Prevent a Foreclosure in Arizona

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Prevent a Foreclosure in Arizona

Contact Hard Money Lenders Arizona Today

Get CASH From Your Home When Others Wont Approve A Loan: Stop Your Foreclosure and Stay In Your Home!

Financial distress can affect anyone, even if you have planned carefully for every possible scenario. You may lose your job, the economy may shift or you may face unexpected expenses that stretch your budget to its limits. Regardless of the cause, you need to find a way to fix your financial situation quickly, before it gets worse.

For most homeowners, the cost of the mortgage is the biggest monthly expense on the list. If you are struggling financially, this means your mortgage is also the most difficult expense to pay. If you cannot find a way to reduce this expense and/or improve your overall financial situation, you may feel like you have no choice but to sell your home and move, even if you want to stay. You may even be unable to sell your home and on the path to foreclosure. Fortunately, a loan from Hard Money Lenders Arizona can solve all of these problems. There is HOPE and Hard Money Lenders Arizona has quick solutions to help people stay in their homes/borrow money based on their equity when others won’t approve loans.

Traditional Options to Stop Foreclosure

Traditionally, you have several options that may allow you to stop foreclosure and/or improve your overall financial position enough to be able to afford your mortgage. These options include:

  • Refinancing

    If your home mortgage payment is your largest expense, refinancing for a longer term and a better interest rate can help you to lower your monthly payments. Alternatively, if you have a substantial amount of equity in your home, you may also be able to use a cash-out refinance to take advantage of some of this equity and pay your other debts. However, qualifying for a refinance loan is similar to qualifying for your initial mortgage. You will have to jump through a number of hoops, showing that you have good credit and reliable income. The process is lengthy, and your new mortgage will not be approved if you cannot meet every requirement.

  • Borrowing on a home equity line of credit

    If you have equity in your home, borrowing on a home equity line of credit is one of the best ways to get extra money, pay it back at a fair interest rate and improve your financial position. However, as with a refinance, qualifying for a home equity line of credit is not always easy. You will need to have a decent credit score, a good credit history and the ability to verify your income. If you cannot meet these requirements, it is unlikely that you will be able to qualify for a home equity line of credit.

  • Getting a personal loan

    Getting a personal loan is one option that allows you to take out some extra cash and pay it back over time. However, if your credit is poor and/or you can’t verify substantial income, qualifying for a personal loan may be difficult or even impossible. If you do qualify for a personal loan with poor credit, your interest rate will likely be high.

  • Using credit cards

    If you have good enough credit, you may qualify for credit cards that you can use to cover excess bills temporarily. However, credit cards come with extremely high interest rates, and it is all too easy to accumulate debt. Using credit cards may even worsen your financial situation in the long run and is rarely recommended to anyone experiencing serious financial problems.

  • Filing bankruptcy

    Filing bankruptcy can stop the foreclosure process, and your home may even be considered an exempt asset for the purposes of bankruptcy. However, you may still end up losing your home in the end if you cannot afford to bring your loan current and resume your payments when the bankruptcy ends.

How a Hard Money Loan Can Help

When none of the above solutions are appropriate, you may feel like you have no good options. You may think foreclosure is inevitable and that you should just let it happen. Alternatively, you may decide that your only choice is to put your home on the market and hope for the best. However, another option may be available.

A hard money loan can give you the cash you need to pay your excess bills without losing your home. This can stop foreclosure, allowing you to remain in the home you love. In addition, with the cash you need in-hand, you will be able to get rid of the financial burdens that are weighing you down so you can enjoy a better financial situation in the future.

A hard money loan can also be helpful in situations where your home is not in danger of foreclosure but you need cash for another reason. For example, if you need to have an expensive medical procedure but you cannot qualify for funding from another source, a hard money loan can get you the cash you need without forcing you to sell your home.

When Is a Hard Money Loan Appropriate?

A hard money loan may be an appropriate option if you are a homeowner struggling with a difficult financial situation that could be resolved with some extra cash. A hard money loan may also be a good option if you need some extra cash and you can’t qualify for a cash-out refinance or a home equity loan.

To qualify for a hard money loan, you must own your home. Renters cannot use this type of financing. In general, hard money loans are most appropriate for home owners who also have a significant amount of equity in their property, ideally at least 50 percent. Using the money from your hard money loan, you will be able to get your finances back in order quickly and move on with your life.

How Hard Money Loans Work

A hard money loan allows you to get the extra cash you need without resorting to the permanent sale of your home. If you choose to do a hard money loan instead, you will temporarily sell your home to the lender for a fair amount. The sale will include a detailed agreement with a specific timeline and payment schedule that will allow you to buy the home back at a predetermined price. During this time, you will be able to stay in your house even though you are not the legal owner. When you are struggling financially, this gives you the time and resources you need to recover without giving up your home.

At the end of the timeline, you will recover ownership of your home as long as you have met all payment requirements. However, if you are not able to pay off the loan and purchase your home back in the amount of time specified by your agreement, the lender will become the home’s legal owner.

Hard Money Loans with Hard Money Lenders Arizona

Choosing to take out a hard money loan from Hard Money Lenders Arizona is one of the easiest ways to get extra cash and rebuild your finances. When you work with our company, we will purchase your home for a fair price in “as is” condition. You will receive the funds within days of signing the agreement, allowing you to begin your financial recovery as quickly as possible. We have designed the process to be simple and painless so you can get nearly immediate financial relief with minimal effort.

Many homeowners who utilize our hard money loans have no trouble paying off the loan in time and recovering ownership of the home. However, if you are unable to repay the loan by the specified period of time, Hard Money Lenders Arizona may still be able to help you. Although we will become the legal owners of your property, we are often able to rent these properties back to the original owner so they can stay in the house they love.
Our process is straightforward and easy to understand. Unlike a traditional mortgage loan or refinance, we will not drag the process out for weeks or months, asking you to provide mountains of documents to support your ability to repay the loan. Instead, you can have the cash you need to begin rebuilding your finances quickly and with very little effort on your part.

Some of the specific benefits of a hard money loan from Hard Money lenders Arizona include:

• No stringent income verification – Hard Money Lenders Arizona will not require you to meet unreasonable income verification requirements. Even if you cannot document enough income to qualify for a traditional mortgage, you can still get a hard money loan.

• Poor credit is okay – Most lenders require you to meet minimum credit score guideline and explain any negative entries on your credit report. Hard Money Lenders Arizona will not subject you to this requirement. Even if you have a low credit score, you can still qualify for a hard money loan.

• A shorter process – When you need money to pay your bills and avoid foreclosure, the last thing you want to do is wait on a lender. We move quickly so you can get access to the funds you need fast.

Prevent a Foreclosure in Arizona: Contact Hard Money Lenders Arizona Today

Hard Money Lenders Arizona is proud to provide real estate loan solutions to both residents and investors throughout the state of Arizona. We are a top-rated Arizona lender with a reputation for providing outstanding customer service and innovative loan solutions. If you are struggling financially and you think a hard money loan would help, Hard Money Lenders Arizona would love to help you explore your options.
Please contact us today to learn more about our loan solutions or to begin the application process. 

Call Us At (480) 470-8594 or click below

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