eric@thewolfpact.co
Challenges in Property Matters
Sometimes when a homeowner is behind on loan payments and is facing foreclosure, they will declare bankruptcy. When this happens, the lender will file a motion with the bankruptcy court to have the bankruptcy stay on the home lifted (because the owner is not paying the loan). At this point the stay is lifted and the home goes back into foreclosure and to auction. Thus, bankruptcy can be an effective, although only temporary delay of a foreclosure.
The disadvantage of declaring bankruptcy is that the vast majority of homeowners that declare bankruptcy to stop a foreclosure end up getting a bankruptcy AND a foreclosure on their credit. This is because a bankruptcy only DELAYS the foreclosure, and does not prevent it. Also, fees and missed payments pile up during bankruptcy making foreclosure more likely and less preventable.
If a homeowner’s financial problems can be mostly resolved by selling their home, a short sale or other options for the seller are much better than a bankruptcy
Unfortunately – a bankruptcy attorney will rarely tell clients this! Most homeowners that consult only a bankruptcy attorney when looking for solutions to avoid foreclosure will end up concluding they have only one option – declaring bankruptcy and getting a foreclosure even though both might have been avoided.
Bankruptcy is a big decision. Before (or in conjunction with) exploring this option, make sure you talk to a creative real estate investing professional about all of your options! Regardless of your situation, income, or equity, if you would like to discuss all of your options for selling your home quickly to avoid foreclosure, please contact us.
The disadvantage of declaring bankruptcy is that the vast majority of homeowners that declare bankruptcy to stop a foreclosure end up getting a bankruptcy AND a foreclosure on their credit. This is because a bankruptcy only DELAYS the foreclosure, and does not prevent it. Also, fees and missed payments pile up during bankruptcy making foreclosure more likely and less preventable.
If a homeowner’s financial problems can be mostly resolved by selling their home, a short sale or other options for the seller are much better than a bankruptcy
Unfortunately – a bankruptcy attorney will rarely tell clients this! Most homeowners that consult only a bankruptcy attorney when looking for solutions to avoid foreclosure will end up concluding they have only one option – declaring bankruptcy and getting a foreclosure even though both might have been avoided.
Bankruptcy is a big decision. Before (or in conjunction with) exploring this option, make sure you talk to a creative real estate investing professional about all of your options! Regardless of your situation, income, or equity, if you would like to discuss all of your options for selling your home quickly to avoid foreclosure, please contact us.
Generally you consult with a Bankruptcy attorney and complete the paperwork and they file it with the courts. Attorneys charge different fees for this. We have seen this cost around $2000 for most people (for a fairly simple bankruptcy). Complex bankruptcies will cost more. This is a specialized area of law.
Yes, but only temporarily. Bankruptcy delays a foreclosure until the lender files a motion to have the bankruptcy stay lifted. This almost always happens. During this delay, fees and missed payments pile up making foreclosure more likely and less preventable.
Yes. Contact us and we can discuss other options that might be more suitable with less damage to your life and credit.
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I cannot express enough gratitude to The Wolf Pact for their incredible support during my home selling process. They made everything seem so simple and stress-free, which was a huge relief given the circumstances. The team was compassionate, understanding, and incredibly knowledgeable. They offered a fair cash price for my home ‘as-is’, which saved me a lot of time and effort. Closing was quick, and they were flexible with the timeline, which I greatly appreciated. I highly recommend The Wolf Pact to anyone looking to sell their home quickly and efficiently.
Michael T.
Working with The Wolf Pact was a game changer for me! I needed to sell my property quickly and didn’t have the time or resources to make repairs or stage the home. The team at The Wolf Pact stepped in and took care of everything. They were transparent, honest, and extremely professional throughout the entire process. No real estate commissions or hidden fees, just a straightforward and fast transaction. I’m truly grateful for their help and would recommend them to anyone in a heartbeat.
The Wolf Pact came to my rescue when I needed to sell my property under tight time constraints. The staff was empathetic, efficient, and went above and beyond to ensure that everything was taken care of quickly. They offered me a fair cash deal for my home, without requiring any repairs or cleaning, which was exactly what I needed. The closing process was swift, and they worked around my schedule, making everything as convenient as possible. I have nothing but praise for The Wolf Pact and would recommend them to any homeowner looking to sell fast and hassle-free.
The Wolf Pact, All Rights Reserved @ 2024
(936) 520-1610
eric@thewolfpact.co
Las Vegas, NV 89121
(936) 520-1610
eric@thewolfpact.co
Las Vegas, NV 89121
The Wolf Pact, All Rights Reserved @ 2024