One scenario today is a great worry for every home owner; regardless of how healthy that home owner was, personally and financially, when buying their home. That worry is this: “Over the next thirty years, will I be able to keep my home if I become sick? What if I have an accident, or lose my job? What if my mortgage goes into arrears? Will my home be subject to repossession?”

Unfortunately, for too many people, that worry becomes a reality, and the end result is that a family loses a home they love. The good news is that there is an alternative, and it is an alternative which allows the family to stay put.

Circumstances like these can happen to anyone, and when a home has no income coming in, it’s easy to fall behind on mortgage. Once one falls behind in mortgage payments, it can become difficult or even impossible to catch up. At that point repossession is a strong possibility, and the home can be lost forever.

The first reaction of many people is to deny there’s any trouble. It’s very tempting to “bury one’s head in the sand.” The problem with this approach is that when one looks up, the problems of mortgage arrears not only haven’t gone away, they’ve gotten worse! At this point the next knock on the door could possibly be bailiffs with an eviction order.

While the homeowner’s options may be limited, there are options, and some of these options will allow the home owner to stay in the home, with a goal of getting ownership back. For example, there are specialist companies which can pay cash for the home, then rent the home back to the homeowner for a monthly payment which is less than the current mortgage.

The best aspect of the sell and buy back option is that when the homeowner’s situation improves, there is the opportunity to buy back the property. The price at which the home owner would be able to buy back the house is set at the time the home owner sells, and that price won’t change regardless as to what happens in the economy. The rent and buy back company will usually be able to offer a verbal quote on a purchase price for the house in as little as 24 hours. If the homeowner is interested at this point the next step would be a valuation of the home and the extension of a written quotation on the purchase price. The rent and buy back company will be able to give the homeowner directions on how to proceed with the sale, as well as how to stop any court proceedings that have already begun.

Mortgage arrears can be devastating, but they can be avoided. It costs nothing to apply for a sell and rent back program, and such a program can make the difference between staying in a home or being forced out, between continuing to work toward owning the home outright or being forced to start over.



Repossession

We all know it’s bad out there…With the severe credit crisis and the declining housing market, Fox, CNN, MSNBC, and even the President remind us of our struggles daily. Home foreclosures are at an all time high, even in my neighborhood in Austin Texas with many more foreclosures predicted to come. Housing resale values are at all time lows with no end in sight. Even the banks are going bankrupt as many Americans no longer qualify for credit.

Because of the recent credit crisis, many people don’t qualify for a new loan to buy a house right now, despite the incredibly low housing prices. Many home sellers can’t sell their unwanted houses because they owe more than their house is worth due to falling house prices. Many sellers can’t even rent their houses out for enough to cover their mortgage payments, taxes and insurance resulting in severe negative cash flow that bleeds then dry month after month. To make matters worse, many tenants end up trashing the house when they move out making it even more difficult and expensive to sell.

If they list their house with a real estate agent, their house will likely sit on the market for a long, long time waiting to sell since the buyers seem to have magically disappeared. Even if the house does finally sell one day at a greatly REDUCED price to get it sold, the owner has to pay a 6% real estate commission plus the majority of the closing costs. This often results in the seller writing a big, fat check at the closing table to finally get their house sold.

So what are my options to sell my house in Austin Texas fast in this depressed economy and housing market when many folks can’t get a loan? By trial and error, I discovered the following 3 alternatives to try to sell my Austin TX home quickly…

1. I tried to sell my house in Austin “For Sale by Owner” aka “FSBO”.

At first, selling my house by myself sounded easy enough, but it soon became my worst nightmare! What went wrong:

At first I didn’t know how to attract buyers that might be interested in purchasing a home in Buford Georgia…The For Sale By Owner sign in the yard wasn’t working. I ended up spending a fortune placing classifieds in the local paper which resulted in few potential buyers. Those that did respond wanted to see my house at all different hours of the day or night. I was afraid to say no in fear of losing a potential buyer. I would have to keep my house clean and all picked up, only to have them flake out and not show up! Other times I had some pretty scary people show up with their rowdy kids in tow, trampling through my home.



I never did find my ideal buyer. Even if I did, I had no idea how to get them qualified, how to handle all the purchase and sale paperwork or how to get the house closed. I said “There has to be a better way to sell my home!” and I was determined to find it.

2. I listed my house for sale with a local Austin real estate agent.

I called an agent from a local, seemingly reputable, real estate agency and made an appointment for her to come out and see the property. The agent sounded like she really knew what she was talking about and got me really excited about the prospect of selling my home quickly. She said she would list my house in the MLS, on dozens of real estate sites throughout Texas, advertise my house in the local paper and other print publications, do multiple open houses, put out signs, balloons, flyers in an information box and went on and on about how she could sell my home and still get top dollar. How could I refuse? I didn’t.

I listed my house and waited, and waited and waited. The agent put the house on the MLS, but the market was pretty tough and, despite her best efforts, six months later, I still didn’t have a buyer. Meanwhile, my house had not only decreased in value because it would not sell for the list price, which had been reduced repeatedly, but also because of all the other listed houses and foreclosures on the market in my area of Austin. At this point, I was all out of ideas and praying for a solution. About that time, someone at my church told me about RedBuysHouses.com.

