Hey, Berks County. Let’s talk about the eviction moratoriums from Covid and what is going on with pre foreclosure, and what the heck is pre foreclosure in Berks County? And how can you help yourself so you don’t have to deal with this really stressful situation. It’s been a while since we’ve seen a lot of foreclosures in Berks County, and I first want you to know if you’re going through the foreclosure or pre foreclosure process with your bank, you are not alone. There are a lot of other homeowners in the same boat. When Covid happened and they had the moratoriums, no landlords could file for eviction and mortgage companies could not file foreclosure on homeowners who were behind on their mortgage payments. What’s happening now is that moratorium has ended and the banks are getting caught up filing foreclosure on homeowners in Berks County. We’re starting to get a lot of calls from homeowners who said, I haven’t paid my mortgage in a year or two, but now my bank is starting the process and it’s moving rather quickly.
So what will happen is if you fall a few months behind, your bank will file pre foreclosure and send you notices in the mail asking that you get caught up, asking you to call them. Then the foreclosure proceedings will start, and this is when attorneys get involved and things can get very expensive very fast. We recently had a homeowner who was going through the foreclosure process. He was living in his house for a long time in Berks County. He had avoided the foreclosure process because of the moratoriums, and then what happened when the moratoriums ended, his bank started sending him letters that his mortgage was due.
He was very emotionally attached to the house. We see this a lot and completely understand. We are homeowners ourselves. You love your house and you don’t want to leave your house, but the burden and stress of the foreclosure was eating away at him. He kept getting letters from his banks and from the attorneys at his banks telling him what he owed, and it was always more and more and more and more every time by a lot. And that is because when you’re in pre foreclosure or foreclosure, your bank starts charging you fees. So not only do you owe your mortgage payment, you also owe late fees and attorney’s fees because the banks have attorneys that are working on your case.
Your bank does not want your house. Banks are not in the business of owning real estate. Trust me, they don’t want to go through the foreclosure process anymore than you do. If you would catch up on your mortgage if you’re able to, they would love that. Fortunately, companies like mine, Berks County House Buyers, have been helping homeowners in foreclosure and pre foreclosure for over 12 years in Berks County, we are used to dealing with banks and the foreclosure process. We can quickly assess where you’re at with your mortgage payments, your late payments, the attorney fees, everything that you owe. We can tell you how to find that out from your bank, exactly what you owe. If you were to pay off the house tomorrow, if you’re in foreclosure and say, what would I owe to catch up and to pay off the house? You can get these numbers from your bank. You don’t necessarily have to pay off the loan, they just want you to catch up.
So we can help guide you on how to get options from your bank if you’re going through the foreclosure process. Sometimes it’s easier to sell the home and rent for a while so you can get some money in your pocket. Depending on what you owe on your mortgage, this might be possible, it might not be possible, but we find that sometimes banks, depending on the bank, are willing to work with homeowners going for through foreclosure because they don’t want to take the house back. At Berks County House Buyers, we offer a quick, easy solution for homeowners in the foreclosure process. We can help guide you on how to contact your bank and get the answers to the questions that you’re looking for to see if you can catch up on your mortgage or what your payoff would be if you have to sell your home.
Two, we will give you options for selling. So we’ll tell you what we can purchase the home for cash. This is a quick solution when you’re going through foreclosure, and having a quick solution is key, because every day that you delay paying off the mortgage or catching up on payments, you have more attorney’s fees and more late fees. So while a lot of people want to stick their head in the sand, because it’s a very difficult situation to deal with, when you’re going through foreclosure, it’s not the time to stick your head in the sand. It’s actually a time where you have to be moving quickly. We have purchased homes from homeowners in Berks County going through the foreclosure process and have purchased the home and then let them live there for a short period of time afterwards to give them time to find somewhere else to live.
We’re very flexible and work with you. We want to make sure that we get everything paid off, which we do just like the regular sale of a home with a title company and with attorneys that we work with, so that you can move forward and have that stress of the pre foreclosure or foreclosure lifted off your shoulders. For a free, no obligation consultation about where you’re at with your home in the pre foreclosure or foreclosure process, give us a call, (610) 816-6205, or visit our website Berks610.com.