If you are behind on your loan payments, you will begin receiving a lot of mail from your lenders strongly encouraging you to works something out. If you do not respond and ignore them, the lender will start the foreclosure process. Up to the day of the foreclosure sale, you have the ability to reinstate your loan or work with a buyer to complete a short sale.
Here is an outline of the 7 Stages of Losing your House to Foreclosure:
1) You buy and borrow.
2) You realize you are going to miss a payment.
3) You miss the payment.
4) You get a notice from the lender.
5) An action to foreclose is filed.
6) A notice of sale is published.
7) A sale occurs.
If you are behind in your payments and facing foreclosure, we may be able to help you out of your situation and save your house from foreclosure. Call us right away as time is of the essence. Our number is 205-390-1050. You can also contact via our website at www.WeBuyBham.com. We buy houses throughout Birmingham, and would be happy to see how we can help.