Frequently Asked Questions About HUD's Pre-foreclosure Sale Program

My lender has already started the foreclosure process and I don't have much time until the Foreclosure Sale Date. Is there still time?

Yes. It's up to your lender, but because of our proven track record in selling FHA Pre-foreclosures, most banks will enroll our clients into the program even after they have started the foreclosure process.

Do I have to move out of the home?

No. Nor will you be required to make any additional payments towards your delinquency. Most homeowners take advantage of the marketing time to shore up their finances and get back on their feet.

Will I have a foreclosure on my record?

Homeowners who sell their properties through this program will benefit by avoiding the effect of a foreclosure on their credit rating.

There are so many homes up for sale in my neighborhood. How can we possibly sell our home in 90 days?

Because our team of real estate professionals almost work exclusively with Sellers who have FHA loans being foreclosed upon, we have developed proven systems and marketing strategies. We sell approximately 90% of the homes we list.

My home is in terrible condition and I'm concerned it won't sell. Why bother?

You'd be surprised at the demand for "ugly homes". Investors, fix and flip teams, remodelers and sweat-equity owners have created a strong market for these properties.

Will I be responsible for any deficiency balance on my FHA Loan after I sell my home?

No. Homeowners who sell their home through this program are relieved of their mortgage obligation.

Once we receive an offer, how long until we have to move out of the home?

It depends on when the Buyer wants possession but typically 30 to 40 days.

What happens if I don't sell my home.

Good faith participants in the program are relieved of their mortgage obligation even if they do not sell their home. Their Lender may ask them to deed the property to them, called a "Deed In Lieu". If the homeowner declines the Deed In Lieu or if the lender determines that the homeowner does not qulify for the Deed In Lieu, the foreclosure preocess continues.

Call us for a free-consultation, (800) 639-6044

We have helped several homeowners just like yourself avoid the damaging effects of foreclosure. Every homeowners situation is different so please call us for a no obligation, free consultation at:

Act now. Delaying can't help. If you do nothing, you potentially could lose your home, your right to participate in this Program and your credit rating. If you have any questions, please call (800) 639-6044.