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What is a Foreclosure?
A Foreclosure is a legal action of taking possession of a mortgaged property when a borrower fails to keep up their mortgage obligations or payments.
A house foreclosure will damage your credit; therefore, if your bank or a lender is ready to foreclose on your property, CALL US RIGHT AWAY because we can assist. We can help to avoid foreclosure in Costa Rica.
Your house is likely the most valuable possession you will ever own. Why should you allow the banks or lenders to take your property when we have clients seeking properties in the Central Valley area eager to pay cash for your home RIGHT NOW?
A foreclosure occurs when a property owner cannot make their payments on the loan, typically leading to the property being seized and sold. The number of missed payments a bank or lender will allow before foreclosure will depend on several factors. Still, usually, they are legally entitled to start foreclosure proceedings after just one missed payment.
If you cannot make your monthly loan payment, your lender has the legal authority to foreclose on your house to reclaim the loan’s cost.
Foreclosure is a legal process in which no one ever truly wins. Both the homeowner and the lender are in a stressful and challenging situation.
Can a foreclosure influence its credit history?
Yes, a foreclosure is a bad mark on your credit history that will stay on your record for many years. It can also influence your future in terms of loan interest rates, job, and your ability to secure another mortgage for quite some time.
Most homeowners remain in denial about their finances, making the situation worse.
So don’t let a foreclosure ruin your name, credit, or dignity!
CONTACT US and get help NOW!