and let’s discuss your unique circumstances. We don’t charge any fees… we’ll evaluate your situation… and present you your options so you can move forward. You can actually walk away from your house without making one repair or cleaning anything. And the best thing, is your house can close in as little as 7 – 10 days!
Call us at (971) 246-7954 or if you prefer, fill out the form below to get a fast cash offer on your home!