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Foreclosure Solutions
What You Need to Know About Foreclosure and Short Sales
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Request a Free Presentation On How We Will Market and Sell Your Home. Remember, All Real Estate Agents Are NOT Alike.  A "Listing Presentation" is an industry term for the formal presentation that a real estate agent makes to prospective home sellers, trying to earn their trust and business. Don't list your home without one! We would love the opportunity to make such a presentation to you. We'll visit your Scott Air Force Base, O'Fallon, Shiloh and Belleville area home, and together we will walk through it, considering the positives and negatives (if any!). You will then see exactly how we would propose to sell your home, for as much as the market will bear, and within your time frame. We will tell you where we will advertise your home, both in print and on the web. With the dramatic growth in homebuyer usage of the web, you MUST have a real estate agent that can extensively market your home online! And you'll find out what your Scott Air Force Base, O'Fallon, Shiloh and Belleville area home is worth, because part of our presentation will include a CMA (Comparative Market Analysis) of your home. We'll compare your home to others like it in Scott Air Force Base, O'Fallon, Shiloh and Belleville area that have recently sold, and also to others that are currently for sale. This is a very important way of determining the fair market value of your home. We make free presentations and prepare CMAs for prospective home sellers every day. we know what puts a big SOLD sign in your front yard. We'd love the chance to make a presentation for you. It is totally free and without any obligation. Call us! Or fill out this form... Yes, you can request a FREE in-home presentation of how we would market your property in the Scott Air Force Base, O'Fallon, Shiloh and Belleville area! We do these presentations for people all the time. It's our job! There's no obligation, and we'll get back to you quickly...
Foreclosures >5. What Happens During the Foreclosure
- Missed payments. The first sign that foreclosure is coming is when a homeowner gets behind on their house payments. Lenders usually understand if a homeowner falls behind on one or two payments and will offer repayment plans so the homeowner can get back on track. However, if they don’t, the foreclosure process will continue.
- Lender notices. After a homeowner misses payments, the lender will get in contact with them either by mail or phone. (The timeframe depends on the lender.) The lender will most likely want to avoid foreclosure as much as the homeowner, so this dialogue can benefit the homeowner in finding alternatives to foreclosure.
- Options are discussed. The homeowner and the lender can brainstorm ideas on how to rectify the situation. If the homeowner and the lender can come to an agreement on payments to get the mortgage back on track, the situation is resolved and foreclosure is avoided.
- Foreclosure filing. If there is no solution to the process, the lender will begin filing a lawsuit to foreclose on the home. This brings the question of foreclosure before a judge. During this process, a title search must occur to make sure if the lender is permitted to foreclose and is not engaging in unjustified foreclosure. In some jurisdictions, court-ordered mediation must take place between the lender and the borrower after the borrower is served with the foreclosure suit, but before the final foreclosure decision, as a last-ditch effort to avoid foreclosure.
- The home is foreclosed on. The lender resumes all rights and responsibilities of the property. The previous homeowner no longer owns the home.
- Foreclosure auction. Usually, the house will then go to a foreclosure auction to be sold. In order to get rid of the home fast, the lender can sell the home at a lower price.
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| Q |
What is a VA home loan?
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| A |
The Office of Veterans Affairs guarantees small or no-down payment mortgage loans made by lenders to U.S. veterans. |
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