What is a Pre-Foreclosure in Cherry Hill?

What is a pre-foreclosure?

“With millions of homes across the country going into foreclosure, it’s important for both buyers and mortgage holders to understand the process.”

• So What Is A Pre-Foreclosure In Cherry Hill Anyway?
• Pre-Foreclosure Options For Borrowers
• Ways We Can Help If You’re In Pre-Foreclosure
• How Jeff Buys Houses Cash Can Help

So What Is A Pre-Foreclosure In Cherry Hill Anyway?

“Many homeowners across America and Cherry Hill are facing difficulties making their monthly mortgage payments.”

When a homeowner misses 3-6 months of mortgage payments, the lending institution will issue a warning, notifying the homeowner to pay or lose their home.

This period is known as “PRE-FORECLOSURE.”

Banks and mortgage lenders typically provide three months for the homeowner to become current.  Of course, this number can vary by bank and situation sometimes.

If a homeowner fails to make the necessary payments, the bank will foreclose on the home, assuming ownership, and evict the homeowner.

Thankfully, during this stage of the foreclosure process, a mortgage holder has the opportunity to take advantage of several options to prevent losing their home.

Pre-foreclosure Options for Borrowers

If you’re behind on mortgage payments, you’re likely to receive a “NOTICE OF DEFAULT” from your mortgage lender.

This document will state that you have not made mortgage payments for the last 90-180 days. It’s important not to panic.

You have options that can delay or even prevent losing your home:

• If your mortgage is “above water,” (meaning you have equity in your house) you may be able to refinance your mortgage, receiving lower monthly payments. Check with your local Cherry Hill mortgage broker… or contact us and we can connect you with a reputable one.
• You may be able to quickly sell your home to a real estate investor that’s reputable in Cherry Hill like us at Jeff Buys Houses Cash, using the cash acquired to pay the months of back-payments owed (or we *may* be able to work out something with the lender that relieves all or part of your back payments. We can buy your Cherry Hill NJ area home quickly, often in just a week or two, will pay in cash, and takes the stress out of trying to find a buyer.
• You can contact the bank and ask them to permit a short sale. In a short sale, you’ll sell your home for less than it’s worth, and the bank will take the loss as a tax write-off.  In some short sales, you may still be required to pay the difference to the bank if the house doesn’t sell for what is owed on the loan.
• You may be able to declare bankruptcy, which can buy you time to pay your debt. Bankruptcy will remain on your credit report for years and can cause significant damage.

Lenders are very much aware of the widespread financial troubles across the country and they’re willing to work with borrowers a lot of the time.

If you’re honest and communicate with your lender, you’ll often find that there are options that will allow you to remain in your home, or at least salvage your credit rating.

A FORECLOSURE can often negatively affect your credit score by 200-400 points and can prevent you from obtaining a loan of any sort for 5-7 years, so be very dutiful if you’ve received a Notice of Default from your lender.

But if you’re not able to find a solution with your lender working directly with them… connect with us. We may be able to help.

Ways We Can Help If You’re In Pre-Foreclosure

• We can potentially help with a short sale – Submit your info on this website so we can evaluate your situation to see if we can help.
• We can buy your Cherry Hill area house – We buy houses in Cherry Hill and would love to make you an all-cash offer on your house too. Just fill out the form here to get started >>
• You can ask us questions and we can provide you with FREE guidance and resources so you can make a well-educated decision. This costs you nothing, there’s absolutely no pressure, no obligation… just free guidance without a catch.

If you’re in the pre-foreclosure stage… you’ve still got time to fix this situation.

Just connect with your bank to see if they’re willing to work with you… or contact us if you’d like to see what we can buy your house for or to tap into our free foreclosure foreclosure resources.

Want To Discuss Your Pre-Foreclosure Options? Call Us at (856) 281-1157
Or, Submit Your Info Here To Get A Cash Offer On Your House >>

Understanding Pre-Foreclosure and How Jeff Buys Houses Cash Can Help

“As a seasoned real estate investor with over 35 years of experience, I’ve seen many homeowners in New Jersey struggle to keep their homes due to financial difficulties.”

One of the most critical situations is pre-foreclosure, a stage that can be overwhelming and stressful.

I’ll delve into what pre-foreclosure is and how “Jeff Buys Houses Cash” can provide solutions to help homeowners avoid losing their homes to foreclosure.

What is Pre-Foreclosure?

Pre-foreclosure is the initial stage of the foreclosure process, occurring when a homeowner fails to make mortgage payments, and the lender sends a notice of default.

This period typically lasts 30-90 days, during which the homeowner can still take action to prevent foreclosure.

It’s essential to understand that pre-foreclosure is not the end, and there are options available to avoid losing your home.

The Consequences of Foreclosure

Foreclosure can have severe consequences, including:

• Damage to credit scores
• Loss of home equity
• Emotional distress
• Financial hardship
• Public records of foreclosure

How Jeff Buys Houses Cash Can Help

At “Jeff Buys Houses Cash,” we specialize in helping homeowners in pre-foreclosure situations.

Our team is dedicated to providing solutions that work, ensuring you can avoid the negative consequences of foreclosure.

Here’s how we can assist:

1. Fast Cash Offers: We provide prompt cash offers, allowing homeowners to quickly sell their property and pay off outstanding mortgage balances.
2. No Real Estate Agent Fees: By selling directly to us, homeowners avoid paying costly real estate agent fees.
3. No Repairs or Renovations: We buy homes in their current condition, eliminating the need for costly repairs or renovations.
4. Expert Guidance: Our team has extensive experience in handling pre-foreclosure situations, ensuring a smooth and stress-free process.

Solutions for Homeowners in Pre-Foreclosure

If you’re facing pre-foreclosure, don’t hesitate to reach out to “Jeff Buys Houses Cash.”

Our team will work with you to find a solution that suits your needs.

Here are some options we can explore:

1. Sell Your Home Quickly: We can provide a fast cash offer, allowing you to sell your home and pay off outstanding mortgage balances.
2. Short Sale: If you owe more on your mortgage than your home’s value, we can help facilitate a short sale, which can help avoid foreclosure.
3. Loan Modification: In some cases, we can assist in negotiating a loan modification with your lender to reduce payments and prevent foreclosure.

Why Choose Jeff Buys Houses Cash?

With over 35 years of investing experience, “I’ve helped numerous homeowners in New Jersey and Pennsylvania avoid foreclosure.”

Our team is dedicated to providing:

• Personalized service
• Flexible solutions
• Expert guidance
• Fast cash offers

Conclusion

What is a pre-foreclosure?

Pre-foreclosure can be a daunting and stressful experience, but it’s essential to remember that it’s not the end.

With the right guidance and support, homeowners can avoid the negative consequences of foreclosure and find a solution that works for them.

At “Jeff Buys Houses Cash,” we’re committed to helping homeowners in New Jersey and Pennsylvania navigate the pre-foreclosure process and find a way forward.

If you’re facing pre-foreclosure, don’t wait – contact us today to discuss your options.

Our team is dedicated to providing personalized service, flexible solutions, and expert guidance to help you avoid foreclosure.

Fill out our online form or call us directly to speak with a member of our team.

Remember, pre-foreclosure is not the end – we can help you find a solution to keep your home or sell it quickly and avoid the negative consequences of foreclosure.

Take the first step towards a fresh start and reach out to us today.