Stop Foreclosure in Virginia Beach Now -- How to Stop Foreclosure with a Pre-Foreclosure Company

July 5, 2010 - PRLog -- If you are in pre-foreclosure, that is, you have missed some payments to your bank and you may even have received some letters from them, you will want to find out what your options are so you can get some help to stop foreclosure in Virginia Beach. With many different companies out there, you will need to find one offering the services you are looking for. They don’t know you are in need, so you need to contact them.

To get the ball started on the reversal of the pre-foreclosure process, you will need to obtain professional services as soon as possible. There are companies out there willing to buy your home or sell it for you, so that you can avoid the foreclosure auction block. No matter which way you choose, we can give you a quick look at what the process will be like and what sort of information you will need to have available. Quick decisions about your house should not be made with only one phone call.

At your first contact with a pre-foreclosure company, they will want to know more about your situation. That is they will need to know how many payments have been missed on the property, whether or not the bank has sent a notice of default, the name of the bank or mortgage company, who is on the loan, and other simple information like your home address and contact information. With this information, the pre-foreclosure company should be able to provide you with some basic answers on how to stop foreclosure in Virginia Beach.  If they can’t, then you may need to find a different company.
The person talking with you will also need to know what type of loan you have -- whether it is an FHA loan, or a VA loan or one held by Freddie Mac or Fannie Mae or a more traditional loan.  If you are not sure, they are able to find out for you with your permission.  Once the pre-foreclosure company has all the necessary information, they can tell you which of the services they offer is right for you. One company doesn’t always have the perfect solution, but some will offer different services that can solve your situation.  However, no pre-foreclosure company can promise that their services will definitely help you save or sell your home.

Before the end of your initial phone call, you will want to schedule another appointment so that the pre-foreclosure company has time to research your property.  You will also likely need this time to collect some needed documentation.  The second meeting will cover the results of their research and they will tell you at that time if their services will be of help to you or not. You will need to bring tax information, statements from the bank and mortgage company and other important information regarding the property and your financial situation.

If you want to avoid foreclosure and minimize the damage to your credit score, then it is necessary to make that first phone call to the pre-foreclosure company immediately. Do not be afraid to speak frankly about your mortgage and financial problems as this company is there to stop foreclosure in Virginia Beach. Your first contact with the pre-foreclosure company will go smoothly if you follow these simple steps.

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