In times of financial crisis you will find you are still being expected to pay the monthly mortgage, despite the fact that you may clearly have little or no hope of meeting these payments. A mortgage payment was no doubt agreed and signed off at the time when you were probably working and earning a salary that could easily cover these monthly repayments.
Since the economic meltdown of 2007 many homeowners across the US have lost their properties through foreclosure and repossession orders enforced upon them from their lenders. It really is an awful tale and one that is repeated across America every single day. When the housing market crashed and the economy took a nosedive, it was like a double whammy for millions across the nation.
First, the housing market crashed and any value homeowners had gained in the few short years since taking out their mortgages were wiped away when house values began to slide. Then the economy faltered and companies in a desperate need to save money began to lay people off and hand out redundancy notices. So, people were not only losing their jobs but were also losing the equity that had been building up on their homes.
Suddenly people were forced to dip into their savings to try and make ends meet and all the while the mortgage monthly repayments amounts remained the same. Inevitably, lenders were forced to repossess a number of homes that owners could no longer afford. Lenders do not take the foreclosure route easily, they would like to find a solution, it is better for them as it is for you. At Cash Buyers NYC, we can stop foreclosure by buying your home or apartment for cash and having the money inside your bank account within 14 days, often less.
Once these funds are safely tucked away in your bank you can give the lender the outstanding amount and avoid the entire negative financial consequences that foreclosure will inevitably bring. The benefits of stopping foreclosure is that you will not have to impact on your credit rating (this may be important next time you want to buy a new home at a later date), the psychological damage and depression that foreclosure can bring about.
Cash Buyers NYC can stop foreclosure by arranging to buy your home and guiding you through all the finer details of how you can settle up with your lender and make everybody happy.