3. I contacted a local, professional home buyer from Austin, Texas.

My friend from church told me that she had similar problems selling her Austin house, but that she had contacted a local professional home buyer who bought her house in under a week! What? Is this possible? Could I sell my Austin Texas house in 7 days or less, too? She said there are professional house buyers out there, also known as “real estate investors”, who buy and sell real estate for investment purposes. You’ve probably seen their “We Buy Houses” advertisements around town but never gave them much thought. These are people who buy houses professionally and are always actively looking for more houses to buy. She gave me their phone number and web address (Locally 512-945-6006, website: www.RedBuysHouses.com) and I contacted them ASAP. A local Austin home buyer from there called me and said that if my house qualified and if I was flexible on price or terms, that they may be able to buy my house in the next 7 days or less. She said depending on my situation that they may be able to pay all cash, pay some cash now and some cash later or take over my mortgage payments giving me immediate debt relief. At this point I was definitely flexible and had nothing to lose by scheduling an appointment for them to come see my home and possibly allow me to sell my Austin Texas house fast!

So I scheduled the appointment with the Austin home buyer and she came out and inspected my home. She said it was just what they were looking for and that she had several buyers looking for a similar home. I was ecstatic! She made me several offers to buy my house as promised. I chose the offer that best suited my needs and we scheduled a closing the following week with a local real estate closing attorney. It was that fast and that simple to finally sell my house in Austin! I still can’t get over it. After waiting two years trying to sell my house on my own and through a licensed agent, I was able to sell my house in less than 7 days to a local professional home buying company!

If you have an unwanted Austin Texas house you need to sell fast, call 512-945-6006 or visit www.RedBuysHouses.com and complete their online Seller Questionnaire for a FREE, no obligation consultation. You have nothing to lose by contacting them and everything to gain. I was able to sell my Austin home fast and you can too!



Sell House Quick

Whenever a relationship breaks down it is a shock, even when you have known for a while that its just not working out and the final decision to part is likely to stay with you for a long period of time. It can take months for it to really sink in and throughout this time it is common to fantasize about reconciliation, reunion and recriminations.

Understanding what went wrong is often the first step on the way to recovery and it’s easy to get stuck in questioning, how could they do that to me? What did I do wrong? Whose fault it is?  This is only natural.

However a more positive approach is to center on the relationship, as opposed to individual responsibility and I found the following questions beneficial: -

What were things like when we first met?

What was good about our relationship?

In what way have we changed?

Why were we attracted to each other?

Have any external factors influenced our relationships?

Just what is it that has prevented us from rising above our differences?

The answers to these questions may be upsetting but the more we understand, the easier it is to let go and then move on. This was a time that I felt many emotions, including sadness, anger, despair and confusion.  Additionally, there is a multitude of practical issues to take care of, such as, supporting your children, birthdays, childcare, informing the school, access arrangements and seeing the in-laws.

It is common after a relationship breakdown to find that you are having a battle with feelings of low self-confidence and self-esteem.  There are so many things to arrange it can be easy to neglect your own feelings. Don’t be too hard on yourself and accept and be thankful for any support your friends and family provide.

This is a tough time to be a parent but the children must know what is happening. Hiding the truth from them is not protecting them and may leave them confused and wondering whether they can trust you. Obviously how much you tell them will depend on how old they are.  Sharing your feeling will help them make sense of how they feel and allow your children to show their feelings as well.

My biggest worry was my concerns over money and property.  You know, managing the finances when you have to survive on a lower income and who gets what in your family home, the pet.  Will I have to sell? Where will we live?  This can really drag you down.  Luckily I found a solution to my problem, which saved me from any despair.

There are many house sale specialists who offer an alternative to that of an estate agent, so I decided to investigate this option. I found a website headlining “ Sell your home in as little as seven days” This I considered would go along way to solving a great number of my problems. I contacted An Instant Sale in Leicester on their free phone number and although I live nearly three hundred miles from their main office, a local representative visited me the very next day.

We agreed on a price and a date, and the cash from the equity in my property was transferred to my account, I was able to make the settlement with my partner and had some spare money to carry me through and I am not homeless.  Not only did they buy my home but they also arranged for me to rent back at the normal rent for our area.  If my circumstances improve, I have a pre-agreed price, to re purchase my home in the future.



Passive Income

Nowadays many people are constrained to take out a loan in order to buy a house. The high prices of houses force the majority of people, especially young people, to use credit cards or loans in order to have a home of their own. This is not necessarily a bad thing, but there are some strings attached to taking out a loan. Repossession is the biggest problem you can face when taking out a loan. However, there are ways through which you can avoid repossession and one of the most advantageous is to sell your real estate property to cash property buyers. 

