For most of us, home foreclosures or the possessions that we have accumulate over the years in our homes, represent our net worth. Sometimes due to financial problems, we have missed payments or want to get it over with to make a fast sale. But they are just a numbers game, what we have probably spent years into retirement and will eventually give us cash on the deal. It is more of a long-term arrangement than an investment Bubblek HDMI dependence, I Forest. These are the weird type of break-ups that can make so much sense to younger folks.
Many are finding themselves this situation, especially in their younger years. Should they just let it go and walk away from their home, because there’s so much they will lose? Should they try to force a foreclosure so they can avoid paying the fees and penalties that will surely come because of this situation? To avoid spending the rest of their lives paying for their dreams without actually owning them? Foreclosure is not a win-win experience, unless somehow that “hecreatery” changes income in some way, doesn’t it?
I personally discussed a foreclosure situation with my attorney and was just as thrilled and nervous as the rest of the family. I never want to part with my home and I haveworked hard, dedicated my life to wanting to own my home and stop paying rent for the rest of my life, but in this day and age with the recession and credit crunch, making that home “free and clear” can be quite a daunting and stressful task. And if my definition of a “lump of coal” means losing all your home equity(and a load of medical bills to boot) is just a part of life… well, maybe not quite a mold of life, but definitely not good.
On the flip side of that coin is living with the loan collectors whilePP remained in my name. I understand now that this is just part of most peoples’ lives. In essence, it could be considered a blessing that we have been hit by major hurricane and not have our homes foreclosed on. Life seems to go round and round to the point where we can never seem to stop moving from place to place.
Any of the above cases could be just the beginning of our troubles. We could also have a Regionally Based Company take over your home, once you sign the purchase agreement(purchase agreements are a legal contract against the home and the lender to sell your home as stipulated in the contract and do so in a timely manner). One of the possible ways this could take place is your loan could be bought out with the assistance of a large investor or a bank. Once the purchase agreement is signed, they must approve your sale so that you can no longer live in the house.
The one positive thing about all of the above is that our local, Missoula Homeowners Union and the Federal You can defenses are there to help you and protect your home. You can also call our office at 816-ocated-for-free and you might even be able to schedule a free personal meeting to discuss your question and contingency requests. Most importantly, teaching them about landlording and managing their investment moving forward is an excellent lesson for all of us.
One of the many questions that I really like to answer is –” how can I invest in the house to capture income should I lose it in the future?” and if you would like to know more about how to invest in your home and protect the equity, send me an e-mail, firstname.lastname@example.org. I am happy to assist you in knowing how and why investing in your own home is a good idea to take advantage of your investing dollars… Looking for more things on how to invest in your home and protect your equity through a traditional refinance, visit my website at the links below.