As the housing market improves, the number of foreclosures should decrease, right?
According to a report, the number of foreclosures could increase as lenders will speed up the foreclosure process, moving homes to be auctioned quicker. This could be a result of more buyers lining up as the prices for houses rise.
After the housing market collapse, some lenders decided to let borrowers keep their homes even though they weren’t paying. These lenders feared they wouldn’t be able to sell the foreclosed houses and pay fines for not maintaining the properties.
“Lenders know there’s now a much better chance they can get those properties sold, so they’re moving to do that,” said Daren Blomquist of RealtyTrac, a real estate data firm.
Don’t let your home become one of the those properties.
At Darrell Castle & Associates, we know you don’t want to lose your home and we don’t want you to either.
Let us help you.
If you’re in debt and behind on your mortgage payments, don’t live with the fear of foreclosure. A Chapter 13 bankruptcy can stop the foreclosure while allowing you to pay back the past due debt with a payment you can afford.
We understand bankruptcy can be frightening at first, but it really shouldn’t be. If you’re overwhelmed with debt you can’t pay and it’s affecting your life, a bankruptcy is your opportunity for a fresh start and a strong financial foundation.
We offer a valuable program, free for our clients, that will teach you how to re-establish and rebuild your credit the right way after a bankruptcy.
If you’re interested in keeping your home, refreshing your finances and rebuilding your credit, talk to us.
If you have any questions or if you’re considering filing for bankruptcy, please contact us today, either online or by calling us at (901) 327-2100.