Can I give my house in Oahu back to the bank without an expensive foreclosure?

Can I give my house in Oahu back to the bank without an expensive foreclosure?

Trying To Avoid Foreclosure in Oahu? You may be considering giving your house back to the bank.. is it a wise decision?

Can I give my Oahu Hawaii house back to the bank without an expensive foreclosure?

The answer is YES !  (but with caveats, read below for more details)

There are many ways to avoid an expensive foreclosure in Oahu.

Your first step if you’re trying to avoid foreclosure in Oahu is to speak with your loan provider immediately to examine your choices to prevent home foreclosure.

You have to take action prior to getting too far behind on your mortgage payments in order to halt house foreclosure. You should contact your financial institution once you know you are likely to miss a home loan payment and inform them what is going on with your financial situation.

Your mortgage loan organization would rather work something out with you so they do not generate losses on your property by going through the actual foreclosure process.

You need to be open and honest with your mortgage company.

They may work something out with you that cuts down your rate of interest, which would reduce your monthly payment. In case you miss one or two payments but then are capable of start paying once again, they can usually add those repayments back onto your home loan and consider you caught up on your mortgage. The financial institution will not accommodate you if you do not talk to them about what your situation is ahead of time is and asks for help.

Your mortgage loan bills or your card payments?

You’ll be able to prevent home foreclosure by ensuring you consistently pay your mortgage loan prior to any bills. Your house loan is an essential monthly bill you have. Credit cards should never take priority over your house loan repayment. You can deal with the consequences of not paying your cards a lot easier than you can the implications of failing to pay your mortgage.

Not paying your mortgage loan is the worst thing you can do with regard to your credit score. Getting behind on other sorts of debt like credit cards will never harm your credit as much as getting behind on your home loan. Not paying your mortgage loan could cause you difficulties with your credit cards in any case, so they ought not to be a priority when you have to pay your monthly dues.

Is selling your house in Oahu Hawaii a way to avoid foreclosure?

One way to prevent foreclosure is to try to pay your house loan off by putting up your property for sale.

You could probably be free from the financial hole you are in by selling your house for sufficient cash to pay the home loan off.  And sometimes you may be able to have money left to start over again. This is an excellent approach to prevent foreclosure of your Oahu house and avoid a disaster on your credit score at the same time.

Another way to stop property foreclosure in Oahu is to really cut your spending right down to the bare minimum. If you’re able to reduce your expenses adequately you could avoid having to offer to sell the house you love. For anyone who is self-employed, one method to spend less would be to stop renting an office and make a workplace at home. You could also think about selling a car and having just one that you share.

You can definitely proactively do something to stop your home from going into foreclosure and harming your credit and financial situation even further.

We Buy Local Oahu Houses… Can We Make You An Offer?

Here at Oahu Home Buyers we buy houses in Oahu Hawaii and surrounding areas and we may be able to help you get out of your house and avoid foreclosure.

The process is really simple:

  1. Fill out the form over here, or call us at 808-377-4379 and we’ll make you an offer within 24 hours
  2. If you accept the offer we’ll get the documents drawn up and come out and visit you in your home to go over the paperwork
  3. We buy your house when you want us to (in as little as 14 days) at a reputable local closing agent

That’s it!

Michael Borger

About Michael Borger

Michael Borger is an experienced real estate investment professional with transactions under his belt in multiple states. Michael is trained by the real estate investment professionals from FortuneBuilders and the hit TV show "Flip This House" and is now a mentor in the FortuneBuilders program. His experience and professional, courteous demeanor will help you realize your real estate objectives. When not working, Michael enjoys spending time with his wife Nanae and new daughter Lainey.

Get Started on Your Free Cash Offer Below...

Need more information or want to get started on a Cash Offer for your Oahu property? Just fill in the form below and we'll be in touch immediately.

  • Re-type the words above in the box to verify you're a real person.
  • This field is for validation purposes and should be left unchanged.

,

Comments are closed.