Because the concept behind Benefacts Home Solutions is so different than all of the "Fast Cash for Your House" companies, new clients are often curious as to how we work. Below is a list of the most frequently asked questions (FAQs) we receive about the foreclosure process, options to avoid foreclosure, and Benefacts' services:
What happens if I cannot pay my mortgage?
Typically, your lender will send a handful of nasty letters that demand payment. They may also advise you to call them if you have any questions or concerns. However, many homeowners completely ignore these letters. This is the last thing you should do.
If you have already received these types of letters, you should call Benefacts immediately. If you do not find a solution soon, your lender may begin the judicial foreclosure proceedings.
What is foreclosure?
Foreclosure is the process in which a lender (bank, mortgage company, etc.) is legally allowed to claim a piece of property as a result of non-payment on a loan. This most commonly occurs when a homeowner is unable to pay his mortgage.
The state of Ohio has a judicial foreclosure process. This means that mortgage companies must file a lawsuit in order to redeem their collateral (your house). In the end, your home may be sold at a public auction to the highest bidder. If no one bids on the house, the bank will take possession. In either case, you will be evicted from your home and forced to live somewhere else.
How long do I have before I lose my house?
There are many different steps the lender must go through, and the entire foreclosure process may take up to seven (7) months. However, you will begin receiving legal notices from the courts as soon as three months after your last mortgage payment. DO NOT ignore these letters - contact Benefacts immediately to find out how you can save your home.
How many options are there to stop the foreclosure action against my house?
There are at least ten (10) different options you have to prevent the mortgage company from taking your house. Many investors try to deny this fact. Benefacts explains each of these options to our clients, helps them determine which alternatives best fit their particular situation, and works to make sure we reach a solution before the auction.
How can Benefacts help me?
Benefacts Home Solutions helps people like you evaluate ALL of the different options that are available, create a plan of action depending on your situation, and work out an acceptable resolution with your bank.
If a mutually acceptable agreement cannot be reached, Benefacts is often able to buy houses quickly to eliminate much of your debt and provide you with peace of mind immediately. No more creditors calling, no more threatening letters from the bank - just a step in the right direction for your financial future.
Do the services offered by Benefacts cost me money?
All of the information and consultations we provide are absolutely free – so do not be afraid to give us a call or write us an email with a question. We try to spend as much time as possible with our clients to ensure we are giving them accurate information and advice. However, due to the large number of homeowners facing foreclosure, we are only able to work with a limited number.
How soon can Benefacts help me?
We can help a majority of new clients immediately. Our trained solution specialists have successfully worked with homeowners in all stages of the foreclosure process. However, the sooner you call us, the better chances we have of preventing the bank from taking your home.
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