What happens in a Foreclosure in Raleigh?

foreclosure effects in RaleighWhat happens in a Foreclosure in Raleigh?

Foreclosure is a scary and stressful time for any family, despite the reasons of why they are about to lose their home. Today we are going to discuss how foreclosure can affect you.

How a Foreclosure in Raleigh affects you…

  • Loss of your home – The most obvious result of a foreclosure. The home gets taken over to the bank.
  •  Your Credit Rating will dropYour credit rating will be lowered by the foreclosure. And it can lower significantly. Expect your score to drop 100+ if your credit score was pretty good to begin with.
  • Depression and Stress – Going through foreclosure is stressful at best. It is common for the experience to take an emotional toll on you.
  • House Values In Your Community – Foreclosure affects the community also. It brings down the value of homes within the neighborhood.

What you can do

Many things happen in a foreclosure in Raleigh but here is what you can do today:

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.  They may be able to lower your mortgage payment and add what you owe on the back of the mortgage. If you owe too much on your house, ask the bank if they have an alternative program that would be cheaper than foreclosure.
  2. Talk with a local real estate expert, like CW Buys Houses: We know the Raleigh real estate market well and are very experienced in the foreclosure process here in North Carolina.  Give us a call at 984.444.9399 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 houses for cash in Raleigh… and would love to look at your situation and make you a fair all-cash offer on your house.  Just call us at 984.444.9399 or shoot us your details through this website

With the above knowledge on foreclosure effects in Raleigh – what sellers need to know, you can guard yourself by calling CW Buys Houses at 984.444.9399 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!

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