How to Fight Back Against Foreclosure in Reno

It may not be too late to take action against foreclosure in Reno, NV

You may have heard the phrase, “time is of the essence”, right? Unfortunately, those words can hit deeply when an impending foreclosure is on your horizon. But, before it’s too late, you should take the lead and take immediate action to head off foreclosure with your lender. When you are at risk of losing your home, the unknown outcome can cause a great deal of stress, and knowledge truly is power, especially when it concerns a financial matter as serious as a foreclosure in Reno or the surrounding areas. By educating yourself on the specifics of the processes involved in foreclosures, you’ll have a clear blueprint to a better tomorrow.

We’ve gathered together the following tips to help you understand the ways you can fight back against foreclosure in Reno.

Make the First Move

The best way to fight back against foreclosure in Reno is to be upfront with your lender about upcoming financial problems or other issues which will interfere with your ability to maintain your monthly mortgage payments. Your lender may be willing to work with you towards maintaining the mortgage through special financial arrangements, such as forbearance with a repayment plan or a mortgage modification. If you’re considering selling as a solution, working with a professional investor from Envy Property Solutions, LLC can help you understand your options. If you believe you could afford the holding costs to wait for a buyer to come along, you’ll know what you would earn if you worked with a real estate agent or sold directly to Envy Property Solutions, LLC. 

It’s Not Too Late

If you’ve received notices from your lender and hesitated in making any moves to fight back against foreclosure in Reno, but foreclosure proceedings have yet to start, reach out to the mortgage lender about a short sale or deed in lieu. A short sale is not a quick process, in fact, there is nothing short about a short sale. Short sales require the lender’s permission, allowing the property to sell for less than is owing on the existing mortgage. However, it’s important to note you may still be on the hook, owing the difference to the lender. Therefore, we encourage you to compare these options for yourself. Should you select to sell to Envy Property Solutions, LLC, in many cases, we offers our guaranteed closing within a matter of days. Need a few more days or weeks before you move? No problem, at Envy Property Solutions, LLC, we can set a date that suits your needs best. And we are fully transparent with how we calculated our offer, so you’ll agree it is fair. 

Out of Time

A foreclosure will remain on your credit history for seven years following the first missed payment. Depending on the type of bankruptcy you file, this red flag could stay on your credit history for up to ten years. Suppose it has boiled down to a decision between which is worse for your credit, bankruptcy, or foreclosure. In that case, your unique situations causing the foreclosure are the deciding factor that will do the least amount of damage to your future. Both options can make attaining another mortgage difficult or not at all possible, depending on your credit history following the event. Possible consequences could include limited living options, your ability to acquire credit, and possibly missed employment opportunities. Envy Property Solutions, LLC may be the answer to your troubles. We can help you maintain your credit standing with our fast closings to fight back against foreclosure in Reno. In addition, we will pay you in cash, that way you won’t have to worry about financing approval delays because the buyer backs out. 

At Envy Property Solutions, LLC, we stop and take the time to listen to your circumstances. The pros at Envy Property Solutions, LLC have years of experience helping homeowners facing foreclosure jump over any hurdle. The professionals at Envy Property Solutions, LLC will help you win the fight against foreclosure in Reno. To learn more, send us a message or call Envy Property Solutions, LLC at (775) 391-5236.

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