In difficult times, a lot of homeowners might get behind their mortgage payments. The first thing that happens when you are behind on payment is that the bank will send you a notice stating that you are behind on payment. If it continues, bank will send you a notice of default (NOD), which means that they can take action on the property.
It’s important that you contact your bank right after you get your first notice. In this way, you can talk about some alternative ways with your bank. But if it’s too late and you realize that you can no longer keep up with the mortgage payments, you have the option of going for a short sale as the best course of action. A short sale is defined as a pre-foreclosure sale of a property. It will allow you to deal directly with your buyer without the involvement of a sheriff or court as it could be in the case of post-foreclosure.
We have saved a lot of homeowners in Pittsburgh from getting into foreclosure situation. If you are also contemplating selling your home in a pre-foreclosure state, we can help by buying your property “As-is”. Give us a call at 412-944-2546 or fill in the form below if you want us to visit your property and give you a cash offer.