Behind On Payments?

At Mesquite House Buyers, our aim is to help homeowners with their difficult situations. We believe in treating each individual client with personalized services in solving their home problems, specially when they are behind payments on their Mesquite houses.

The process starts with understanding the unique situation of each client. We know how distressing it can be for Mesquite homeowners to handle situations where there seems to be no solution at all. But it just a matter of realizing that with smart and innovative strategies, you can solve your issues without losing your Mesquite house.

Homeowners, individual realtors, attorneys, and financial planners do not know all of the options available in today’s market. So, we have compiled here a comprehensive list of strategies for Mesquite homeowners who are facing foreclosure.

 

Bankruptcy
Sometimes when a homeowner is behind on loan payment and is facing foreclosure, they have the option to declare bankruptcy. Declaring bankruptcy is a common strategy to temporarily stop foreclosure when a homeowner has unsustainable debt beyond the home mortgage. As a home in bankruptcy cannot be sold or foreclosed, the auction can be stopped or nullified until the lender stays lifted. Read more…

 

Temporary Restraining Orders
A temporary restraining order (TRO) is the best way to stop foreclosure (up to) the day before an auction when a homeowner does not want/need to declare bankruptcy. It is a legal order filed by an attorney on behalf of a homeowner against their lender. What it does is that it allows a brief time period for homeowners to sell a home using other strategies or catch up on the payments. Read more…

 

Deed-in-lieu
A deed in lieu of foreclosure is a potential option taken by mortgagor or homeowner who wants to avoid foreclosure in any way possible. It is a document that transfers the title of property from the property owner to their lender in exchange for being relieved of the mortgage debt. It is usually the last resort when the property owner has exhausted all other options to avoid/delay foreclosure. Read more…

Behind on payments on your Mesquite House?

Sell Property Now

    Forbearance Plans
    Forbearance plans are the best strategy when a homeowner has a temporary financial hardship and does not want to sell the home. It is an agreement made between a lender and the homeowner that allows the former to have a re-payment plan accepted by the lender. It can be structured in several ways, depending on the homeowner’s financial situations and the lender’s reservations. Read more…

     

    Loan Modification
    Load modification is the best option for homeowners who want to keep the home for the long term. This involves modifying one or more of the terms of the mortgage contract so that it is manageable for homeowners, given their current financial situation. It may include modifications such as reducing the interest rate, extending the term of the loan, or adding missed payments to the loan balance. Read more…

     

    Foreclosure
    The last and the worst way to lose a home is through a foreclosure. It is called “the atomic bomb of credit scores” for a reason. It hurts the deepest and lasts the longest. Avoid foreclosure at all cost!

    When a homeowner reaches the end of their patience after trying out every other option, they decide simply to walk away from a home, believing that foreclosure will be the end of their problems. But foreclosure is the start of a bigger problem that brings even additional problems.  It just starts an 10 years of  nightmare that can involve everything from eviction by the sheriff, embarrassment, battling creditors for years, deficiency judgments and lawsuits, possible tax ramifications that can even lead to garnished wages, and difficulty getting credit cards, car loans, or even many types of employment. Read more…