We Buy Houses In Fort Thomas Kentucky. We know that few things are more devastating to families than the prospect of foreclosure. We are legitimate homebuyers in Fort Thomas KY who believes you own your home and you love it — it serves you well. Yet, due to unfortunate circumstances, foreclosure may seem imminent.
Foreclosure Help In Fort Thomas KY – 3 Ways To Avoid Foreclosure
For local Fort Thomas KY families facing foreclosure, the stress can be almost unbearable. Worse yet, the foreclosure process can take months or even years, stretching out the pain for longer than anyone wants.
Fortunately, you have options available to you here in Fort Thomas KY– perhaps more options than you realize. There are many strategies that help for foreclosure in Fort Thomas; these are legal foreclosure avoidance strategies you can implement to help you resolve your foreclosure issue so you can get on with your life.
In this blog post, you’ll read about 3 ways that you can avoid foreclosure (there are other ways to avoid foreclosure as well). The goal of these strategies is to help you legally and ethically avoid foreclosure and reducing the pain and frustration that you’re facing, while minimizing any long-term financial commitment or burden to you. Not all of these strategies will apply in every situation but you’ll probably be able to find at least one of the three ways that will work for you.
Strategy #1: Work Out A Deal With Your Ft. Thomas Lender
The first strategy we recommend in Kentucky is called a “foreclosure workout”. Lenders will hear you out. In a foreclosure workout, you’ll sit down with your lender and tell them that you don’t think you can pay your current mortgage obligation but you’d like to figure something out so you can stay in your Kentucky house and continue to pay your mortgage.
Contrary to popular belief, lenders don’t want to foreclose! (Seriously, they hate it! It looks bad on them and worse on their books). They want happy customers who pay their mortgages, so lenders are often willing to work with homeowners to figure out a deal. This might include a temporary reprieve on your mortgage payments, or it might include a catch-up strategy where your outstanding mortgage payments are spread out so you can catch-up and pay them off, or it might include a restructuring of the outstanding amounts that you owe.
Strategy #2. Bankruptcy
Filing for bankruptcy may seem like an extreme measure but it is one of the “tools” in your foreclosure avoidance toolbelt. When you file for bankruptcy, you indicate to all of your creditors that you are no longer able to pay your bills. Filing for bankruptcy will put a stop to the foreclosure process because all creditors must stop the collection process.
Filing for bankruptcy, though, is a little extreme: it may require you to sell off some of your assets in order to pay off your creditors. And, a bankruptcy will remain on your credit score for many years, which could impact everything from getting a loan to getting a car… even getting a job. So this should not be your first line of defense!
Strategy #3. Short Sale To Stop A Foreclosure In Fort Thomas KY
A short sale is the third strategy — this is where you sell your home and put the proceeds of the sale toward the amount owing on your mortgage loan. A short sale is a preferred method for people facing foreclosure because it is proactive, fast, and very effective.
1. It’s proactive, which means that you take matters into your own hands (that’s a major stress eliminator because so much of the stress of foreclosure comes from the process being completely out of your control).
2. It’s fast — in some cases, you can sell your home in as little as a week! That’s also because it’s local: You can get help for foreclosure in Fort Thomas, KY since organizations like We Buy Property In Kentucky help people going through short sales.
3. It’s very effective because a short sale can completely wipe out (or almost wipes out) the amount owing on your mortgage. If there is any amount left over that is not covered by the sale of the property, you’ll be responsible for it (although you can sometimes work out a deal with your lender).
With a short sale, you still end up with the reality of having to leave your Kentucky home but there is a bright side: The impact to your credit is much less (compared to a bankruptcy or a foreclosure) so this is a smart long-term play to give yourself some options.
If you find that you’d love to sell your Fort Thomas, KY house to get out from under your Fort Thomas KY foreclosure… look no further!
Sell My House in Fort Thomas KY
We are Kentucky home buyers. You actually don’t have to list your Fort Thomas house with a realtor and make costly repairs. You can sell your house in KY directly to us and avoid waiting periods and uncertainty. Better yet, you don’t even have to put another cent into the property. We pay cash for houses in Kentucky, and we buy them as-in in any condition or situation. You can sell your Ft. Thomas house fast and conveniently when you work with us. Stop stressing and start living. Sell your Kentucky house fast and leave your worries behind.