Walk Away?
2 things to NEVER do when
your underwater or behind in mortgage payments …and one guaranteed solution
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Walk Away Solutions for Your Mortgage Crisis
Sometimes life deals hard blows. Job loss, illness, divorce, falling property values: all of these and more can destroy your ability to make payments. You’ve been knocked down today. You don’t have to stay down, but to get up and walk away…
You need to act fast…
My friends in the mortgage industry tell me that the worst possible thing they can see on your credit report is a foreclosure. It creates an even bigger mark against you than bankruptcy and can prevent you from owning another home for up to ten years after you walk away. So the first thing you need to do to get on your feet is sell that house quickly avoid foreclosure, and walk away without worries.
Two wrong ways… one right way
You could let it go to foreclosure…
Foreclosure is option…in fact, it’s inevitable if you don’t act now. If you don’t make up your back payments, eventually someone will knock on the door and tell you the bank now owns your home. For some this is a chance to live rent and payment free for several months and put away some money for a deposit on a rental home. But again – the effect on your credit rating is dire.
In addition, you run the risk of a huge financial obligation that will follow you around forever after you walk away. When the bank sells your house at a loss because the market has fallen, they may be able to come back and sue you for a “deficiency” judgment….which is the difference between your mortgage balance and the dollars they collected from the sale of the house. It isn’t fair, is it? The bank takes back the house AND can sue? I’ll show you how to avoid this in a minute…but before that, let’s look at the other wrong way…
You could list your home for sale on a Short Sale…
This is a BAD idea. That’s right…I am telling you NOT to list your property for sale as a short sale…and I’m a real estate investor! Why would I say that? Well, the truth is that almost all short sale properties end up as a foreclosure anyway. It’s true! This is the dirty little secret that other agents won’t tell you, but it is the truth!
Short-sales fail for several reasons. The banks are unresponsive. Potential buyers get frustrated and walk away. The bank sets the price too high and is inflexible. If you have a second mortgage, they often interfere with the sale. Buyers don’t want to waste time dealing with the hassle of a short sale, so they walk away. The list of problems goes on and on……and that is why almost 90% of short sale properties end up as foreclosures!
Instead, call me. Because I have a GUARANTEED buyer for your property, so you can walk away without worries.
What you need right now is a buyer…someone to come in and take the problem property off your hands, so you can walk away. I have that exact buyer ready to close on your property in 10 days or less. AGAIN, I DO NOT WANT TO LIST YOUR PROPERTY. I have developed a long standing relationship with a national buyer, who is willing to work with you personally, and is able to move very quickly.
My buyer is able to purchase your mortgage notes directly from your bank. I know you may not understand what that means right now, butyou need to understand the benefits. When they acquire your property, they are able to protect you from a deficiency judgment completely. You will avoid foreclosure, and be able to walk away from this difficult situation in 10 days or less, guaranteed.
Their offer to purchase your property will not last long…act NOW!
So call me, JOAN, TOLL FREE: 866.524.3335. Or, email me at contact@eichomes.com, so I can get you the details of their offer. Time is of the essence! They are only acquiring 10 properties in specific areas, and once they are done, you will be out of luck.
I look forward to hearing from you.
Joan 866.524.3335 or contact@eichomes.com
Does your property qualify?? Lets first review excluded property types, conditions and areas of the country. We are not currently accepting walk away properties from the following states UNLESS the property rents for at least $800 per month, and in pristine condition with absolutly NO deferred maintenance.
Alabama, Arkansas, Connecticut, Iowa, Kentucky, Louisiana, Michigan, Missouri, Mississippi, North Carolina, Pennsylvania, South Carolina
As a rule for all states, these types of properties are not accepted:
NO mobile homes (manufacture home on a foundation is OK), raw land, commercial properties, 55+ community properties, or ‘seasonal rental’ properties
We also do not accept properties with these conditions or circumstances:
No Fixer or ‘handyman special’ properties. **No ‘emergency foreclosure rescue’ properties (see below). No overly-agressive HOA’s (HOA’s that try to foreclose, or to take posession of properties, or take away gate keys, etc). No properties in extremely rural areas. No urban decay areas of the country. No deadbeat tenants…or pending evictions. No outstanding water/sewer bills (seller must pay these to have the property accepted before you walk away). No properties built prior to 1960 (unless renovated recently). No empty or non-operating pools.
Now that we’ve gotten all the exclusions out of the way, here’s the good news:
YES properties where you are behind on payments and want to walk away. No need to make up back payments. NOTE – you do NOT have to be behind on payments for us to acquire your property. We can acquire when you just missed your first payment, or have decided to stop making payments, but are still current. In fact, the earlier the better!
YES existing tenants. We will assume management and honor the tenant’s lease
YES vacant homes are OK
YES single family residences, condos, townhomes, vacation homes, multiplex (up to 4 units), manufactured homes on a foundation
YES properties with a minimum market rental rate of $800 or more
**Q: My property has a foreclosure date scheduled. Can your company still buy my property?
It depends. Mostly, not. It takes time to negotiate with the lender so the foreclosure can occur during the negotiation process.
If you are a real estate agent, we only accept listings for a walk away purchase where there is NO SALE DATE scheduled. In a non-judicial foreclosure state, that means prior to the notice of trustees sale. In a judicial foreclosure state, that means prior to the motion for summary judgment. Many times our agent affiliates throw us a hail mary at the end of their listing cycle, hoping that we can do an emergency foreclosure rescue and save their comission. That’s not how we work. We need time to implement the legal steps early on, prior to a sale date being scheduled on your listing. For complete details on how we work with agents, click the ‘Affiliates’ tab at the top, sign up (it’s free) and get complete instructions and details
If you are an owner selling to us without a real estate agent, our acquisition requirements are more lenient. We can accept the property as long as the sale date is at least 60 days out, but it is ALWAYS better to submit the property sooner, rather than waiting. The longer you wait, the harder it is to settle with the bank. The best time to submit the property is early on, when you have missed your first payments, or are about to miss your first.
NOTE: EICHomes.com markets for the nation’s largest buyer of short sale and over-leveraged real estate. It’s a real estate acquisition company that provides distressed homeowners a viable walk away solution. Neither entity provides foreclosure services, such as strategic default assistance, loan modifications or any other foreclosure or legal service of any kind.
