Get Help Avoiding Foreclosure in Los Angeles, California

As the cost of living rises even more, the threat of foreclosure looms over Los Angeles homeowners. Financial challenges diminish one’s capacity to pay their mortgage, leaving lenders no choice but to start the foreclosure process and eventually repossess the house. This challenge is financially straining and can be emotionally stressful, too.

At John Medina Buys Houses, we want to share what you can do to avoid foreclosure, including selling the property for cash. Keep reading to learn more.

Avoid Foreclosure

In 2023, the foreclosure activity in California has risen by 41% compared to 2022. Many homeowners are experiencing the process because the moratoriums from the recent health crisis have been lifted.

Foreclosure is one of the worst things that could happen to a homeowner. Aside from the fact that you’re losing a home, you’ll also suffer a major blow to your credit score. It may take a long time to recover and regain lost points. Besides losing the property, you may still owe money if the sale of the foreclosed home doesn’t cover the remaining mortgage balance.

When you’re already facing foreclosure, it’s best to take a proactive step and avoid stress. Avoiding foreclosure helps you preserve your credit score and retain control of your living conditions.

Typical Problems Faced by People Going Through the Foreclosure Process

The foreclosure process in Los Angeles starts the day after you miss a mortgage payment. It will take around 90 days before your loan defaults and another 180 days before you receive a notice of trustee sale. The entire process usually lasts around 200 days, during which you might face problems like:

• Legal Issues: Foreclosure involves complex legal procedures that will require you to hire an attorney.
• Financial Strain: Aside from the legal fees, you will need to pay the missed payments and other associated costs.
• Limited Time: 200 days may not be enough for most homeowners to explore alternative financing options.
• Emotional Stress: Undergoing a foreclosure process leads to constant pressure. You’re trying to find ways to pay for the property while contemplating the possibility of losing your home.

Sell Your Property Fast for Cash

You can avoid the stress of foreclosure by selling the property for cash. With cash buyers like us, you can enjoy additional options that leave you with more time to prepare for the move. For example, you can rent the property for free within 30 days after closing. That way, you have a place to stay while searching for another property. You can also move immediately after the sale. You can leave whatever items you don’t want to take, and we will take care of it.

Skip the Traditional Real Estate Sale and Sell to a Cash Buyer Investor

When choosing your options for avoiding foreclosure, the traditional real estate sale may seem attractive at first. However, this process presents several disadvantages. First, the property can take up to 43 days or more in the market. Plus, you’ll have to work with a realtor who’ll take commissions. An investor like John Medina Buys Houses removes all this. You can sell the house in whatever condition and close the sale in as quick as seven days.

We Buy Houses as Is

We don’t just buy houses facing foreclosure. We purchase homes in any condition, such as the following.

• Abandoned: We buy abandoned properties no matter their current condition.
• Bad Rental Property Tenants: For landlords who no longer want to deal with unruly tenants, we can help.
• Code Violations: You won’t have to comply with code violations when you sell the property to us.
• Damaged Homes: Whether the home is damaged by fire or termite infestations, we will buy it.
• Death Estates: If you don’t want to deal with inherited property and its upkeep, you can sell it to us.
• Dirty or in Bad Shape: We buy homes that are in poor condition.
• Fixer-Uppers: You can still sell properties that need significant repairs or renovations to our team.
• Foundation Problems: Cracked or sinking foundations are no problem for us.
• Hoarder Homes: We will still buy properties filled with unwanted stuff.
• Repairs: Count on us to purchase properties that need major fixes.
• Rundown: You can let go of your rundown house and have us take care of it.
• Trash: We will purchase homes with trash issues so you can gain profit without having to handle the garbage disposal process.
• Vacant: Sell unoccupied houses to us so you can access the trapped equity.

Other Life Situations Where We Can Help

Cash buyers can help you no matter your current life circumstances.

• Divorce: We can help with property division during this emotional moment of your life.
• Upsizing/Downsizing: Whether you need more space or are retiring to a new location, we allow you to access your home’s equity.
• Medical Issues: Selling your property for cash can help provide funds for a medical procedure or treatment.
• Avoiding Bankruptcy: We can help you access resources to deal with financial loss.

Selling for Cash Pros and Cons

Working with a cash buyer has advantages and disadvantages. Consider these before you commit to selling your cash for property.

Pros

• You get a quick closing process.
• There’s no need for repairs, staging, or inspections.
• You get the entirety of the payment — no need to pay commission to real estate agents.

Cons

• The cash offer may be lower than your home’s value. However, there isn’t really much difference since you’re not paying commission and other fees associated with traditional real estate sales.

John Medina Buys Houses Offers the Most for Your Property

Avoid foreclosure by selling your California house to us. We’re one of the most trusted cash buyers in Los Angeles, with competitive cash offers that help you get the most out of your property. Contact us now and get your free cash offer to learn about your property’s value.