If you have any foreclosed homes for sale in Surprise, AZ, and need to sell them without stress, then you should keep reading.
There are many foreclosed homes for sale in Surprise, AZ but failing to take quick steps to sell them before the foreclosure process begins will lead to them being reclaimed.
If your home is about to join the long list of Arizona foreclosed homes, you can take quick steps to get it sold with a super-fast close and no inspection or appraisal contingencies. How does that sound? Good? Then keep on reading.
The Covid-19 recession
The last few years more than any before have brought unprecedented challenges to many individuals and families. This has led to many people’s inability to make their mortgage payments and a hike in the number of foreclosure houses in Arizona.
If you keep falling behind on your mortgage payments, you are soon likely to get a letter from your lender letting you know that your property is in pre-foreclosure.
If after you get this letter, you don’t take action, you are at risk of losing your home because it’ll be added to the long list of foreclosure homes in Surprise AZ and this is a financially and emotionally draining predicament.
While the term preforeclosure may sound like a foreboding term and a serious situation, it is also a time to take quick action and find a way out. Yes, there are ways out of preforeclosure, and the good news is that they won’t lead you to foreclosure.
Getting a good understanding of what preforeclosure and foreclosure mean, and what options are available to you while in preforeclosure will help you make the best decision for you. Take note that the best decision does not always mean that you’ll avoid the loss of your home but that you’ll salvage the situation, your credit score, your financial status, and avoid foreclosure.
What Is Preforeclosure?
Preforeclosure refers to the first step in the foreclosure process. This step is designed to give you, the homeowners the option to stay in your home before foreclosure.
Preforeclosure begins when you fail to make mortgage payments, which prompts your lender to issue a notice of default. This notice of default is a legal notice that means the lender has commenced the legal process of foreclosure.
Some people also use the term “preforeclosure” to refer to a type of real estate listing.
The preforeclosure process comprises a few steps that begin when you miss your monthly payment. If you miss up to 3 months of mortgage payments, you’re in default of your mortgage. This is the unofficial beginning of the foreclosure process.
In the case where it’s already obvious that you can’t make the necessary payments, you are advised to contact your mortgage servicer.
What options are available to you to avoid Surprise, AZ foreclosures?
Although some lenders may work with homeowners while they get back on their feet, many homeowners usually do not want to go for this option for personal reasons.
Another available option to avoid joining the list of foreclosure homes in Surprise AZ is for people who are able to foresee and plan ahead to sell the house to cash buyers before it is foreclosed on.
If you’re in financial difficulty and you’re falling behind on your mortgage payments, it’s a good thing to act on time before your house gets to the pre-foreclosure or the final foreclosure stage.
We buy foreclosed homes for sale in Surprise, AZ
The good news is that we buy Surprise Arizona foreclosures FSBO and we will pay cash! We will also be happy to negotiate a fair offer with your mortgage lender on your behalf, if that is what you would prefer.
Contact us if you’re looking to sell your Surprise, AZ foreclosures FSBO. We will buy as-is and you’ll get a fast close.
Facing foreclosures in Surprise AZ can leave you clueless and confused but if you’re able to act on it early, you can avoid it.
Selling your house to us helps you stay ahead of the situation and get out of an unfavorable condition. We are direct so there are no fees or commissions, inspection, or appraisal contingencies, and we will save you thousands of dollars in extra fees and closing costs.