Sell your home with an option to buy it back!
Stay home as a renter with no rent increases!
Buyback your home for a set discounted price!
We have been in the real-estate industry for over 25 years. From new developments to managing properties, we have covered almost every niche. Today we specialize in restructuring homes in foreclosure, and we are proud to be the one of the very few companies in the U.S. that offer the Lease & Buyback product; a solution for many homeowners in financial hardships.
By selling your home to us, you will be able to save 70% – 90% of your investment in your home
When you choose us, you will be able to avoid foreclosure and protect your credit score
By renting your home from us, you can stay home for the next 10 years with no rent increases
By working with us, you will be able to buyback your home at a major set discounted price
PHOENIX LEASE & BUYBACK HOMES WANTS YOU TO FULLY UNDERSTAND THE LEASE & BUYBACK PRODUCT, HOW IT WORKS, ITS BENEFITS, AND HOW YOU CAN ACTUALLY START WORKING WITH US. SO WE’VE CREATED THIS LIST OF FREQUENTLY ASKED QUESTIONS ABOUT FORECLOSURE IN GENERAL, HOW TO AVOID IT, AND SPECIFICALLY ABOUT THE STEPS YOU COULD TAKE TO GET YOUR HOME BACK, AND HELP YOU GET THE ANSWERS TO YOUR QUESTIONS.
Pre-Foreclosure is the period when you fall behind on your mortgage payments, but before a foreclosure period officially starts. During this time, the lender most likely will charge you various fees (late charges, inspection fees, etc…). You should also expect a pre-foreclosure notice called a “breach letter” or “default”. If you are still not able to pay your mortgage payments, and have not reached an agreement with your lender, after 120 days of your first missed payment, the lender is able to files a lawsuit asking a court for an order allowing a foreclosure sale of your home. Once the lender files with the court asking for foreclosure sale, it can take several months until the judge will enter a judgment and order your home sold at auction. Once the lender receive this judgment against your home, the lender will publish a notice of the foreclosure sale on a publicly accessible website. The sale is an auction, which is open to the public, and usually will happen within 30 days after the judgment. The highest bidder will get the title to your home. After the sale, the lender will get paid first, and if the lender is not able to recover the full debt owed (loan amount, interest payments, default rates, late fees, legal fees, etc…), you will receive nothing, however, if the lender is able to recover the full debt owed, you will receive the balance left.
First thing you should do is contact your attorney (if you have one). If not, try to find an attorney. An attorney that works for you is the best person to give you an advice. Even though sometimes attorneys cannot save your home, at least they will let you know your options. This period is critical, since time is not on your side, and this situation will not resolve itself. You must move fast, decide fast and act fast. As we mentioned in the previous answer, the lender will charge you fees, so you want to try to keep these fees to a minimum by reaching a solution fast, and try to control the outcome by being proactive.
You do have some options, and your attorney will let you know what they are. here are some of them, you can pay your mortgage payments in full (plus fees), you can refinance your loan, you can reach an agreement with you lender, you can pay your loan in full, However, If you are in this situation already, most likely it will be very hard for you any of the options we mentioned. Your attorney might have few more options for you. But we feel that “Phoenix Lease & Buyback” is not only a great option, but your best option from all aspects. You can avoid foreclosure, you can save you credit score, you can stay in your home with no rent increases, and you can buy your home back at a major discount later on.
In general your lender will charge you late fees and default fees (in some cases they might be the same), your lender will also charge you legal fees, and some admin fees. However, it is important for you to read the your mortgage documents thoroughly in order to know exactly the fees your lender can charge. Your attorney will also be able to give you a much more accurate account of the fees your are responsible for. In most cases you need to pay all the fees, but you should consult with your attorney.
A foreclosure can take anywhere from 2 months to 24 months (and sometime even longer). It depends on many different factors, like the state you live in, and if you decide to challenge your lender in court, or declare bankruptcy, and so forth. Your attorney will be able to give you a much better estimate as to how long your home foreclosure might take.
You will be required to move out from your home (at this point it is no longer your home) by the order of the court, and the sheriff executes.
YES, it is the first thing you should do. Contact your attorney, and if you do not have one, you should try to find a good attorney that specializes in home foreclosures.
As mentioned in our previous answers, “Phoenix Lease & Buyback” is your best option. Most likely you are in this stressful situation due to external factors (Inflation, High interest rates, Etc…), and it might look like all options are bad, however, “Phoenix Lease & Buyback” is not a bad option, quite the opposite, it can be exactly what your life currently needs, a way to get back on your feet, and come out stronger… WITHOUT LOSING YOUR HOME. When you work with PHOENIX, you will save most of your investment in your home (if not all), you will avoid foreclosure, you will save you credit score, you will stay in your home under a lease with no rent increases, and you will buy your home back at a major discount later on. And while doing all of this, you will also have the ability to access most of your investment in your home to pay some of your debts and eliminate your stress.
