BRIDGE FINANCING
FINANCING TO PREVENT FORECLOSURE AND ALLOW YOU TIME TO SELL
When borrowers have equity in their homes, foreclosure is an even bigger loss because they stand to lose the profit they have earned. In theory, a foreclosure sale is supposed to be a public sale conducted by an impartial trustee to the highest bidder with the difference between the sale price and the debt, the surplus, going to the borrower. However, the system is corrupt and the borrower is often cheated.
Investigate your foreclosure trustee’s website and you will see that they are not objective third parties but are actually more like investor clubs taking advantage of loopholes in the law to operate as feeders to their investor members. By statute a foreclosure trustee can postpone a foreclosure sale multiple times without notice to the borrower and many trustees use this loophole to postpone over and over thereby thwarting the pool of regular investors that might bid up the property creating a nice surplus for the homeowner. Then, when the actual sale occurs, a lucky investor with inside information as to the date and time of the sale gets a bargain. The result is that the sale price is nothing close to the fair market value of the property and the surplus that the borrower receives is often very little or nothing.
In cases like these, Advocate Legal can provide you with access to an investment group of ethical investors that provide short-term loans to allow borrowers to sell in the regular market. This private arrangement between you and an investor allows the investor to make a quick reasonable profit and allows you the time to sell via a regular real estate listing and get the best price for your home. If a borrower can avoid having their home go to a secret foreclosure sale, the difference can sometimes mean hundreds of thousands of dollars in your pocket.
Contact Advocate Legal for Financing Help Today
With over a decade of litigation experience that includes foreclosure, mortgage fraud and title issues, our lawyers at Advocate Legal have the knowledge and skill to help you secure financing to avoid a foreclosure sale.