If you haven’t dealt with foreclosure before then you don’t know the nightmare that families go through when dealing with losing their home. Lets look at the foreclosure effects in Parkersburg WV and what local house sellers should know about how it affects the sale of their property.
Foreclosure Effects for Sellers in Parkersburg WV
- Losing your home – This is what most people think of when they hear the word foreclosure, it’s the final end result of a foreclosure in WV. After the allotted timeframe, the bank takes the home back and usually sells it at auction at the county courthouse.
- Kills your credit – Foreclosure never looks good on a credit report and it always decreases your score. By how much? This depends on your current score. The higher it is the more it will fall. Scores of 680 and up can see drops of 100 or more points. This can drastically affect your buying power when it comes to working with financial institutions.
- Depression, Stress, Anxiety – Dealing with a high-pressure situation like a foreclosure can be a major drain on your mental health and even has the potential to affect your work and home life.
- Values of Homes In Your Community – Another effect of foreclosures in Parkersburg WV is the value of the houses in your neighborhood will see a decrease… and if there are multiple foreclosures in the same location the effect will be much more drastic.
How to Ease The Effects Of Foreclosure In Parkersburg
You owe it to yourself and your family to mitigate the effects of foreclosure as much as you can. You do have options and there are people who can help you navigate this time-consuming and frustrating process.
Take the time to:
- Give your bank a call: Banks want to foreclose almost as much as you do…so not at all. The process is a lot of work for them too, so they would much rather get you back on track than foreclose on you. Maybe you’re in the position that you owe more than the house is worth (doubtful in this market, but not impossible!) In that case, check with the bank and see if they have a program that will lower the mortgage burden so you can walk away without them foreclosing.
- Talk local real estate professionals, like Appalachian Homes: We know the local Parkersburg real estate market well and are very experienced in the foreclosure process here in WV. Give us a call at (304) 679-7527 and let us guide you to resources that can help you.
- Sell your house: If you’d rather find a way to sell your house and avoid the foreclosure all together, great! We buy local Parkersburg houses for cash… and would love to look at your situation and make you a fair all-cash offer on your house. Just call us at (304) 679-7527 or shoot us your details through this website.
With the above knowledge on foreclosure effects in Parkersburg – what sellers need to know, you can guard yourself by calling Appalachian Homes at (304) 679-7527 and we will help you sell your house asap. However, to fast track the process, kindly fill out our website contact form to give us more information about you. We’d love to connect with you and help you find the best solution!
We really do want to help, there’s no reason why you should have to deal with this all on your own, give us a call and let us walk you through your options!