In some cases, filing for bankruptcy or losing your home to foreclosure are the only methods you have to clear debt and start rebuilding your finances. However, these are last-ditch efforts that severely impact your life. You could lose your house and many other belongings in order to clear away debt. There are, however, a few tips that can help you avoid either of these legal proceedings.
First, you really need to have a clear picture of your finances. This means you need to write down all of your monthly expenses. This includes mortgage payment, utility bills, food expenditures and every item you spend money on every month. You also need a list of debts that you have, which not only includes car and house debts, but credit card companies and even money you owe to your friends or family. Compare these expenditures to your total income, and also make a complete list of your possessions and their approximate value.
Now that you have a true picture of what you owe and what you make, you can begin trimming the amount you owe. Get rid of all the extras, such as cable and movie streaming and eating out at restaurants. Consider selling some items to pay down your debt or to eliminate debt. For instance, maybe for awhile you can live with just one car or you can sell some of your jewelry or tools. Cell phone bills can be enormous, but you could switch to cheaper plans and eliminate having a Smartphone.
Often one of the reasons why people are in a difficult situation is because they have trouble making their mortgage payment and have missed several payments or paid their mortgage late. If you struggle each month to pay your mortgage, selling your home could be a way to deal with a huge amount of debt. Not only will you eliminate the mortgage payment, you might make enough from the sale to pay off other debts.
Putting your house on the market for a traditional sale, however, can take time and you might not be able to wait the weeks or months it takes to sell the home. In addition, the seller typically pays a substantial commission to the realtors upon the close of escrow, and this might not be something you can afford. So it probably would be best to contact a real estate investor or real estate investment firm. They buy Virginia Beach homes fast, often in less than 10 days time, so you will have cash in hand in just days rather than waiting for a home to sell.
For those who need to stop foreclosure in Virginia Beach, the team at VA Home Investments can help. In many cases, you'll have an offer for your home within 24 hours, and they can close the sale in as little as nine days. If you need to sell a home quickly in Virginia Beach, there are many advantages to going through a firm such as VA Home Investments. They charge no commissions or fees, and they will buy homes in any neighborhood, in any price range and in any condition. You won't even have to clean, repair and stage you home, they will take it as-is, which can be just the solution you need in a dire financial situation.
First, you really need to have a clear picture of your finances. This means you need to write down all of your monthly expenses. This includes mortgage payment, utility bills, food expenditures and every item you spend money on every month. You also need a list of debts that you have, which not only includes car and house debts, but credit card companies and even money you owe to your friends or family. Compare these expenditures to your total income, and also make a complete list of your possessions and their approximate value.
Now that you have a true picture of what you owe and what you make, you can begin trimming the amount you owe. Get rid of all the extras, such as cable and movie streaming and eating out at restaurants. Consider selling some items to pay down your debt or to eliminate debt. For instance, maybe for awhile you can live with just one car or you can sell some of your jewelry or tools. Cell phone bills can be enormous, but you could switch to cheaper plans and eliminate having a Smartphone.
Often one of the reasons why people are in a difficult situation is because they have trouble making their mortgage payment and have missed several payments or paid their mortgage late. If you struggle each month to pay your mortgage, selling your home could be a way to deal with a huge amount of debt. Not only will you eliminate the mortgage payment, you might make enough from the sale to pay off other debts.
Putting your house on the market for a traditional sale, however, can take time and you might not be able to wait the weeks or months it takes to sell the home. In addition, the seller typically pays a substantial commission to the realtors upon the close of escrow, and this might not be something you can afford. So it probably would be best to contact a real estate investor or real estate investment firm. They buy Virginia Beach homes fast, often in less than 10 days time, so you will have cash in hand in just days rather than waiting for a home to sell.
For those who need to stop foreclosure in Virginia Beach, the team at VA Home Investments can help. In many cases, you'll have an offer for your home within 24 hours, and they can close the sale in as little as nine days. If you need to sell a home quickly in Virginia Beach, there are many advantages to going through a firm such as VA Home Investments. They charge no commissions or fees, and they will buy homes in any neighborhood, in any price range and in any condition. You won't even have to clean, repair and stage you home, they will take it as-is, which can be just the solution you need in a dire financial situation.
About the Author:
Evella Clifford loves reading real estate blogs. If you are searching for real estate investor who can help in Virginia Beach sell house quickly, or to find methods on how to stop foreclosure Virginia Beach, please check out the VAHomeInvestments.com site today.
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