How Rylo Homes’ Cash Homebuyers in Louisville, KY Can Help Homeowners at Risk of Foreclosure
Since 2021, there has been a steady increase in foreclosures throughout the United States. As of the fourth quarter of 2022, almost a million Americans are at risk of foreclosing before the year ends. This can lead to homeowners losing possession of their property and damaging their credit score, which can affect their financial stability.
Rylo Homes seeks to help homeowners at risk of foreclosure. The cash homebuyer in Louisville, KY directly buys homes from homeowners looking to sell their property fast without the costs and uncertain timeframe expected when selling on the real estate market.
In their effort to help homeowners, Rylo Homes provides three alternatives to help homeowners avoid the pitfalls of getting foreclosed.
Ways to Avoid Foreclosure
When a person forecloses on their property, it can have a number of consequences that can affect their financial stability. They may have a difficult time applying for a loan or credit card, being approved for low-interest deals, or even finding employment where credit scores are considered. Rylo Homes recommends alternatives like selling one’s home in Louisville, KY fast prior to receiving their notice of foreclosure to avoid getting foreclosed.
Other ways to avoid foreclosure include:
Declaring Bankruptcy
By declaring bankruptcy, homeowners can stop any foreclosure process regardless of timing. This can provide homeowners with more time to explore more solutions to help their financial situation. This includes:
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Seeking legal aid or counselling from a lawyer experienced in bankruptcy and foreclosure laws
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Submitting an application for relief
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Filing for a Chapter 13 bankruptcy to restructure their debts and make payments more manageable
Find Solutions from Local Government Offices
Homeowners that aren’t in pre-foreclosure or received notice of foreclosure yet may have time to find aid from local government offices. As soon as they miss their mortgage payment and are at risk of foreclosure, homeowners can find government programs and grants that can help with financial hardship.
One such government office is the federal government’s Housing and Urban Development department, which could provide aid for homeowners. This can depend on factors such as the homeowner’s remaining loans and how many mortgage payments homeowners have missed. The HUD also offers counseling services to assist homeowners on their next best step.
Sell Their Property to a Professional Home Buyer
If a homeowner has yet to receive their notice of foreclosure, they’re allowed to sell their property. However, selling on the real estate market is not a feasible solution to avoid foreclosure given the costs and average time it takes to sell a home on the market. For homeowners in the area, Rylo Homes recommends selling directly to their cash homebuyers in Louisville, KY.
This option gives homeowners the ability to sell their Louisville, KY homes fast without the costs and unknown factors that can cause delays or prevent them from selling their house on time to avoid foreclosure. From this sale, homeowners can then pay off their debt and start over.
Rylo Homes Buys Homes Fast in Louisville, KY
Rylo Homes buys houses directly from homeowners who want to avoid the realtors, hidden fees, and repairs necessary to sell on the market. This cash homebuyer in Louisville, KY provides fair cash offers on properties in Kentucky, regardless of condition, titles, or any other issues on the home.
To learn more about their home buying process, get in touch with Rylo Homes at (502) 317-8553.
Media Contact
Company Name: Rylo Homes
Contact Person: Jon M.
Email: Send Email
Phone: (502) 317-8553
Address:18 Village Plaza Suite 154
City: Shelbyville
State: Kentucky 40065
Country: United States
Website: rylohomes.com