If you can't keep up on your mortgage payments, one option is to reorganize your finances to make your debt payments reasonable. Herrick and Herrick partners with creative financing professionals who can assist you in reorganizing your finances and developing realistic payment schedules. If there's a solution, they will help you find it. Even if you don't use our finance experts or decide that reorganizing your finances isn't the solution, we can help you find other options.
If reorganizing your debts isn't the solution and you have to sell your home, don't let the bank auction your house. A foreclosure can significantly damage your credit rating for up to a decade and a county auction will almost never obtain market price for your house. Let our experienced real estate agents handle the sale and help you pay off your debts. Our real estate agents are established professionals with a history of successfully moving properties.
Sometimes the combined debts on a home are greater than the actual value of the property. You can't sell the house because more money is owed on the house than the house is worth, which means that you can't get a price that will cover your debt (without covering the debt, the liens on the house stay in force, preventing any sale). In this "upside down" scenario you will almost certainly undergo foreclosure. However, with the help of our seasoned banking professionals, you can avoid this disaster. Due to our experience and reputation in the industry, banks will negotiate with us, reducing the debt burden on distressed properties so that our investors can purchase the house. What do you get in return? You walk away, debt-free and with no foreclosure on your record, so that when you're back on your financial feet, you can purchase a new home and make a new start.