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.
Being in debt is highly stressful, but the first thing to do is simply sit down and make a comprehensive list of your assets and your debts. Assets include your home, your automobiles, furniture, electronic equipment, jewelry and just about everything that has value. Be sure to list what each item is worth realistically. In addition, write down the names of all the companies and people to whom you owe money, including bills such as cable and utilities, credit card companies, loan companies and friends and family. Take a look at your monthly income and compare how much you spend to how much you take in.
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.
Our mortgage payment is also a huge obstacle every month, and many people find themselves either unable to pay on time or have had to skip payments now and then. If your mortgage is simply more than you can afford, selling your home might be your best bet. It can eliminate a huge chunk of debt and sometimes you might even have a bit extra to help with moving expenses or paying down additional debt.
Of course, selling a home can take several months and you might not have time to wait for a traditional type of sale. In these situations, it might be wise to contact a real estate investment firm. This is a group of investors that buy homes quickly and then upgrade the home and resell it for a profit. Often, these investors can complete a home purchase in a matter of days, and if you are days from foreclosure or bankruptcy, this can be exactly the solution you need.
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.
Being in debt is highly stressful, but the first thing to do is simply sit down and make a comprehensive list of your assets and your debts. Assets include your home, your automobiles, furniture, electronic equipment, jewelry and just about everything that has value. Be sure to list what each item is worth realistically. In addition, write down the names of all the companies and people to whom you owe money, including bills such as cable and utilities, credit card companies, loan companies and friends and family. Take a look at your monthly income and compare how much you spend to how much you take in.
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.
Our mortgage payment is also a huge obstacle every month, and many people find themselves either unable to pay on time or have had to skip payments now and then. If your mortgage is simply more than you can afford, selling your home might be your best bet. It can eliminate a huge chunk of debt and sometimes you might even have a bit extra to help with moving expenses or paying down additional debt.
Of course, selling a home can take several months and you might not have time to wait for a traditional type of sale. In these situations, it might be wise to contact a real estate investment firm. This is a group of investors that buy homes quickly and then upgrade the home and resell it for a profit. Often, these investors can complete a home purchase in a matter of days, and if you are days from foreclosure or bankruptcy, this can be exactly the solution you need.
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 searching 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 go to the VA Home Investments website today.
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