How Can ForeclosureBusters Help With My Foreclosure?
Have a foreclosure question or a question about Foreclosure Buster’s? Well, so have many other homeowners we’ve helped. That’s why we put together this list of questions we get asked most often.
And, if there’s a question you don’t see here, or you need more information use our contact form at the bottom of the page to ask us your specific question.
Do You Buy Houses “As Is”?
Yes, of course! We buy houses “As Is” saving you the trouble of making any repairs. At Foreclosure Busters, we are here to complete the renovations for you. We are ready to help you avoid Foreclosure and complete all necessary renovations.
Am I Obligated To Sign Your Offer?
No! You are under no obligation to sign anything. At our initial consult, we will explain how our program works and answer any questions you may have, with no pressure to sign any paperwork. In fact, we don’t even bring documents with us on the first meeting! You are also able to contact us after the consult with any follow up questions you may have.
Is Foreclosure Busters A Real Estate Brokerage?
No, we are here to help home owners to understand, navigate and avoid Foreclosure.
Can You Help Me Stop Foreclosure?
We are Foreclosure experts and ready to take action even if you are facing Foreclosure (or bankruptcy). We have been helping people in Calgary avoid Foreclosure since 2006. We can help you stop your Foreclosure and help you get on with your life!
Does Foreclosure Busters Understand The Foreclosure Process?
Yes, having been through Foreclosure in the past (through no fault of our own, see: Our Story) and also having helped many home owners through Foreclosure, we understand the legal process and can help you navigate the turbulent legal waters.
For example we know that neither the lender nor the lawyer will tell you anything about the situation, unless you file a specific legal document which obligates them to tell you what is happening! This is confusing to us, since they are pursuing the home owner but won’t tell them anything! We also know that the legal fees are paid by the home owner, unfortunately. By keeping our process as efficient as possible, we are able to keep their legal billing as low as possible.
Will You Help Us In Court?
Yes, we help our clients in court at no cost to the home-owner!
Do You Charge For Court Appearances?
No! Some of our competitors do, but we do not! (Be sure to ask our competitors about their legal fees)
What Happens If I Don’t Do Anything?
Foreclosure leaves a very dirty mark on your credit report for up to 7 years (sometimes longer) this will impact your ability to borrow money for any reason the future. For example: a Car Loan, a Line of Credit, Bank Loan, etc. While you might not care about that now, once your situation changes in the future, it will matter, and it will cost you more as a result of higher interest rates for the borrower.
Also keep in mind, if the house sells in its current condition for less than what is owed on the mortgage, the bank will receive a “Deficiency Judgement” meaning they can pursue you for the difference. Selling a renovated home as opposed to a distressed house can prevent that.
What Is The Timeline For A Purchase?
With Foreclosure, time is always of the essence. The sooner we get started, the sooner we can solve the problem. If you’ve been to court, the judge has decided on a timeline already. If you have NOT been to court, we can help get as much time as needed to complete the process.
It is also possible that there has already been a court date, but because the legal form wasn’t filed at the courthouse, no one told you! How unfair is that???
How Much Can You Pay For My Home?
Our Real Estate Experts consider a variety of factors when determining an offer. We will evaluate the offer based on:
- The current condition of your home
- The cost and extent of renovations required
- The amount of time it will take to complete the renovations
- The potential “After Repaired Value” of your home
- The cost of maintaining the house during renovations, including insurance, taxes, loan payments, utilities, etc.
How Do I Know If The Offer Is Fair?
We will sit with you face to face, and determine between us, a fair offer for your home. We feel that the Foreclosure process is stacked against the home owner and we think it’s unfair. We do have to consider the costs of renovations and the holding costs though.
If I Receive A Higher Offer From Somebody Else – Can you Match or Beat it?
If the Offer is “too good to be true”, then it probably is. At Foreclosure Busters, we strive to create “win win” solutions for all parties involved. This means our offer is fair for both parties.
Some investors will make an offer that is higher than ours and they may take weeks or months trying to sell the house to someone else. If they fail to close on your house, it will be weeks, or even months of wasted time. Remember, Foreclosure is a race against the clock.
Also be sure to ask our competitors the same questions that you see here.
Will I Have To Pay Any Service Charges, Fees Or Real Estate Commissions?
No, there is no fee for our service. In fact, we will provide resources to help you get to your next residence.
Will I Have To Pay Any Closing Costs?
If you consult a lawyer concerning our offer (which you should), you will have to pay those legal fees. We feel it’s important to have your own independent legal advice, on any matter; if we pay your legal costs, it’s not independent.
How Long Does It Take To Complete The Deal?
Our program is based on your timeline, the sooner we get started, the sooner we can solve the problem; keep in mind, the Foreclosure clock continues to tick.