Are you at risk of losing your property to the bank?
Are you at risk of losing your property to the bank in South Africa?
Nobody wants to find themselves in a situation where they may lose their home. You may become tired, broke, and completely stressed out because of your financial losses and mental anguish. Real Estate Assist is here to help you get yourself out of this bad situation.
There are many things that can lead to you losing your house to the bank, things that can affect you financially, such as:
- Loss of employment or reduction of hours
- Divorce or separation
- Death of a spouse
- Major illness or injury
When you are focused on an unexpected problem or situation, it is difficult to think about house repossession.
Are you at the risk of losing your property to the bank in South Africa?
Real Estate Assist is here for you if you:
- Want to keep your home, avoid the bank auctioning your home, prevent foreclosure
- Want to be able to pay your mortgage again and stay on your property while you are getting help from us and can recover your finances
- Want to stay in your home because you cannot afford or have the time to relocate now or have sentimental ties to your property and do not want to sell it
- Want to Stop, prevent, or get advice about a looming auction, foreclosure, repossession, or legal action on your home or property
To avoid losing your property to the bank, this is what you need to do:
- You can “short sale” your house.
If the value of your home is less than what you owe your mortgage company, a “short sell” may be the solution to your problems. Banks require over 70 pages of paperwork to consider your home for a short sale.
You can have representation for the entire short sale process for the price that most attorneys would charge for one or two hours of their services (an average of three months).
- Negotiate out of foreclosure:
You may be able to negotiate your way out of a foreclosure. Banks, on the other hand, despise foreclosure. Foreclosing on the property cost them a lot of time and money. In the absence of a forbearance agreement, try calling your lender and explaining your situation. You will most likely be given some
- Find out about forbearance programs:
A forbearance program will help homeowners who have fallen on hard times. The lender will postpone the foreclosure process until the forbearance period expires. To avoid foreclosure, you must be able to make up all missed payments by the end of the grace period. It may seem like a good solution but making the back mortgage payments can be difficult.
- Look into a loan modification:
A loan modification is a long-term solution to dealing with a mortgage payment you are consistently unable to make. Perhaps there was a death in the family or another major change, and you can no longer pay what you used to. You can work with the lender to modify the loan, but this will usually increase your interest rate.
- Find out about forbearance programs:
A forbearance program will help homeowners who have fallen on hard times. The lender will postpone the foreclosure process until the forbearance period expires. To avoid foreclosure, you must be able to make up all missed payments by the end of the grace period. It may seem like a good solution but making the back mortgage payments can be difficult.
- Look into a loan modification:
A loan modification is a long-term solution to dealing with a mortgage payment you are consistently unable to make. Perhaps there was a death in the family or another major change, and you can no longer pay what you used to. You can work with the lender to modify the loan, but this will usually increase your interest rate.
Real Estate Assist isn’t a debt review or counseling company, it’s a debt consolidation company.
Get in touch with us to discuss your situation as the solutions provided differ with everyone’s situation.