Stop Bank Foreclosure With Flexible Equity Terms

Today's article is about stopping your bank foreclosing. We are wanting people to know that they don't need to sit back and let the banks foreclose. You don't need to be forced into going bankrupt and you don't need to loose everything just because your bank is trying to push you around!

Is it possible to have your bank try to foreclose your home from under your feet, when you nearly own it? Well, as you saw on Today Tonight, that's exactly what one bank tried to do. If you know you can't afford to keep living in your home, due to changes in your income, there are better ways then letting a real estate agent sell your home for a song, or letting the bank foreclose.

Lets say you have at least 50% equity in your home. Well, you probably don't even realise that their are buyers who would fall over each other to purchase your home at full market price. We see buyers all the time who are happy to pay market price, as long as you can be flexible with your terms of sale.

So what do we mean by flexible terms of sale?

In simple terms, you are making it really easy for a buyer to buy your home. As long as they can qualify for a home loan, you can help them get what they want, while they help you get what you want. Your home sold, and fast.

Here is an example:

You have a home that could sell for $350,000 if you had the time to sell it, and no bank tapping you on the shoulder for money. You only owe $175,000 (50% equity).

By using the systems that Dallas & Kerrie use to promote to potential buyers on a daily basis, you get a short list of buyers, who all earn good money and have good credit. They can easily borrow 75% ($262,500) of your asking price of $350,000. The other 25% ($87,500) is vendor financed by you as the seller for 1-2 years to the buyer. You may even decide to charge interest as well. It's up to you.

This would mean that you still have $87,500 in your pocket at the time your sale completes, and you get the other $87,500 in 1-2 years time.

Your solicitor or conveyancer would secure the funds that you lend to your buyer with a caveat on the title, so that the house could not be sold without you being paid what was owed to you.

Is this risky? In most cases, people who earn good income don't have a problem servicing their debts. If you let the bank come in and fire sale your home, there is a real risk that the home gets sold for a song, and all of the equity that you thought you had, can be gone.

Taking matters into your own hands can help you avoid total financial ruin at the hands of your bank.

Dallas & Kerrie come across sales like this all the time, and have experience to be able to show the seller how to achieve the outcome they require, by keeping the banks at bay and making the sale go through with flexible terms.

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