Selling a Home in Pre-Foreclosure in Pleasant Hill, MO
Selling a home in pre-foreclosure in Pleasant Hill, MO. If you are facing foreclosure and are worried about losing your home and having an enormous hit on your credit score, know that there are options available to you. Evervest Home Buyers is a cash house-buying company that buys Pleasant Hill, MO homes in foreclosure. Our buyers are personable and discreet. We can have an estimate ready for you just by looking at pictures, have a full offer for you in a matter of days, and close in as little as month – before the bank sells your house. Speak to a representative at (816) 368-8508 or contact us online to avoid foreclosure. Depending on how much you owe, we may even be able to put enough cash in your account to pay for your next move.
Call & Get a Fast, FREE Cash Offer!
We pay a FAIR price. Text us photos of your home and get a fast, free cash offer in as little as 60 minutes. We make it easy to get a fast, free estimate.
Link will dial Evervest's number.
How Foreclosure Happens in Pleasant Hill, MO
Pre-foreclosure begins when you first miss a payment, and ends when your lender takes official action. It typically happens in five stages:
- Payment default — You’re technically in default after the first month you missed a payment on, or once you pass your lender’s grace period. After each of the first two missed payments, your bank will likely reach out with a letter or phone call. If you’ve only missed a month or two, the lender will likely be willing to reach an agreement with you to bring your balance up to date. Federal law requires lenders to discuss loss mitigation options with you.
- Notice of default — After 90 days of missed payments, the lender will send you a notice of default, telling you how much you owe and informing you that you have 30 days to bring the mortgage current. Federal law dictates that lenders must wait 120 days from the first missed payment to begin official action.
- The lender officially begins foreclosure — If, after that period has ended you haven’t brought your mortgage up to date, the lender will take action with either a judicial foreclosure or a nonjudicial foreclosure. In a judicial foreclosure, the lender sue you in civil court. In a nonjudicial foreclosure, they’ll proceed out of court, but they must follow the regulations set by Missouri law.
- Sale of the home — In either case, the house will will be sold in a public option. The lender will set a minimum bid which accounts for their appraisal of the home, the debt that remains unpaid, and any fees or unpaid taxes.
- Eviction — Once the home is sold, you’ll have a three to 30 day period to move out. If you remain in the home, the new owner can file an eviction lawsuit against you.
While the foreclosure process may seem cruel, there are a few different ways you can lessen the consequences for yourself.
How to Stop Foreclosure in Pleasant Hill, MO
You have a few options whenever you’re house is in pre-foreclosure or foreclosure in Pleasant Hill, MO:
Reinstate the Loan
Reinstating a loan usually involves paying off the past due payments and any other penalties or fees. Once the loan is current you will be required to continue making regular payments as outlined in the loan agreement.
You need to be aware that reinstating a loan does not forgive the past-due payments and penalties that were incurred, it just brings the loan current. If you are unable to maintain the payments. It’s possible to take out a loan with a different lender, but the interest rates will likely be high, and you’ll have to keep up with the payments in addition to your mortgage.
Deed in Lieu of Foreclosure
In a “deed in lieu,” you can agree with the lender to voluntarily transfer ownership of the property to them, in return they will discharge your obligation to pay the mortgage. Your credit score would not take a hit, and the lender wouldn’t have to deal with the nuisance the foreclosure process. The lender can then sell the property, or keep it and have tenants in it, but you would still be evicted.
Bankruptcy
Filing for bankruptcy is a way to get relief from overwhelming debt. If you go the bankruptcy route, you’ll still have to pay off your debt, but with a more realistic payment structure. There are two types of bankruptcy you can file:
Chapter 7 Bankruptcy
If you choose Chapter 7 bankruptcy, you will not have to pay off your remaining debt if the lender completes foreclosure, and you can remain in the home during the process for free. The goal of this is to give you a few more months to plan your future.
Chapter 13 Bankruptcy
If you choose Chapter 13 bankruptcy, you may be able to not give up your home. You’ll have to stick to a payment plan – overseen by a court-appointed trustee – that allows you to pay off your debt in three or five years.
