Category Archives: Behind on Payments?

Behind on Property Taxes or Mortgage Payments? Sell now!

If you are behind on your property taxes or mortgage payments, you want to act quickly. Texas is the fastest foreclosure state in the nation. If you are behind on property taxes or behind on mortgage payments, you are at serious risk of losing your house to foreclosure.

It’s important to either catch up all of your payments because if you are even behind a few dollars, you are still considered delinquent. I had a client who caught up all her mortgage payments, but the mortgage company had bought an additional hazard insurance policy on her home. Because she disagreed with that, she didn’t pay it, so the mortgage company still considered her to be behind on payments.

Luckily, we got her home on the market and got the house sold so that everything the mortgage company said she owed was paid off. And, she made a profit on the sale.

So, it is entirely possible to:

1.  Sell your house

2.  Pay off all property taxes owed

3.  Pay off the mortgage

4.  Pay all closing fees

5.  Make a profit!

Here’s my video message on how I can help you make a profit on your home. Call me at 512-266-2606 for more information.

Travis County Foreclosure Report

Did you know that Texas is the fastest foreclosure state in the nation?

If you are behind on your mortgage payments, please DON’T WAIT to contact us. We CAN help immediately!If you are struggling to make your house payments and have fallen behind, you WILL receive a foreclosure notice. It’s only a matter of time.Here’s how it works in Texas:

1. You miss at least one mortgage payment (For example, you don’t make your October payment.)
2. Your lender files for foreclosure in your county 21 days prior to the auction sale.
3. You receive a Notice of Foreclosure (For example, on November 15th.)
4. Your home is auctioned on the courthouse steps on the first Tuesday of the month. (For example, on December 7th.)
5. The sheriff knocks on your door with an Eviction Notice. (Right before the holidays.)
6. You’re homeless and your credit is ruined. A landlord may not even want to rent to you.

That’s how quickly you can lose your house in Texas. It all depends on how quickly YOUR lender files with the County. Once they do file, there is NO DELAY with the County. Your home WILL be auctioned within 21 days.

If you are even ONE MONTH behind on your mortgage payments, you may already be facing foreclosure.

WE CAN HELP!

You have options:1. Our FAST cash offers may be the easiest way to sell the house & stop the foreclosure.

2. Our short sales work. Our immediate offer to your lender may stop the foreclosure & allow you to stay in the house until the sale, often for many months during the negotiations. You stay in your house with no more mortgage payments, AND, best of all, no more lender phone calls. Your credit will be damaged but not as badly as a foreclosure can do.

3. We may be able to catch up your payments and take over all future payments. Your house is sold. Your payments are made. AND, your credit actually improves!

4. IF YOU CONTACT US EARLY ENOUGH, we may be able to sell your home for a PROFIT and put money in your pocket. Please read the story below to understand why.

I recently attended the Travis County foreclosure auction and watched as Bank of America won the bid to purchase a 5-year old home for $140,000. Bank of America was the 1st lien mortgage holder on the home, and the loan payoff was $140,000. In this case, Bank of America did not get their $140,000, but they did obtain ownership of the house. Here’s the really sad part. Obviously, the owner who lost this home to foreclosure was behind on payments. But, the house was in good condition in a nice neighborhood. In fact, I am very familiar with home sales in that area. The owner could have easily & quickly sold that home for at least $165,000 if she had listed the home with us. This sale would have allowed the owner to stop the foreclosure, pay all the necessary closing fees, AND walk away with money in her pocket! Instead, she NEVER listed the house. She NEVER even tried to sell it. If she is still living there, she will now receive a knock on the door from the Travis County sheriff who will serve her an eviction notice. Wow! This is the beginning of a 10-year nightmare for her. She may not even be able to rent a place to live because her credit is toast.

Contact me today to learn more about ways to avoid foreclosure.

Going Once… Going Twice… Sold!

The Travis County foreclosure auction is tomorrow, and there are approximately 50 properties posted from the Lakeway area.  Going once… Going twice…  Sold!

I am attanding the auction for the first time so that I can see the action first hand for myself.  Foreclosure numbers for the Lakeway area appear to be increasing, and since I live and sell homes in this area, there is an increasing need to understand this part of the market.

It is my goal to help home owners in this area avoid foreclosure whenever possible.  Some alternatives include traditional sale, short sale and mortgage assignment.  All of these strategies would be better than having a foreclosure on record.

The vast majority of the homes listed for tomorrow’s sale have never been on the market at all.  Although I may not have reached these homeowners in time, I plan to implement a system of regular contact with any homeowners in this area who may face this problem in the future.

It all starts with me learning the entire process and knowing the possible outcome that these distressed homeowners are facing.

Going once… Going twice…  Sold!  The Travis County foreclosure auction is tomorrow.

Travis County Foreclosures Higher Than Ever

 

Travis County Foreclosures are Higher Than Ever.  Today’s auction included over 800 properties.  This year, an average of 710 properties are lost to foreclosure every month.  This is the highest level this decade.

September 7th, 2010 Travis County Foreclosure AuctionIt may not look like much, but this is a photo taken today of the auction action.  Tropical Storm Hermine did not slow down the bidding, as qualified bidders thumbed through their cashiers’ checks and tried to hear the trustee’s voice above the chatting and the wind-blown rain.  Nearly all the properties were redeemed by the lenders, but a few properties elicited some bidding wars.