Don’t Let Your House Become a Zombie Foreclosure

Some people are talking about the housing marketing starting to recover, but that doesn’t mean that there aren’t still plenty of folks out there who are facing foreclosure on their home for all manner of reasons.

In fact, according to DSNews.com, there are estimated to be a full 2 million homeowners in the land of “Zombie Foreclosure.”

What is a Zombie Foreclosure, you ask?

This happens during the lengthy foreclosure process that begins with the bank sending a Notice of Default to the homeowner.

During the foreclosure process, the homeowner still owns their home.

But during a Zombie Foreclosure, the homeowner assumes they have lost their home and they move when the bank starts foreclosure.  However, the foreclosure process is never completed, so the house is caught “between worlds”, like a Zombie.

Once the homeowner moves, real estate taxes can go unpaid, and the property can fall into disrepair or be vandalized.  This leads to a whole bunch of new problems that the HOMEOWNER CAN STILL BE LIABLE FOR!

How can you fight against becoming a Zombie Foreclosure?

One way is to check with your county’s tax records to see if the bank has completed the foreclosure process.  If they have, the property will be assessed in the bank’s name.

Also, banks are now much more interested in negotiating short sales, among other options.

This is where we can come in.  We specialize in saving houses from foreclosure in Birmingham by doing short sales.  You can also save your credit from a foreclosure by doing a short sale.

Give us a call at 205-390-1050 to see how we can help you save your credit from foreclosure by negotiating a short sale with your lender.  We Buy Houses in most areas of Birmingham, Alabama, regardless of the situation!

Call us now at 205-390-1050!

 

 

 

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