Stop Foreclosure by Selling Your House, And Buying Another?

Okay now some of you will remember I wrote about this at the beginning of the month in a post called I Can Sell My House & Buy A Nicer One For Less Money! – While In Foreclosure?   And many of you were quite intrigued by this strategy.  I know you’ve been wondering when are we going to get more details on how this plan works?

There was a single mother who was in foreclosure.  She felt stuck until she found out about this strategy.  So yes it is workable and anybody can do it.  Finally I’m going to break it down for you in just ten quick and easy steps.  Yes I’m going to tell you all the amazing secrets of how to buy a house in this market.  And I’m telling you for free.  Can you believe that?  Are you ready?

Ten Quick and Easy Steps

1. Loosen your grasp on your current house that is in foreclosure.
1. If you are in foreclosure or find yourself in a mortgage you cannot afford then it’s time to tell the truth
2. At one time the house you’re in may have been a good deal or it may have provided a solution
3. Now it is no longer a good deal and it no longer offers the same solution
4. Accept that you might have to let this house go but that’s okay because you can always buy another house
2. Arrange to put off your auction date if you are in foreclosure by negotiating with the bank or court
1. Write your bank a Letter of Hardship and seek to get some time to get caught up
2. Also request a debt work-out program be created on your behalf
3. But know for yourself that your real purpose in negotiating is to buy yourself time to get another house.
3. Determine in your mind that you are better off to sell and buy something else at a good price. 
1. Realize that all houses have dropped in value. 
2. You can buy a home that cost way less and you can have a mortgage that you can afford
3. If you know how to buy you can buy below market and you can get an even greater discount
4. Put the house for sale at a price that will let it sell in 45 to 60 days
4. Prepare to move by looking at different communities and neighborhoods you would like to live.
1. Get boxes and start packing, cleaning and making minor repairs on current house
2. Let your neighbors, friends and family know that you are moving.  
3. Hold garage sales and yard sales to get rid of any excess junk you do not wish to take with you. 
5. Go to the Real Estate Disposition Corporation’s web-site and do a search in your area for up coming auctions.
1. Search for other home auction companies if you don’t find what you’re looking for in the above site. 
2. Realize that these homes are already vacant.  In other words you are not profiting from someone else’s loss by buying these homes.  While this is a foreclosure auction it is being run by the banks.  Yes the same banks that are forcing you out of your own home will gladly sell you another home at the auction providing you know how to buy.
6. Print off all the houses in the auction list that you are interested in and start doing your homework!
1. Pre-select based on size, bedrooms area, style of house and amount of the “Previously Valued Price”
2. Now call a realtor and ask him/her to run some comparables for you. 
3. Discount the price the realtor gives you for each house by 30%
7. Identify the houses you can qualify for based on your credit and income.  Note that qualifying will be slightly easier since you will be buying a property with equity in it.  That’s almost like a cash deposit.
8. Look online to see the dates these properties are  available for viewing.
1. The viewing dates are usually held on a weekend.  So clear your schedule for Friday, Saturday, and Sunday.
9. Negotiate with a bank or lender to get pre-approved for a mortgage. 
1. Shop around to find a mortgage broker or lender who will understand your situation and work with you.  You help them earn their commission and they help you. 
10. Go to the auction and bid based on your pre-approved amount and the price you have pre-established you would bid on  the house. 
1. Do go over all the auction rules and become familiar with their policies ahead of time.
2. Do not bid based on emotions.  Bid strictly by the numbers. 
3. Do not panic if you lose a bid or come away without having successfully won.  There will be more tomorrow. 

I wish you well as you go forward and try these ten steps.  Please let me know how it works out for you.  I’m eager to hear your success stories.  I promise you by the end of the day if you work this plan it will work.  You will find yourself in a good home of your choosing.

The Foreclosure Doctor (Online)