Don't Get Frustrated! Learn Your Alternatives to Foreclosures in Texas
Can I Just Let My House Go To Auction?
Many people come up to Shenoah Grove of Hippie Hollow Homes and say “I’m sick of dealing with this house’ or ‘I’m sick of dealing with the banks’ and ultimately ‘I’m just going to give this house back to the *$&#@! bank.’
Letting your house go to foreclosure without a fight is the absolutely worst decision that you can make, and this is why it is so important for you to work with real estate professionals that will provide you with alternatives to foreclosures in Texas.
Alternatives to Foreclosures in Texas | How the Auction Works
When an auction comes around, and in Texas, it comes around on the first Tuesday of every month; rain, snow, sleet, hurricane, tornado, holiday, whatever, they don’t care, they will auction off your house. What does this mean to you?
Shenoah Grove has witnessed people getting the knock on their door from an investor or the bank who purchased their house at auction and telling them that they are now the new owners of the house. It gets even worse when the Sherriff ultimately gets involved and evicts you, moving your possessions out on to the lawn in front of your friends and neighbors. You should take all precautions necessary to avoid this situation from happening to you; you do not want to go through this.
Alternatives to Foreclosures in Texas | The Consequences
After they own the house, then the bank can still come back at you and sue for your deficiencies, meaning that if your house was sold for $70,000 but you owed $120,000, the bank can sue you for the ($120,000-$70,000) $50,000 that is still owed on the loan!
Plus, the IRS looks at that $50,000 that you didn’t pay as income and taxes you accordingly.
Even though your situation looks bleak, burying your head in the sand and doing nothing is not an option. If you don’t know what to do, then talk to someone who does; someone who has experience in real estate and negotiating with banks.
Alternatives to Foreclosures in Texas | Use Hippie Hollow Homes
Hippie Hollow Homes is owned by Shenoah Grove, a Real Estate Broker who can perform traditional Realtor services, and her husband, Phill Grove, who is an nationally known real estate investor. Both have a passion for solving problems and assisting home owners with creative ways to sell their distressed houses. Phill Grove has created the Assignment of Mortgage Payments System, which thousands of real estate investors have purchased to learn how to buy and sell homes in this economy. Together, since 2004, Phill and Shenoah Grove have participated in over 1,200 real estate transactions; many of which involve negotiating with the banks. If you are behind on payments, have a house that needs repairs, need a quick sale, have no, little, or negative equity, etc… Hippie Hollow Homes has the experience to help you solve your problems.
Image: Nutdanai Apikhomboonwaroot / FreeDigitalPhotos.net
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