A bank can offer me a considerable amount of money to buy the house of my dreams, but it can also take my home away if I am late with my monthly payments. When I take a loan to buy a house, the bank owns the house until the entire loan is paid. If I am late with my monthly payments to the bank or if I have some financial problems and I can not pay my liabilities when they have to be paid, the bank can repossess my house. Repossession is not automatic so the lender must inform me in advance about the amount I owe and about the ways of settlement. However, in most cases people can not give back the amount of money the bank is asking for so they face repossession. It is not enough to want to repay what you owe; you must also have the amount of money necessary to repay your debt.

If the bank informs me that I face repossession and I must repay what I owe, then there is no better way to keep my home than to sell my property to a quick sale agent. By doing so, I can still live in my home, I can repay the loan I made and, in time, I can buy the house back from the investors. This method is very common and very advantageous for people who have financial problems. A quick sale investor can buy my house for cash, which I can then use to repay my loan to the bank. Once I am sure I do not face repossession, I can become more organized, manage my money better and in time I can buy the house back from the investor. The biggest advantage I have when using such a method is that when I sell my property to a cash property buyer, I retain the right to rent my home and even buy it whenever I want.

Avoiding repossession requires a considerable amount of money that I may not have. Instead of taking out yet another loan to repay the preexisting one, I can use the help of an investor who can buy my house for cash. This way I can repay my loan, avoid eviction, pay a monthly rent that is lower than the other monthly payments I had to the bank and in time I can even buy back my house. Given these facts, selling my property is the best solution I have and the most advantageous one.



Real Estate Professionals

In the past the mortgage industry only focused on people who had money or were looking for a home to grow their families. The FHA and VA were the programs that were introduced to the public that would allow a person who wanted a home to purchase with little money down. These programs are totally different in the FHA is an insured mortgage which does not look at credit in the same way as a conventional mortgage. The VA is for veterans from the military and is a guaranteed loan back by the GI bill. Both of these programs help millions of people become home owners with little or no money down.

A new era is dawning in this country; with a new group of citizens that are in need of a program that will help them live life in a dignified fashion. This group is growing faster then any segment since the great war. This group is the Senior of the age of 62, with the senior group now making up more then 18% of the population the best is yet to come. Over the next 20 years the largest group of people will become over the age of 62 the group is the Baby Boomer.

With the rising age of the American citizen which will near 80 million people over the next 20 years they will make up 25% of the total population of this country. This is going to become a huge problem in the future and is already being felt today.

The growing problem is where will this group of hard working people who built this country live in the years when they were always told would be the Golden Years! In today’s financial crisis with more seniors loosing their ability to earn extra monies to supplement their incomes and many are also caught up in the mortgage industry crunch what will they do.

Since 1982 the Federal Government took action and came up with a multitude of solution to help the senior. The problem; as with most programs that involve financing there are the few that try exploit the program and make it their money machine these are the same crooks who caused the financial crisis  that we are in today.

Now the program of the Reverse Mortgage which is exclusively for the Senior over the age of 62 was not exception to the problem. Over the last few years the Reverse Mortgage industry has gone through it’s share of media attention and a select few of misfits trying to profit on the backs of out seniors. This is appalling to the true professional! The Government has realized this a put in place some of the most restrictive instruments to protect the senior, and God knows they need to be protected from the blood sucking vultures.

Now today the Reverse Mortgage is one of the safest programs on the market today, the media in many cases has taken another look and have given it a thumbs up. But there is much more work to do to get the word out and expel or the myths that have been associated with the program. The Reverse Mortgage of today is not even close to what it was just a few years ago. Today the guidelines are ever changing to keep up with the times and more protection is being added everyday. Seniors now have more options then ever before to provide themselves with monies to live a decent life that they worked so hard to achieve.

Today’s seniors have seen their live saving disappear because of the investment that were made in the retirement account that were risky and now they are paying the price as is everyone else. But the problem is more for the senior; simply because of time. Yes time is not on their side, they cannot go out into the market over the next 20 years and recover their losses and rebuild their nest eggs.

The one asset that they have that in most cases never even look at it has an investment is their home. But think about this is was and always be the biggest single investment that anyone can ever make in their lives. We are talking about the Home the roof over your head, the place that not only gave you dignity and warmth, but provided a foundation to which many great memories were born.

Over the years you made payments paying not only the principle, but interest in the hundreds of thousands of dollars. Not to mention the measly tax right offs for the interest and taxes that you received. Now that you are over the age of 62 and you are depended on Social Security, and maybe if you are one of the lucky ones a pension or savings that still exists you are faced with the biggest financial collapse of your lifetime. So what are you going to do to help replace the monies that you thought you would have to enjoy your retirement years, think my home can pay me back.

Yes with all of the changes that have taken place in the Reverse Mortgage industry it is emerging as a very viable solution to your problem, if you looked at it before or you just paid attention to the media you need to take another look.

The Reverse Mortgage is going to be the pension of the new century it is the only safe bet for the senior, simply because of it is the safest instrument available to the largest group in history. With a growing problem in this country of where will all the people go when they need care or housing there is not enough places for them. In a recent survey most seniors said they would prefer to stay in their homes until the end of time.

It is time for your Investment that you made in your Home to pay for your retirement years with the Safety and security that you had planned for over your working years. To find out more about how this secure program can save your life visit http://www.bestmortgageplans.com



Repossession