Foreclosures are Being Avoided

Amid the economic chaos caused by the COVID-19 pandemic, there are concerns that the real estate market will return to the record level of home foreclosures that we saw during the Recession in 2008. However, homeowners should feel confident that efforts are well underway to try to keep that from happening.

Unlike in 2008, banks now are reluctant to begin foreclosure proceedings for a variety of reasons. According to a long-time South Florida banking analyst, Ken Thomas, “Banks are going to be very careful about foreclosing on the loan, it’s the last thing they want. It ruins things for years.”

Banks are also more optimistic than in the past due to recent government announcements. The Federal Reserve has signaled that it will continue to keep liquidity pumping into US banks after announcing two weeks ago that it would buy nearly $700 billion in securities, which included $200 billion in Mortgage-Backed Securities. Other federal programs are also seeking to give landlords respite from their loans on the condition that they do not evict renters.  

One way to take advantage of the opportunities presented in this challenging time is to sell your home to Homeinc for cash. Even though banks are avoiding foreclosures, you may feel you’re at the point where you need to get the property off your hands and that’s where we can help. It’s faster and less expensive than working with a realtor because you sell and close faster, plus you keep more money from the sale.

At Homeinc, your call will be taken by an experienced acquisition manager who will speak to you about your property and conduct a free and quick property analysis of it. This includes valuing your home considering its age, repairs needed, ownership complications, and market position.

Within minutes, you will have a real cash offer for your home that you are under no obligation to take. And, assuming you accept the offer, we will get the contract to you and you will be well on your way to selling your home. Keep in mind that your property is purchased by Homeinc “as is” which means that we do all the repairs and handle any code violations or liens because we want to help ensure your closing is done in as few days as possible. Your cash will be wired directly into your bank account; there are no closing costs or commissions to pay and all closings are handled through a licensed title company and escrow agent.

Contact the professional home buyers at Homeinc today for your free property analysis. Call us at (888) 850-2636.