Stopping Foreclosure in San Antonio, Texas

Facing foreclosure can be a pain for most. If you’re not sure what to do when it comes to foreclosure, don’t worry – I got your back.

In this article, we will look at how to stop foreclosure in San Antonio, Texas. Most people aren’t aware that there are several ways you can avoid foreclosure and sell your house before it goes to auction. Foreclosure prevention doesn’t have to be a difficult process.

First thing’s first.

Why does foreclosure happen?

courtyard shot of the apartments in San Antonio, Texas

There can be several different reasons why someone is unable to meet the financial requirements of their property and it is often involuntary and completely unpredictable, which can bring a lot of stress to the seller.

If you were unexpectedly fired or suffer a medical condition, if you face debt, going through a divorce or relocate to a new state and are in a tough financial situation, foreclosure is bound to happen on your property.

Although voluntary foreclosure doesn’t happen often, some house-owners do simply give up on their property if the value significantly drops – this often happens in small towns or even islands where the tourism is no longer working.

First steps you need to take to avoid foreclosure:

Take a look at the Department of Housing and Urban Development’s Foreclosure Avoidance Counseling list and select a counselor that will be able to assist you free of charge. If you are able to make payments, please do so. If not, talk to your lender and make a repayment plan.

Did you know there are several programs specifically aimed to avoid foreclosure and keep your home? Check out the Making Home Affordable program which offers lower monthly payments on your financial plan.

Ways of stopping foreclosure in San Antonio

So how do you stop foreclosure? Here’s 5 different steps that will help you avoid foreclosure.

1. Stay calm.
Before you make any quick decisions, weigh out all your options. Start the research.
2. Contact your lender
Rather than avoiding the situation, contact your lender and come up with a financial plan on how you will be able to do the foreclosure rescue. If you’re aware before hand that your payments might be late, you need to let them know.
3. Workout options
We’re not talking about fitness – your lender can provide you with options that will workout your loan arrangement. From a modification, repayment options, reinstatement, to even claiming bankruptcy, you will be provided with certain options that may work in your favor.
4. Refinance!
You are able to modify your loan and start with low payments and gradually move on to higher to compensate the difference.
5. Sell your property.

stop foreclosure by selling your house fast

Claiming bankruptcy

Bankruptcy is one of the most secret ways you can prevent foreclosure. It is often not mentioned in the most basic foreclosure prevention tactics. However, it is by far the best option if everything else fails.

How filing bankruptcy can help?

It delays the foreclosure process by several months, buying you enough time to come up with a financial plan.

Filing Chapter 13 or Chapter 7 bankruptcy enables the automatic stay order. Automatic stay order simply means that your creditors are unable to collect money from you instantly. This is the best way to legally postpone foreclosure as the bankruptcy goes through the pending process for 3 to 4 months.
Please note that this time might be shortened if your creditor takes things to court and is able to proceed the sale. Bankruptcy must also be considered before the notice of foreclosure is given, otherwise the creditor will be able to proceed with the sale.

Chapter 13 vs Chapter 7 bankruptcy

Chapter 7: To qualify, you must have very little financial income. Your credit card and medical bill debts will be erased.
Chapter 13: In the case of foreclosure, chapter 13 bankruptcy will usually apply. You will have a certain amount of income and will be able to create a repayment plan with your assets while still keeping your property.
Nolo offers an excellent insight into the Chapter 13 vs Chapter 7 bankruptcy, which includes a simple table to explain the differences.

buyout plan

Other ways to stopping foreclosure in San Antonio

Pre-foreclosure sale, aka short sale.
Pros: You will be able to sell you home and get a sum of money in return.
Con: The value of your property will be significantly lower and your credit score might suffer.

Deed in lieu
Pros: You sell your home to the bank where you took out your mortgage.
Cons: Lower value and the loss of your home.

Not happy with these options? Looking to sell your property? Why not sell to a cash home buyer?

Sell to a cash home buyer

Selling your home to a cash home buyer is becoming a popular way of stopping foreclosure. Not only are you able to sell your home fast – when you call, the offer is usually given within 24 hours and your home, if needed, can be sold in just 2 days.

Pros of selling to a cash home buyer:

  • Fast sale
  • You get cash in hand
  • No need to worry about repairs
  • Quick and efficient

Although it is known that cash home buyers are usually able to offer less money than the value of your home, you are going to save money on closing costs ($750+) as well as other expenses which include repairs.

When it comes time to get paid, you should get the option of getting a check or having the money wired into your bank account.

Even if you don’t sell to Danny Buys Houses, feel free to ask us any questions you may have regarding selling your house. Give us a call now at 210-610-2511.

Check out our testimonials and get in touch today!

66 Responses

  1. I’m really impressed with your writing skills as well as with the layout on your blog. Is this a paid theme or did you modify it yourself? Either way keep up the excellent quality writing, it’s rare to see a great blog like this one today..

  2. My spouse and i have been quite more than happy Chris managed to carry out his research with the ideas he grabbed using your blog. It is now and again perplexing just to find yourself offering key points which usually the others may have been making money from. So we discover we now have the writer to be grateful to for this. The specific illustrations you made, the easy blog navigation, the relationships your site help to promote – it is mostly impressive, and it’s really letting our son in addition to our family consider that that issue is brilliant, which is really essential. Many thanks for everything!

