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Avoid Bankruptcy by Selling Your Home
Are You Considering Bankruptcy?
We live in tough times. Gone are the days where we can count on climbing the ladder of success at one, single place of employment. Jobs are more easily lost with good or better work harder to come by. Everything costs more including basic necessities. And a single serious illness can wipe us out financially.
If you’ve come to a point where you cannot pay your bills and are considering filing for bankruptcy to get a fresh start on life, pause for a moment and consider the long term consequences. A bankruptcy notation will stay on your credit report for as many as ten years. It will be an indication to future lenders that you did not pay the debts you agreed to pay.
If you want to get back on that ladder of success after filing bankruptcy papers, you’ll have to count on a long, hard climb.
Avoiding Bankruptcy? You can!
Whether it is your mortgage, a car payment, or a credit card, if you fall behind on a debt, you should always contact your lender to see if you can work out a payment plan. That goes for utility payments and other regular living expenses as well.
You should also be proactive by looking for other means to increase your income such as finding additional work or selling items you own that have value. For example, if are carrying a loan on a pricey car, you may be able to sell it, pay off the loan, and have enough left to outright buy something more modest.
Whatever you can do to reduce your debts will be a plus.
Should I Sell My Home?
Your house may be the greatest item of value you own, especially if you have a fair amount of equity in it. And as much as you may treasure it, selling your home to avoid bankruptcy, not to mention foreclosure, may be the best solution to your financial problems.
If you sell your home, you may be able to pay off the balance on your mortgage and satisfy your other creditors. Most importantly, it may give you that fresh start you want and go a long way to repairing your credit.
We Buy Houses
If you’ve been experiencing financial stress for some time, you may not have the luxury of weeks or months to work with a traditional real estate agent to list your home and show it multiple times. Keep in mind also that a traditional sale will incur closing costs and a commission payment to the agent.
You may also be expected to pay for an appraisal, inspections, and other expenses. A more palatable option may be to sell to a cash investor.
When you call us about selling your house, we’ll visit your property and make an immediate cash offer. Additionally, we can close in as little as seven days. If you’re thinking of selling your home to avoid bankruptcy, saving time and money is of the essence.
Give us a call today and take the first step to getting back on the ladder.