Stop Foreclosure

Negative Effects of Foreclosure

There are many negative effects of foreclosure. The one that most people are aware of is your credit. However, that is not all that can be impacted. Click below to find out more.

Negative Effects of Foreclosure

There are many negative effects of foreclosure. The one that most people are aware of is your credit. However, that is not all that can be impacted. Click below to find out more.

Losing Your Belongings

You have worked hard to make your house a home, from paint and decorations, to remodeling and landscaping. You have put time and money into making it yours; not to mention all the memories you have with your belongings. If your house goes into foreclosure, you must move out by a given date. Once that happens, many people don't have the time or resources to pack and move everything. Often times, belongings are left behind in the rush. Click HERE to find out your auction date and determine how much time you have.

Losing Your Equity

Damaged Credit Score

The most obvious negative effect of foreclosure is damaged credit. While it is possible to rebuild your credit, it will take time and effort to do so. In the meantime, having a foreclosure on your record will drop your credit score up to 160 points. Plus, it stays on your credit report for 7 years. Having your credit score drop that much for that long will affect future attempts at getting credit cards and auto loans. You may have higher interest rates and lower limits. It can also affect your insurance rates, finding another place to live, and even getting a job.

Future Housing

Even if this is just a temporary rough patch, losing your home to foreclosure will make it difficult to get another mortgage in the future. There is a 3-7 year waiting period, depending on loan type, to be able to qualify for another mortgage. Not looking to buy another home? Landlords often do credit checks for apartments or rental homes as well. That could impact where you can rent, any down payments or deposits required, as well as your payment amount.

Getting A Job

These days, many jobs require a credit check. According to the Society of Human Resource Management, nearly half of employers conduct a credit check for at least some of their positions. If you are applying for a position in the financial, insurance, security, military, or law enforcement fields, the damaging impact of a foreclosure could cost you the job. There are 10 states, including Colorado, that limit the use of a credit report for employment purposes. There is also pending legislation that could change it for all states. Until that passes though, this could still be an issue for anyone in Arizona and Texas, as well as the other states.

Tax Implications

Additional Fees

When a home goes into foreclosure, the lender incurs expenses during the process. These can include attorney's fees, paperwork processing and filing, property preservation and maintenance, appraisals and inspections, taxes and insurance, title searches, and more. They can also charge late fees on each missed payment until the house is sold at auction. Most of the time, the lender requires the borrower to pay these fees and expenses. Stopping the foreclosure process as soon as possible will reduce and eliminate many of these costs for you.

We can help

The dedicated team at Auction Stoppers can negotiate with your lender to get you more time. We can not only help to stop the foreclosure and auction, we can also make you a no obligation offer to buy your home. Depending on your situation, we may even be able to give you a cash equity payout.* That means you are not losing everything, but rather have cash in hand to start over.

If we buy your home, we can work with you for a flexible move out time frame. We can also recommend a private money lender in our network who may be able to help you stay in your home. There are no fees for our services, and no closing costs. Let Auction Stoppers help you stop the auction and avoid foreclosure. Contact us today to see how we can assist you.

*Every circumstance is different and there is no guarantee of a cash payout.

Help get you more time.
Find the best option for you.
Make a CASH offer.
Give you a CASH equity payout.*
Flexible move out time frame.
No fees or closing costs.
You owe Auction Stoppers nothing.

How to Stop the Auction

1 Time is of the essence with the auction date looming. We understand that and will assist you every step of the way. We will ensure that you get in touch with the person in charge of your account with your lender. That way, you're not wasting time going around in circles.

2Auction Stoppers will help you request a payoff statement which includes any arrears, or past due amounts, and fees accumulated up to that point. We'll also make sure your lender knows you are working on a solution; they may grant you an extension of the auction date.

3 Once we know the total amount due, and how much time we have, we can better assess the situation. We will look at the estimated market value and current condition of your home to determine the accumulated equity. Then, we will sit down with you to go over your options and find the best solution for you.

Options We Offer

Buy your home and work out a mutually agreed upon move out date. We may be able to offer you a cash payout as well.*
Buy your home with a lease back option so you can stay in your home.
Recommend a private money lender in our network who may be able to help you keep your home.

There are no fees, no closing costs, and you will owe nothing to Auction Stoppers. However, the longer you wait, the more expenses and fees you will owe your lender. Contact Action Stoppers today so we can help you stop the auction and reduce the amount owed!

Have a Question?

We have answers. Contact us today!

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Additional Assistance to Help You Move

Moving out of your home is stressful, especially if you don't have the resources to do so. There is good news though. When Auction Stoppers helps you stop the auction and buys your home, we can also provide additional assistance to help you move. Since you don't have a foreclosure on your credit report, finding a new home will be much easier. You may even be able to qualify for a new mortgage for a smaller, more affordable home with better loan terms. Depending on your situation, Auction Stoppers may be able to provide or assist with the following:

Cash to help with moving expenses
Renting an affordable new place to live (up to 6 months)
Helping to establish and connect utilities (gas, electric, and water)
Coordinating the move to your new home
Connecting you with a realtor and lender in our network to see if you qualify for a new mortgage

There is no out of pocket cost for this additional assistance to help you move; Auction Stoppers wants to help you start a new chapter in your life. Contact us today for your fresh start!

We can you.

Trustee Sale Lookup

When your lender starts the foreclosure process and sets the Trustee Sale date, your home will end up in an auction database. There are several auction houses including Auction.com, Hubzu.com, and bank and county courthouse auctions in which anyone can perform a Trustee Sale lookup. This is public information about your home that potential buyers and investors can see. Auction Stoppers can help you stop the auction so your home is not on these sites.

Need more info about your auction? Want to know what everyone else can see? Click on your county below and then enter your address in the search bar to find your home. Once you're ready to stop the auction, time is of the essence. You don't owe Auction Stoppers anything so there's nothing to lose.

Arizona

Pima County
Cochise County
Pinal County
All Other Counties

Ready to find out more?
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