Foreclosure is a nightmare to any family or person going through it irrespective of the reasons why they are about to lose their mobile home. Today we are going to look at the foreclosures effects in New Braunfels, Texas and what local mobile home sellers need to know. First we will look at the effects and the ways of easing them. Hopefully this information will give you a clear path forward to resolving your situation and either not lose your mobile, or be able to sell it before foreclosure hits.
Foreclosure Effects New Braunfels, Texas to Sellers
- Loss of your mobile home – Pretty self-explanatory here. The major end result of a foreclosure in Texas is of course the loss of the mobile home to the bank or lender.
- Decrease in Your Credit Rating – Your credit rating will be lowered by the foreclosure. How much? It depends on how high your current credit score is… but the higher your current credit score… the more your score will drop after a foreclosure. If you have a credit score of 680 or higher… you may see a drop of 100+ points. We all know great credit takes time and diligence to build. But don’t worry we have some solutions. It may not be exactly what you want, but it sure will beat the alternative. If you do end up with a forclosure or an eviction on your record it will be VERY difficult to find another place to live, unless you are paying all cash.
- Depression and Stress – Your mental health is at stake because of the high pressure situation. Going through a foreclosure is emotionally exhausting and frustrating to say the least. If foreclosure or eviction is imminent, give us call or submit your info on our website. We will reach out to directly to see if we can find a win-win solution to this for you.
- Mobile Home Values In Your Community – Another one of the big foreclosure effects in New Braunfels, Texas is that they tend to lower the overall value of the mobile or manufactured homes in your neighborhood or mobile home park… especially if there are multiple foreclosures in the immediate area. We are seeing an uptick in homes coming available due to foreclosure and eviction the last 2 months. Homes are also sitting on the market longer and selling for a lower price than even 6-9 months ago. We buy and sell 2-4 homes a month do we have direct up to date knowledge of the local market in central Texas.
How You Can Ease The Effects Of Foreclosure In New Braunfels
For the well being of you and your family, you need to mitigate the effects of foreclosure as much as you can. The process can be frustrating and time consuming, but there are people who can help you navigate your different options in the process.
First…
- Call your bank and work with them: Most banks and some mobile home mortgage lenders are very willing and ready to work with you… if you can show that with their help you can get back on track and save your mobile home . Or, if you just want out of the mobile home but you owe more on the mobile home than it’s worth… see if the bank has any programs to lower the mortgage burden so you can get out from underneath it without it going through an expensive foreclosure.
- Talk with a local real estate expert, like JourneyMobileHomes: We know the local New Braunfels real estate market well, especially in regards to mobile and manufactured homes. We are experienced in the foreclosure and eviction processes here in Texas. Give us a call at 210-504-8388 and we can guide you toward the resources that can possibly help you.
- Sell your mobile home: If you’d rather find a way to sell your mobile home and avoid the foreclosure all together, great! We buy local New Braunfels mobile homes for cash… and would love to look at your situation and make you a fair all-cash offer on your mobile home. Just call us at 210-504-8388 or shoot us your details through this website.
With the above knowledge on foreclosure and eviction effects in New Braunfels what sellers need to know, you can guard yourself by calling JourneyMobileHomes at 210-504-8388 and we shall assist you in the shortest time possible to sell your mobile home. However, to fast track the process, kindly fill out our website contact form to give us more information about you. We’d love to connect with you and help you find the best solution!