With an unstable economy and unemployment on the rise, the number of foreclosures on properties are rapidly increasing. Once the foreclosure process begins, there is a limited amount of time to resolve the issue before it becomes finalized and the property is seized by the lending institution and auctioned off for sale. Aside from the unpaid balance remaining on the mortgage, legal fees are also added, increasing the amount to be paid to reinstate the mortgage. Unless the entire amount owed is paid off before the end of the foreclosure process, the property will be siezed and become available for auction.
The process of foreclosure can be resolved if action is taken within the limited time frame available. Durham Investments can provide options to end the foreclosure process once a consultation with the lending institution has taken place. Once the necessary information has been gathered and processed, options are presented to the homeowners to end the foreclosure process and allow them a fresh start.
If you've recently recieved notice that forclosure has been filed against your property, contact Durham Investments immediately so that we can discuss ways to assist you with dealing with the agonizing process. Ending the foreclosure process before it goes to judgement will save the property owners credit history as well. Having a foreclosure on a credit report will remain for ten years and drastically affect future loan rates.
Call 219-659-1098 to set up an appointment for a home visit. At that time, information will be gathered regarding the property and the mortgage held against it. A Loan Authorization Form will need to be signed by the homeowner so that Durham Investments can speak with a representative of the loan institution regarding the reinstatement amount on the mortgage. The process normally takes 10-14 days to acquire all the information and process it. Pending on the situation, options on how to resolve the foreclosure process will be presented.
