To whom it may concern Which should be you
You have received A NOTICE OF ELECTION & DEMAND (NED) pending foreclosure on your home. In that notice you were notified that your home will be put up for auction by the local county treasure/trustee
You have a couple of choices
1. You can ignore the FACT that in about 110 to 125 days your property is going to be sold at auction and be bought at around 60% to 70% of its market value. Or even worse below what you owe and
have the mortgage holder come after you for it.
2. Be proactive, send in the notice of intent to CURE to find out what amount is needed to stop the
foreclosure process
3. You can put the property up for sale and get some of the equity funds to go forward with your life
4. A property can be on the market at the same time you are finding out the CURE amount. Which is a
smart way of using the time limit that you have been given.
You can put it up for sale as a For Sale by Owner, or you can contact a Real Estate professional to do
it. There is no cost to you for them to put it on the market.
Think of a Real Estate Professional as a gatekeeper for your interest.
Procrastination currently is not your friend
The realty is that if it takes 30 to 40 days to get an offer on a home and 20 to 30 days for their loan to be approved. That is 50 t 70 days or 60% of the time that you must sell your home. What is the best use of this time that you have been given?
If you do have or are able to come up with the funds for the CURE in time. Then the foreclosure is stopped, and the terms of the loan remain the same and you can go on with your life.
When a property goes to auction the starting bid is put in by the bank and cannot be more than what is owed on the property. People who bid at auctions are looking for a deal and are not paying market value on the property
Many are professional investors who know what the market value is. Are buying them either as a rental or a fix and Flip. Their maximum bid is somewhere between 60 to 70 percent of market value
So why let these people have a chance to profit from your misfortune?
Be proactive, engage outside help and have a plan.
In today's world there are many things that are not "DO IT YOURSELF"
Brain surgery, Car repair, plumbing
and when we do it ourselves many times things go south
SURVIVING A FORECLOSURE IS NOT A DIY PROCESS
THOUGHTS TO PONDER IN LIFE
Al Capone
In order to succeed in life
You need three things
A smile, a gun and a plan
If you must give one up, give up the gun
If you must give up two, give up the gun and the smile
But NEVER NEVER give up the plan
THOUGHTS TO PONDER WHEN IN FORCLOSURE
In order to survive a foreclosure
you will need three things
Be proactive, get outside help and a plan
If you must give up one, don't be proactive
If you must give up two, don't be proactive and get outside help
If you go with just a plan, then you must likely will not survive the foreclosure
BE SMART AND GET ALL THREE
