A Unique Way to Prevent Foreclosure
July 23, 2020 Mark MacFarlane at OutFactors.com
A Unique Way to Prevent Foreclosure
Posted in Cash Buyers (for Homes), foreclosure, Home Selling

 

A Unique Way to Prevent Foreclosure

Foreclosure notice with house keysDuring these uncertain times, many people have lost their job, business, or have become ill for an extended period causing their families to struggle financially. While you are experiencing temporary financial hardship, the bills pile up, and you become behind on the mortgage payments. Even after you regain financial stability, recovering from the loss of income and paying the past due amounts can be an impossible task. You again have the income to pay the monthly mortgage but do not have the 5 monthly payments plus late fees and costs the bank is demanding to stop the foreclosure.

If this sounds familiar, using a sell and stay leaseback program to prevent foreclosure might be the answer you are looking for.

Many people have never heard of a sell and stay leaseback program, but the program can be an easy way to stop the foreclosure and allow the family to remain living in the home. In this article, we will review the sell and stay leaseback program so you can decide if the program is right for you.

What is a Sale with a Leaseback?

A sell and stay leaseback program can prevent foreclosure with a sale and leaseback agreement. To prevent the foreclosure, the homeowner signs a contract to sell the home to a home cash buyer who is in the business of buying and selling homes, like OutFactors. The buyer pays the lender what is past due and leases the home back to the seller.

What Companies Offer a Sale with Leaseback ?

A sell and stay leaseback program is a unique program that is only offered by a few companies, like OutFactors. This sale and leaseback program was created with the homeowner in mind and has a super simple application process with fast approvals. Best of all, when you deal with OutFactors, there are no income or credit checks.

How the Leaseback Works?

This unique program is a very effective way to stop the foreclosure and allows the family to remain living in the home. Here are the key features:

  • To prevent foreclosure, the bank is paid all of the outstanding mortgage payments, costs, and fees.
  • The buyer then pays the balance of the cash to the homeowner minus typical closing costs, payments to remove existing liens or taxes that are due.
  • Title of the home transfers to the home cash buyer, and simultaneously, the family signs a long-term leaseback to remain living in the home.
  • The family is granted the right to repurchase the home in the future (if permitted by state law).

As with the sale or lease of any home, there is a lot of paperwork that takes 7 to 10 days to complete. So if you want to stop the foreclosure, do not wait until the last moment to start the sell and stay process.

Is a Sale with a Leaseback the Right Solution?

For many families, this is a great program that stops foreclosure and allows the family to remain living in the home they love, but it is not for everyone. We recommend that families carefully review their options before deciding a sell and stay leaseback program is the right for you.

If you decide a sell and stay program is the solution you were looking for, we urge you to only work with experienced and knowledgeable companies that buy houses for cash, like OutFactors. Legitimate companies will put everything in writing.

Want More Information from OutFactors?

At some point in our lives, we all run into financial issues. With a sell and stay leaseback program, you get the time needed to overcome your financial challenges. We invite you to visit OutFactors.com for additional information, and if you are ready to get your Sell and Stay leaseback offer, click here. The people at OutFactors are super easy to talk to and will treat you with the utmost respect. Call OutFactors today to discuss your options. Offers are always fast and free.

Gold and red seal free No risk Cash Offer

OutFactors
539 West Commerce Street
Suite 1205
Dallas, Texas 75208
Contact@OutFactors.com
(800) 420-7030

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Unique Way Prevent Foreclosure | Home Cash Buyer | OutFactors — Dallas Fort Worth, Texas

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