While sometimes the foreclosure of your home and bankruptcy are your only options out of a difficult financial situation, the effects severely impact your credit rating and you may lose many of your possessions. In some cases, there are ways you can avoid foreclosure as well as possibly filing for bankruptcy.
First, you really need to have a clear picture of your finances. This means you need to write down all of your monthly expenses. This includes mortgage payment, utility bills, food expenditures and every item you spend money on every month. You also need a list of debts that you have, which not only includes car and house debts, but credit card companies and even money you owe to your friends or family. Compare these expenditures to your total income, and also make a complete list of your possessions and their approximate value.
After you have a clear picture, start making choices about what you can eliminate from the budget. Canceling cable, gym memberships, expensive cell phone packages and memberships to online movie streaming or video game clubs are all luxury items that really add up and are easy to do without. In addition, perhaps you have items you can sell. Maybe you have a boat or some gold jewelry or you can manage with just one vehicle. Plan out meals carefully and eat at home and pack a homemade lunch at work. Every bit can help you get back on the right track and help you pay off debt.
Our mortgage payment is also a huge obstacle every month, and many people find themselves either unable to pay on time or have had to skip payments now and then. If your mortgage is simply more than you can afford, selling your home might be your best bet. It can eliminate a huge chunk of debt and sometimes you might even have a bit extra to help with moving expenses or paying down additional debt.
The downside is that selling your house takes time if you use a realtor or if you decide to sell the home yourself. Realistically, if someone makes an offer the very first day your house goes on the market, it will be 30-40 days before your money comes in and rarely does a home sell that quickly. However, it can be sold very quickly if you go to a real estate investor. These are groups or individuals that buy homes for cash, close the deal quickly, fix up the property and resell for a small profit. They can help you avoid foreclosure and possible bankruptcy simply because they can deliver cash in days as opposed to weeks or months.
If you are trying to stop a foreclosure in Virginia Beach, consider contacting the experts at VA Home Investments. They focus on properties in Virginia Beach and sell houses quickly. They will offer you a fair price for your home and often can close the entire sale in about nine days. Unlike realtors, they charge no fees or commission. If you have a Virginia Beach home to sell fast, a real estate investment company such as VA Home Investments can help.
First, you really need to have a clear picture of your finances. This means you need to write down all of your monthly expenses. This includes mortgage payment, utility bills, food expenditures and every item you spend money on every month. You also need a list of debts that you have, which not only includes car and house debts, but credit card companies and even money you owe to your friends or family. Compare these expenditures to your total income, and also make a complete list of your possessions and their approximate value.
After you have a clear picture, start making choices about what you can eliminate from the budget. Canceling cable, gym memberships, expensive cell phone packages and memberships to online movie streaming or video game clubs are all luxury items that really add up and are easy to do without. In addition, perhaps you have items you can sell. Maybe you have a boat or some gold jewelry or you can manage with just one vehicle. Plan out meals carefully and eat at home and pack a homemade lunch at work. Every bit can help you get back on the right track and help you pay off debt.
Our mortgage payment is also a huge obstacle every month, and many people find themselves either unable to pay on time or have had to skip payments now and then. If your mortgage is simply more than you can afford, selling your home might be your best bet. It can eliminate a huge chunk of debt and sometimes you might even have a bit extra to help with moving expenses or paying down additional debt.
The downside is that selling your house takes time if you use a realtor or if you decide to sell the home yourself. Realistically, if someone makes an offer the very first day your house goes on the market, it will be 30-40 days before your money comes in and rarely does a home sell that quickly. However, it can be sold very quickly if you go to a real estate investor. These are groups or individuals that buy homes for cash, close the deal quickly, fix up the property and resell for a small profit. They can help you avoid foreclosure and possible bankruptcy simply because they can deliver cash in days as opposed to weeks or months.
If you are trying to stop a foreclosure in Virginia Beach, consider contacting the experts at VA Home Investments. They focus on properties in Virginia Beach and sell houses quickly. They will offer you a fair price for your home and often can close the entire sale in about nine days. Unlike realtors, they charge no fees or commission. If you have a Virginia Beach home to sell fast, a real estate investment company such as VA Home Investments can help.
About the Author:
Evella Clifford enjoys reading real estate blogs. If you are looking for real estate investor who can assist in Virginia Beach sell house quickly, or to discover methods on how to stop foreclosure Virginia Beach, please go to the VAHomeInvestments.com site now.
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