Detroit Cash For Homes Explains Pre-Foreclosure: Everything You Need to Know

Detroit Cash For Homes Explains Pre-Foreclosure: Everything You Need to Know

In the United States, millions of properties undergo foreclosure each year. With such a number, homeowners need to know everything about the process. At Detroit Cash For Homes, we helped several people in foreclosure to sell houses fast for cash in Clawson. Also, our experts have assisted many in preventing foreclosure. 

At Detroit Cash For Homes, we have more than 30 years of experience in buying properties. We hardly encounter any homeowners familiar with pre-foreclosure. If you are also one of them, you are on the right page. In this post, we will explain everything you need to know about pre-foreclosure. As a result, you can prevent losing your home. 

  • What is a pre-foreclosure?

Some situations arise in life, such as job loss, medical treatment, etc. when you may fall behind monthly mortgage payments. When missing 3-6 months of mortgage payments, your bank or lender will issue a warning for the same. It is to notify you about clearing the mortgage payments and save you from losing your home. It is known as pre-foreclosure. Usually, banks and lender institutions provide homeowners with a three-month period to make payments. However, it may vary depending on various factors. 

  • What happens if you fail to cover your mortgage payments within this time?

You must be wondering, what if I don’t make the payments during pre-foreclosure? In this case, your bank or money lending institution will put your home in foreclosure. Thus, you will lose ownership of your property and have to leave it. But having your property in the foreclosure process does not mean it is the end. 

By acting proactively, you can find several options to prevent yourself from losing ownership. If your property is in a situation like this, Detroit Cash For Homes can help. We buy houses in Clawson in any condition and have experience in dealing with properties in foreclosure. 

  • How can Detroit Cash For Homes help you in pre-foreclosure?

If your property is in the pre-foreclosure stage, we can help you in two ways, such as:

  • We can buy your house in Clawson – The first option is selling your home to Detroit Cash For Homes using a hassle-free process. After evaluating your property, we will make a fair all-cash offer within 24 hours. The best thing is you do not have to go through repairs and renovations, commissions, and closing costs. 
  • We can provide you with assistance – You can approach Detroit Cash For Homes and discuss your property with our team. Depending on the situation of your home and weighing all the available options, we can assist you. Thus, you can decide what to do next. We offer a no-obligation and no-pressure consultation, which means you can choose whomever you want to sell your home to. 

If your house is in the pre-foreclosure stage and you’re looking for a fix, sell your house fast for cash in Clawson, MI to Detroit Cash For Homes. We house a team of experts who are committed to delivering a fast and easy home sale.