We Buy Houses Cash - St Lucie FL: You are falling behind in your mortgage payments. You know that there is a late fee you must pay on top of the mortgage payment when that occurs. It can start a big ball rolling as you don’t have enough to pay the basic amount, now you owe more. If the payments become just 2 behind, you could be notified by your lender that you will be placed in pre-foreclosure.

The letter will usually come in the mail by certified signature mail but depends on where you live and what the law requires in your state. Foreclosure law is basically the same everywhere across the country, but may have slightly different terms and processes that will depend on your lender, type of loan, and location.

When you are placed in pre-foreclosure, you are essentially being put on notice that the lender wants you to pay the back payments and catch up or they will be forced to begin foreclosure proceedings. Many homeowners in pre-foreclosure end up being foreclosed on because they can’t come up with the back payments as necessary.

This is somewhat of a catch-22 situation because in a practical way of thinking, if the borrower could have come up with just one payment when it was due, the situation wouldn’t have come up in the first place. Now the requirement for these financially strapped homeowners to come up not only just one payment, 2 or 3 plus late fees puts the whole scenario out of reach for them unless they have a friend or relative willing to step in and help them catch up.Short of that, there is nothing that a homeowner can do, right? Their credit will be ruined forever and they will be kicked out of the home they have grown to love.

Not so. This is not necessarily a hopeless situation. There are programs that help to modify loans so they are more manageable, quick sale options, and refinance options in some cases.In a modified loan the payments are reduced, making them more affordable month to month. Not many qualify for this program, but it might be worthwhile to check out this option. Another possibility if you don’t think you’ll qualify and need to get out quickly before foreclosure, talk to a real estate investor to find out what you can get in cash for your house. They can often buy your house for cash and be done with the sale in a week or less.

• Foreclosure Forces Fast Sale

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Sell your house for a fast and fair price! To see if your house would qualify for our fast home purchase program, please complete our confidential home seller questionnaire on our website at 411WeBuyHomes.com