Bankruptcy has severe drawbacks, however. First, you’ll need to show that you are eligible for it, and all your debts, expenses, and income will be analyzed. You’ll also incur considerable court costs and fees for bankruptcy lawyers. If you’re having difficulty keeping up with mortgage payments, bankruptcy still may be too expensive.
Sell Your Home in Pre-Foreclosure
An alternative to the above options is to find a buyer and settle your outstanding debts with the money. There are a couple different ways to do this:
- Short sale — Lenders are obligated to consider any offer made on your Pleasant Hill, MO property. In a short sale, the offer on your Pleasant Hill, MO home in pre-foreclosure is less than the amount you owe. The lender can then decide if getting less than what you owe is worth not having to deal with the hassle of a foreclosure. A short sale can negatively impact your credit score, but not to the extent that a foreclosure does.
- Standard sale — If a prospective buyer offers more than your remaining mortgage, you can accept that offer, use the money to pay off your mortgage, and pocket the rest.
You can choose to hire a real estate agent to sell your home in pre-foreclosure, but the foreclosure process takes between 45 and 60 days. Based on research by the St. Louis Federal Reserve, selling a house on the traditional market takes over three months, and that doesn’t account for the time it takes to prepare the house for sale. If you’re in pre-foreclosure, selling to an as-is, cash home buyer is likely preferable to a traditional buyer. Once you accept our offer, we can close as quickly as you need us to.
How Our Pleasant Hill, MO Cash Home Buyers Can Help With Your Home in Pre-Foreclosure
Evervest Home Buyers buys homes with all cash offers, and always want to give Pleasant Hill, MO residents a hassle-free home selling experience. We buy all types of properties, from houses in probate to houses with lead or asbestos.
We buy properties “as-is,” which means that homeowners do not have to make expensive repairs to the property in order to sell it. You also don’t have to do open houses and wait to find a buyer. We can help you in selling your home in pre-foreclosure by:
- Giving our best possible offer fast — If you upload photos of your home, we can give you an estimate within an hour. Then, we’ll schedule an inspection, where one of our buyers will perform their own inspection. You don’t even have to pick up the socks off the floor before we show up. We always try to offer as much as we can for a house in Pleasant Hill, MO while still seeing it as an investment for ourselves.
- Giving you a stress-free home sale — We understand that your Pleasant Hill, MO home being in pre-foreclosure is stressful, and you may be emotional about leaving your home. We’ll make everything as simple as we can so you don’t experience any additional stress. Unlike other cash home buying companies, we have no loopholes in our contract. We’ll show you proof of funds so you don’t have to worry.
- Getting you money fast — While the bank would likely prefer it if you sold your home instead of them having to foreclose on it, they’ll still move to take over and sell the house as quickly as possible. We can help you sell your house fast. You don’t have to deal with or wait around for third parties. As licensed real estate brokers, we can perform the closing ourselves, as soon as you need us to after you agree to our offer.
- Saving your credit score — Having a home in pre-foreclosure does not effect your credit score. However, if the foreclosure is completed, it can have massive consequences for your credit score, that will stay there for 7 years. While you won’t get to keep your home if you sell to us, we can help you avoid the financial pitfalls of foreclosure.
Other properties we buy in Pleasant Hill, MO include:
- Selling a House in Poor Condition
- How to Sell a House That Needs Major Repairs
- Home Investors
- Sell My House
- Cash for Homes
- Cash Home Buyer
Selling Your Pleasant Hill, MO Home in Pre-Foreclosure | Evervest Home Buyers
No one likes foreclosure – not even mortgage companies. Selling your home in pre-foreclosure can be an agreeable solution for everybody involved. Our buyers are cordial and discreet, and can help you pay off your debt and save your credit score. We’ll make a fair cash offer on the property, close on your home fast, and assist with the legal and financial aspects of the sale. If your Pleasant Hill, MO home is in pre-foreclosure, call Evervest Home Buyers today at (816) 368-8508 or tell us about your property online.