Foreclosure effects in Oahu Hawaii – What sellers need to know

foreclosure effects in OahuForeclosure is a nightmare to any family going through it regardless of the reasons why they are about to lose their home. Today we are going to look at the foreclosures effects in Oahu Hawaii and what local house sellers need to know. First we will look at the effects and the ways of easing them.

Foreclosure Effects in Oahu Hawaii to Sellers

  • Loss of your home – Pretty self-explanatory here. The major end result of a foreclosure in Hawaii is of course the loss of the home to the bank or lender. Not good for anyone.
  • Decrease in Your Credit RatingYour credit rating will be lowered by the foreclosure. How much? It depends on how high your current credit score is… but the higher your current credit score… the more your score may drop after a foreclosure. If you have a credit score of 680 or higher… it’s possible you could see a drop of 100+ points.
  • Depression and Stress – Your mental health is at stake because of the high pressure situation. Going through a foreclosure is emotionally exhausting and frustrating to say the least. If you know anyone who’s been through it, then you know how true this is.
  • House Values In Your Community – Another one of the big foreclosure effects in Oahu Hawaii is that they tend to lower the overall value of the houses in your neighborhood… especially if there are multiple foreclosures in the immediate area.

How You Can Ease The Effects Of Foreclosure In Oahu

For the well being of you and your family, you need to mitigate the effects of foreclosure as much as you can. The process can be frustrating and time consuming, but there are people who can help you navigate your different options in the process.

First…

  1. Call your bank and work with them:  Most banks are very willing and ready to work with you… if you can show that with their help you can get back on track and save your house.  Or, if you just want out of the house but you owe more on the house than it’s worth… see if the bank has any programs to lower the mortgage burden so you can get out from underneath it without it going through an expensive foreclosure.
  2. Talk with a local real estate expert, like Oahu Home Buyers: We know the local Oahu real estate market well and are very experienced in the foreclosure process here in Hawaii.  Give us a call at 808-377-4379 and we can guide you toward the resources that can possibly help you.
  3. Sell your house: If you’d rather find a way to sell your house and avoid the foreclosure all together, great! We buy local Oahu houses for cash… and would love to look at your situation and make you a fair all-cash offer on your house.  Just call us at 808-377-4379 or shoot us your details through this website

With the above knowledge on foreclosure effects in Oahu – what sellers need to know, you can guard yourself by calling Oahu Home Buyers at 808-377-4379 and we shall assist you in the shortest time possible to sell your house. However, to fast track the process, kindly fill out our website contact form to give us more information about you. We’d love to connect with you and help you find the best solution!

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.

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