Pre-Foreclosure Doesn’t Have to Ruin Your Future
If you’re behind on mortgage payments and have received a Notice of Default, don’t panic. Pre-foreclosure is a serious situation, but it doesn’t mean you’re out of options.
Your home is one of your most valuable assets, and losing it to foreclosure could impact your financial future for years. But the good news? There are solutions available—whether you want to keep your home or sell it before it’s too late.
How Pre-Foreclosure Works: A Quick Breakdown
Pre-foreclosure typically follows these steps:
1️⃣ Missed Payments – After 3-6 months of non-payment, your lender issues a Notice of Default (NOD).
2️⃣ Pre-Foreclosure Begins – You have a window of time (usually 90 days) to resolve the situation before the lender starts foreclosure proceedings.
3️⃣ Foreclosure Auction – If no action is taken, the lender moves forward with an auction, where your home is sold to the highest bidder.
4️⃣ Eviction & Credit Damage – If the home is foreclosed, you’ll likely face eviction, plus a 7-year hit on your credit report.
✅ But here’s the key: You can still take control before foreclosure happens!
Option 1: Work With Your Lender
Mortgage lenders don’t want to foreclose on your home—it’s expensive and time-consuming for them. If you’ve hit a rough patch financially, reach out to them as soon as possible.
Most lenders are willing to work with homeowners through:
✅ Loan Modifications – Adjust your mortgage terms to make payments more manageable.
✅ Forbearance Plans – Temporarily reduce or pause payments while you recover financially.
✅ Repayment Plans – Catch up on missed payments over time rather than all at once.
Real-Life Example:
Sarah, a homeowner in Texas, lost her job and missed four mortgage payments. She contacted her lender, who offered a forbearance plan, allowing her to delay payments for three months. She was then able to resume her payments and avoid foreclosure.
Tip: The earlier you contact your lender, the better your chances of negotiating a plan that keeps you in your home.
Option 2: Sell Before Foreclosure Hits Your Credit
If keeping the home isn’t an option, or you’re ready to move on, selling before foreclosure can help you:
✔ Avoid major credit damage (foreclosure stays on your report for up to 7 years).
✔ Eliminate legal fees and stressful court proceedings.
✔ Walk away with cash rather than lose everything to the bank.
At AML Homes LLC, we specialize in helping homeowners in tough situations. If you need to sell fast, we can make you a fair cash offer and close within days, with no realtor commissions, no hidden fees, and no repairs needed.
Real-Life Example:
Mark was facing foreclosure in Texas. He had lost his job and couldn’t afford his mortgage. Instead of letting the foreclosure ruin his credit, he sold his house to us for cash and walked away with enough money to start fresh.
Frequently Asked Questions (FAQ)
Q: How long do I have before foreclosure happens?
A: This depends on your lender, but most foreclosure processes take 90 days to several months. Acting quickly gives you more options.
Q: Can I sell my home even if I’ve received a Notice of Default?
A: Yes! As long as the foreclosure sale hasn’t taken place, you still own the home and can sell it.
Q: Will selling my house hurt my credit?
A: Selling before foreclosure is much better for your credit than allowing the foreclosure to proceed.
Q: How fast can AML Homes LLC buy my house?
A: We can close in as little as 7 days, depending on your situation.
What’s Next? Take Control Today
If you’re in pre-foreclosure, time is critical. The longer you wait, the fewer options you’ll have.
📞 Call or text us now: 940-255-7227
📩 Email: [email protected]
💡 Need more details? Watch our video on pre-foreclosure help: Watch Now
Don’t let foreclosure dictate your future—you have options. Let’s find the right solution for you today.