These days many people are in a financial crisis, and often foreclosure is looming and bankruptcy seems just around the corner. While a bankruptcy does help you settle your debts and start fresh, it destroys your credit score and often you must sell your possessions. Foreclosure, of course, translates to losing your house and damaging your credit, as well. But there are a few ways to avoid these legal problems even if you are in dire straits.
Being in debt is highly stressful, but the first thing to do is simply sit down and make a comprehensive list of your assets and your debts. Assets include your home, your automobiles, furniture, electronic equipment, jewelry and just about everything that has value. Be sure to list what each item is worth realistically. In addition, write down the names of all the companies and people to whom you owe money, including bills such as cable and utilities, credit card companies, loan companies and friends and family. Take a look at your monthly income and compare how much you spend to how much you take in.
Once you have this list, begin thinking about what items you can cut. If you are about to foreclose or are so deep in debt that you are considering bankruptcy, it is time to make some tough choices. For instance, can you get by with just one family car? Are there other items you can sell to pay off debts, such as jewelry or perhaps a luxury item such as a boat or motorcycle? Eliminate your landline and rather than paying for an expensive cell phone, opt for the cheapest plan possible. Cancel the cable and any extra subscriptions you have, and eat at home, rather than opting for restaurants.
Our mortgage payment is also a huge obstacle every month, and many people find themselves either unable to pay on time or have had to skip payments now and then. If your mortgage is simply more than you can afford, selling your home might be your best bet. It can eliminate a huge chunk of debt and sometimes you might even have a bit extra to help with moving expenses or paying down additional debt.
The downside is that selling your house takes time if you use a realtor or if you decide to sell the home yourself. Realistically, if someone makes an offer the very first day your house goes on the market, it will be 30-40 days before your money comes in and rarely does a home sell that quickly. However, it can be sold very quickly if you go to a real estate investor. These are groups or individuals that buy homes for cash, close the deal quickly, fix up the property and resell for a small profit. They can help you avoid foreclosure and possible bankruptcy simply because they can deliver cash in days as opposed to weeks or months.
If you are trying to stop a foreclosure in Virginia Beach, consider contacting the experts at VA Home Investments. They focus on properties in Virginia Beach and sell houses quickly. They will offer you a fair price for your home and often can close the entire sale in about nine days. Unlike realtors, they charge no fees or commission. If you have a Virginia Beach home to sell fast, a real estate investment company such as VA Home Investments can help.
Being in debt is highly stressful, but the first thing to do is simply sit down and make a comprehensive list of your assets and your debts. Assets include your home, your automobiles, furniture, electronic equipment, jewelry and just about everything that has value. Be sure to list what each item is worth realistically. In addition, write down the names of all the companies and people to whom you owe money, including bills such as cable and utilities, credit card companies, loan companies and friends and family. Take a look at your monthly income and compare how much you spend to how much you take in.
Once you have this list, begin thinking about what items you can cut. If you are about to foreclose or are so deep in debt that you are considering bankruptcy, it is time to make some tough choices. For instance, can you get by with just one family car? Are there other items you can sell to pay off debts, such as jewelry or perhaps a luxury item such as a boat or motorcycle? Eliminate your landline and rather than paying for an expensive cell phone, opt for the cheapest plan possible. Cancel the cable and any extra subscriptions you have, and eat at home, rather than opting for restaurants.
Our mortgage payment is also a huge obstacle every month, and many people find themselves either unable to pay on time or have had to skip payments now and then. If your mortgage is simply more than you can afford, selling your home might be your best bet. It can eliminate a huge chunk of debt and sometimes you might even have a bit extra to help with moving expenses or paying down additional debt.
The downside is that selling your house takes time if you use a realtor or if you decide to sell the home yourself. Realistically, if someone makes an offer the very first day your house goes on the market, it will be 30-40 days before your money comes in and rarely does a home sell that quickly. However, it can be sold very quickly if you go to a real estate investor. These are groups or individuals that buy homes for cash, close the deal quickly, fix up the property and resell for a small profit. They can help you avoid foreclosure and possible bankruptcy simply because they can deliver cash in days as opposed to weeks or months.
If you are trying to stop a foreclosure in Virginia Beach, consider contacting the experts at VA Home Investments. They focus on properties in Virginia Beach and sell houses quickly. They will offer you a fair price for your home and often can close the entire sale in about nine days. Unlike realtors, they charge no fees or commission. If you have a Virginia Beach home to sell fast, a real estate investment company such as VA Home Investments can help.
About the Author:
Evella Clifford loves reading real estate blogs. If you are looking for real estate investor who can help in Virginia Beach sell house quickly, or to find methods on how to stop foreclosure Virginia Beach, please go to the VAHomeInvestments.com site now.