Foreclosure

“Foreclosure” is an intimidating word, and many people don’t understand what it means. We can explain.

When a person buys a home, he or she signs a contract with the bank. The person gets a sum of money to pay for the house, and then slowly pays back the bank with interest. So how is it that people don’t just stop paying the bank? They have the money in their hands after all!

The answer is this: in the mortgage contract you signed, you agreed that the bank retains rights over the property. In a sense, they still keep ownership (called a lien), and this is what protects them. The house is their “collateral.” If you don’t pay, or don’t pay on time, they won’t lose all their money. They have the option of “foreclosing,” which means they will take possession of the house and sell it to recoup their money.

Tax Liens

In addition to paying the bank, you also have had to pay taxes on your house or other real estate property. And-- who could forget-- you have to pay income taxes.

But what if you don’t pay?

Sometimes, people do fall behind and can’t pay their taxes. They lose their jobs, or have an expensive divorce. According to the law, the government can use your house as their “collateral” in order to get their tax money. If you don’t pay, they can issue a “lien” on your property. As described above, a “lien” is simply when someone asserts rights over your property in order to enforce a contract. In the case of a mortgage, you have a contract with the bank. And by living in the US, you have a “contract” to pay your taxes.

It doesn’t make the bank or the government good or bad; it’s just the way things work.

Unfortunately, the way things work may not work for you.

We Can Help

If you are late paying your mortgage or struggling with back taxes, we can buy your property fast, all cash. We pay the closing costs and all the bills related to the transaction. This can help you get straight with the government and with the bank.

What If That Doesn’t Pay the Bank Off?

That’s where we come in. We are experience professionals, with attorneys on staff, and we can handle those negotiations for you. We will go to the table with the bank and try to pay off your mortgage. It often turns out we can arrange a deal that pays your mortgage and debts and even puts some cash in your pocket.

What’s In It for You?

We invest in real estate. Your house doesn’t do the bank any good. They don’t invest in real estate. It’s not their business. They’re a bank. They are simply going to sell the house to get as much money back as they can.

We’re different. We invest in real estate. We are looking for good properties that we can put time, money and effort into. Then, we can make our profit when we sell it later.