  3. Definitely believe that which you stated. Your favorite reason appeared to be on the internet the easiest thing
    to be aware of. I say to you, I definitely get irked while people think about
    worries that they just don’t know about. You managed to hit the nail upon the top and also defined out the
    whole thing without having side effect , people could take a signal.
    Will probably be back to get more. Thanks 0mniartist asmr

  4. First off I want to say superb blog! I had a quick question which I’d like to ask if you
    don’t mind. I was interested to know how you center
    yourself and clear your thoughts before writing. I’ve had difficulty clearing my thoughts
    in getting my ideas out. I truly do enjoy
    writing but it just seems like the first 10 to 15 minutes are wasted
    just trying to figure out how to begin. Any ideas or tips?
    Kudos! asmr 0mniartist

  5. Hey! This post couldn’t be written any better! Reading through this post reminds me of my previous room
    mate! He always kept chatting about this. I will forward this page
    to him. Pretty sure he will have a good read.
    Thank you for sharing! asmr 0mniartist

  6. Heya i am for the first time here. I found this
    board and I find It truly useful & it helped me
    out much. I hope to give something again and aid others such as you helped me.

  7. Hi are using WordPress for your site platform? I’m new to the blog world but I’m trying to get
    started and create my own. Do you require any coding expertise to make your own blog?
    Any help would be really appreciated!

  8. When someone writes an piece of writing he/she maintains the image
    of a user in his/her mind that how a user can understand it.
    So that’s why this piece of writing is great. Thanks!

  9. Hey there! I’m at work browsing your blog from my new
    apple iphone! Just wanted to say I love reading through your blog and look forward to all
    your posts! Keep up the outstanding work!

  10. We stumbled over here coming from a different web address and thought I might check things out.

    I like what I see so i am just following you. Look forward to exploring your web page repeatedly.

  11. Interesting blog! Is your theme custom made or did you download it from
    somewhere? A design like yours with a few simple tweeks would
    really make my blog shine. Please let me know where you got your theme.
    Thank you

  12. Wonderful beat ! I would like to apprentice while you amend your web site, how could i subscribe for a blog site?
    The account helped me a acceptable deal. I had been a little bit acquainted of this your
    broadcast provided bright clear idea

  13. If some one desires expert view concerning blogging and site-building then i advise him/her to go to see this webpage, Keep
    up the fastidious work.

  14. Do you mind if I quote a few of your posts as long as I provide credit and sources back to your website? My blog site is in the exact same area of interest as yours and my users would truly benefit from some of the information you provide here. Please let me know if this okay with you. Cheers!

  15. scoliosis
    I do consider all the concepts you have offered for your
    post. They’re really convincing and will definitely work.

    Still, the posts are too brief for beginners. May just you please lengthen them a little from subsequent time?
    Thanks for the post. scoliosis

  16. scoliosis
    I have been surfing on-line greater than 3 hours today, but I never found any
    attention-grabbing article like yours. It’s lovely worth enough for me.
    In my opinion, if all webmasters and bloggers made good content material as
    you probably did, the internet will likely be a lot more helpful than ever before.

    scoliosis

  17. dating sites
    Howdy! This post could not be written much
    better! Looking through this article reminds me of my previous roommate!
    He constantly kept preaching about this. I will forward this article to him.
    Pretty sure he’ll have a very good read. I appreciate you for sharing!
    free dating sites

  18. Good way of telling, and nice post to obtain information regarding my
    presentation subject matter, which i am going to deliver in academy.

  19. Greetings! I know this is kinda off topic but I was wondering if you
    knew where I could find a captcha plugin for my comment form?
    I’m using the same blog platform as yours and I’m having problems finding one?
    Thanks a lot!

  20. Greetings from Florida! I’m bored to death at work so I decided to browse your website on my iphone during
    lunch break. I enjoy the info you present here and can’t wait to take a look when I get home.

    I’m amazed at how fast your blog loaded on my cell phone ..
    I’m not even using WIFI, just 3G .. Anyhow, wonderful site!

  21. Good day I am so excited I found your webpage, I really found you by error, while I was browsing on Digg for something
    else, Anyhow I am here now and would just like to say thanks a lot
    for a fantastic post and a all round entertaining blog (I also love the theme/design), I don’t have time to look over it all at the
    minute but I have bookmarked it and also included your RSS feeds, so when I have time I will be back to read a great deal more, Please do keep up the awesome work.

  22. Just wish to say your article is as surprising. The clarity in your
    post is simply great and i can assume you are an expert on this subject.

    Well with your permission allow me to grab your RSS feed to keep up to date with forthcoming post.
    Thanks a million and please continue the enjoyable work.

  23. A person essentially lend a hand to make severely
    articles I’d state. This is the very first time I frequented your website page and so far?
    I surprised with the analysis you made to create this actual put up extraordinary.
    Great activity!

  24. It’s appropriate time to make some plans for the future and it’s time to be happy. I’ve read this post and if I could I desire to suggest you some interesting things or suggestions. Maybe you could write next articles referring to this article. I wish to read even more things about it!

Leave a Reply

Danny was great in helping me close this chapter of my life. He was fast and efficient and closing was done in less than a week. I would highly recommend his service to anyone.

Mary Morris, San Antonio, TX

Get a Cash Offer

We Look Forward to Speaking With You

Danny and Melissa Johnson

Danny and Melissa Johnson Owners and Operators of Danny Buys Houses

Call Danny Now 210-881-7707

5225 McCullough Ave, San Antonio, TX 78212