In some cases, filing for bankruptcy or losing your home to foreclosure are the only methods you have to clear debt and start rebuilding your finances. However, these are last-ditch efforts that severely impact your life. You could lose your house and many other belongings in order to clear away debt. There are, however, a few tips that can help you avoid either of these legal proceedings.
First, you really need to have a clear picture of your finances. This means you need to write down all of your monthly expenses. This includes mortgage payment, utility bills, food expenditures and every item you spend money on every month. You also need a list of debts that you have, which not only includes car and house debts, but credit card companies and even money you owe to your friends or family. Compare these expenditures to your total income, and also make a complete list of your possessions and their approximate value.
Now that you have a true picture of what you owe and what you make, you can begin trimming the amount you owe. Get rid of all the extras, such as cable and movie streaming and eating out at restaurants. Consider selling some items to pay down your debt or to eliminate debt. For instance, maybe for awhile you can live with just one car or you can sell some of your jewelry or tools. Cell phone bills can be enormous, but you could switch to cheaper plans and eliminate having a Smartphone.
Your monthly house payment is often the biggest expense you have each month, and of course, when you don't pay this bill or pay it late, the penalties are quite severe. You might consider selling your home and renting a home elsewhere to save money and also to relieve you from the responsibility of a mortgage for awhile. Once you sell the home, you might even have a bit of extra cash that you can use to pay off other bills.
The downside is that selling your house takes time if you use a realtor or if you decide to sell the home yourself. Realistically, if someone makes an offer the very first day your house goes on the market, it will be 30-40 days before your money comes in and rarely does a home sell that quickly. However, it can be sold very quickly if you go to a real estate investor. These are groups or individuals that buy homes for cash, close the deal quickly, fix up the property and resell for a small profit. They can help you avoid foreclosure and possible bankruptcy simply because they can deliver cash in days as opposed to weeks or months.
For those who need to stop foreclosure in Virginia Beach, the team at VA Home Investments can help. In many cases, you'll have an offer for your home within 24 hours, and they can close the sale in as little as nine days. If you need to sell a home quickly in Virginia Beach, there are many advantages to going through a firm such as VA Home Investments. They charge no commissions or fees, and they will buy homes in any neighborhood, in any price range and in any condition. You won't even have to clean, repair and stage you home, they will take it as-is, which can be just the solution you need in a dire financial situation.
First, you really need to have a clear picture of your finances. This means you need to write down all of your monthly expenses. This includes mortgage payment, utility bills, food expenditures and every item you spend money on every month. You also need a list of debts that you have, which not only includes car and house debts, but credit card companies and even money you owe to your friends or family. Compare these expenditures to your total income, and also make a complete list of your possessions and their approximate value.
Now that you have a true picture of what you owe and what you make, you can begin trimming the amount you owe. Get rid of all the extras, such as cable and movie streaming and eating out at restaurants. Consider selling some items to pay down your debt or to eliminate debt. For instance, maybe for awhile you can live with just one car or you can sell some of your jewelry or tools. Cell phone bills can be enormous, but you could switch to cheaper plans and eliminate having a Smartphone.
Your monthly house payment is often the biggest expense you have each month, and of course, when you don't pay this bill or pay it late, the penalties are quite severe. You might consider selling your home and renting a home elsewhere to save money and also to relieve you from the responsibility of a mortgage for awhile. Once you sell the home, you might even have a bit of extra cash that you can use to pay off other bills.
The downside is that selling your house takes time if you use a realtor or if you decide to sell the home yourself. Realistically, if someone makes an offer the very first day your house goes on the market, it will be 30-40 days before your money comes in and rarely does a home sell that quickly. However, it can be sold very quickly if you go to a real estate investor. These are groups or individuals that buy homes for cash, close the deal quickly, fix up the property and resell for a small profit. They can help you avoid foreclosure and possible bankruptcy simply because they can deliver cash in days as opposed to weeks or months.
For those who need to stop foreclosure in Virginia Beach, the team at VA Home Investments can help. In many cases, you'll have an offer for your home within 24 hours, and they can close the sale in as little as nine days. If you need to sell a home quickly in Virginia Beach, there are many advantages to going through a firm such as VA Home Investments. They charge no commissions or fees, and they will buy homes in any neighborhood, in any price range and in any condition. You won't even have to clean, repair and stage you home, they will take it as-is, which can be just the solution you need in a dire financial situation.
About the Author:
Evella Clifford loves reading real estate blogs. If you are looking for real estate investor who can assist in Virginia Beach sell house quickly, or to find methods on how to stop foreclosure Virginia Beach, please check out the VA Home Investments site now.