Here at G.E.N.O. Estates Solutions we offer solutions to your property problems.
If you are facing foreclosure, tax lien auction sale or just plain ole need help figuring out your options as a homeowner when facing trouble, GENO Estates Solutions is HERE FOR YOU.
Wanting to sale or get an offer on a property you're in control of, we can assist you as well.
HELP IS HERE
Facing foreclosure
DO NOT WORRY
Property auction sale date approaching
DO NOT WORRY
Lost your property in a tax sale
DO NOT WORRY
No equity in your property but need to sale
DO NOT WORRY
Need options on what to do with your property
DO NOT WORRY
There is a lot going on in this massive real estate market, let us take the pressure off when trying to find your way through. We have information to share with you that others like to keep to themselves. Time is of the essence, let us share this information with you today.
Granting Equal Non-Hassling Opportunities
INFORMATION OWNERS NEED
REQUEST IMMEDIATE HELP
If you feel you are in trouble with your property, like about to be evicted, tax lien auction date approaching, late monthly payments and need a list of options, tired of paying two mortgage payments, or ready to earn money from your property? We can assist.
SELLERS
Looking to SALE? Want to connect with a local real estate agent? Need offers or market information? We can assist.
BUYERS
Interested in Lease to Own properties? Are you a cash buyer looking for a profitable investment?
We can assist.
Weigh ALL of Your Options
--Refinance--
Who to contact: Mortgage Lender
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Typical processing time: 30-45 days
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Quick “definition”: You will be approved for another loan that will be used to pay off your original property loan.
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Quick “to be aware of”: You must qualify. Your property will be your collateral for the loan. It may cost you money such as closing costs, along with origination fees, title insurance, and application fees.
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Quick “benefits”: You won’t have to leave the property. You get a lower interest rate or may have cash left over to spend.
--Personal Loan--
Who to contact: Family, Friends, Private Lender
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Typical processing time: 1-10 days
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Quick “definition”: You come into an agreement with a family member, friend, or a private lender to secure the funds needed.
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Quick “to be aware of”: Your family or friend may not keep it a secret that they loaned you the funds. Higher fees may apply to the loan with the private lender. Private lenders will have to hold title to the deed until the loan they issued you is paid off in full. Private lender can still foreclose if you don’t repay per the terms agreed.
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Quick “benefits”: The money is available almost immediately. Terms can be negotiated more in your favor. You won’t have to vacate the premises.
--Loan Modification--
Who to contact: Current Lender
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Typical processing time: 30-90 days
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Quick “definition”: Lender will modify your original loan, reduce interest rates, or extend the repayment terms.
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Quick “to be aware of”: You must be approved for the process and may be denied if your income isn’t sufficient, have high debt to income ratio, missing required documents or a delinquent credit history. It is structured in a way where it takes you the borrower longer to pay off the loan. The foreclosure process won’t stop while our in your negotiation phase.
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Quick “benefits”: It will take you out of a delinquent status. May reduce your monthly payment amount. You won’t have to vacate the property.
--Bankruptcy Ch.13--
Who to contact: Bankruptcy Lawyer
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Typical processing time: 4-6 months
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Quick “definition”: It allows you as a debtor to repay all or a large portion of your debts through an approved repayment plan over 3-5 years.
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Quick “to be aware of”: Stays on your credit for 7 years, slowing down any new approvals. You must have regular income that can sustain both your monthly household obligations and the repayment plan. Your proposal must be accepted by the courts.
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Quick “benefits”: The order “automatic stay” (goes into effect immediately after the petition is filed with the courts) will require creditors to stop trying to collect money from you and temporarily cease foreclosure activities. You can file up to hours before the scheduled auction sale.
--Subject To--
Who to contact: G.E.N.O. Estates
Typical processing time: 1-7 days
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Quick “definition”: Allowing the money to pay for the existing note to be provided. The properties title will change to the provider when allowed to do so.
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Quick “to be aware of”: The lenders “due on sale” clause could be put into effect (provider would pay what’s due).
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Quick “benefits”: Quick closings. You don’t have to qualify. The provider will now be responsible for the upkeep of the property. You can walk away from the hands-on responsibilities of the property and possibly with some cash. Your credit will be boosted instead of being hurt. The vacating process is handled by the both of you. If you have a 2nd lien on the property, the provider can include those funds as well.
--Rent the property out--
Who to contact: Locate a Tenant
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Typical processing time: 30-60 days
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Quick “definition”: You move out and allow a tenant to move in under certain terms and begin using their payments to pay your monthly property payment.
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Quick “to be aware of”: You become a landlord. You are still responsible for the maintenance, upkeep of the property and yearly or monthly fees due.
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Quick “benefits”: You possibly get the money needed upfront from the tenant moving in. You determine the rental amount which could leave you with a monthly positive cash flow. You avoid going into foreclosure. You continue to own the property.
--Loan Assumption--
Who to contact: Qualified Buyer the Current Lender
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Typical processing time: 45-90 days
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Quick “definition”: A qualified buyer applies with your lender to replace you on your current loan as the new borrower, leaving everything as is.
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Quick “to be aware of”: Your loan may not be assumable per your previous agreement with the lender. The new borrower must meet the lenders approval process with credit score, debt to income ratio, employment history, income, and possibly asset verification for a down payment.
Quick “benefits”: Interest rate may be lowered. It can be a family member who applies. Depending on your agreement, you could have it to where you don’t have to vacate the property.
--Short Sale--
Who to contact: Current Lender
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Typical processing time: 90 days
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Quick “definition”: Lender agrees that the sale of the house can be for an amount smaller than what you own them for it.
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Quick “to be aware of”: Process takes a few weeks to agree on acceptance, price and finalization. The buyer will be a third party and all proceeds from the sale go to the lender. You may be still liable for the difference of the final sale and what you originally owed the lender depending on their terms. You normally cannot do a short sale if you have equity or a negative strike on your credit score.
--Assignment Agreement--
Who to contact: G.E.N.O. Estates
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Typical time frame: 30 days or less
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Quick “definition”: Removing the weight of listing properties on the MLS and other marketplaces, you contract with someone to sale your property, usually for a number that’s smaller than the number given by the current market. They will purchase the property outright or assign the agreement to someone so they can make the purchase.
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Quick “to be aware of”: High chance you will have to vacate the property. You will receive on average around 65% of the properties market value.
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Quick “benefits”: Lots of offers will come in quickly. Property will be sold as-is. You don’t have to pay anything to sale. You will be released from the responsibilities of making monthly payments. You can walk away with cash.
--List for sale with Real Estate Agent--
Who to contact: Real Estate Agent
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Typical processing time: 65 days or more
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Quick “definition”: Contract with an agent for a specific time frame, allowing them to locate you a buyer and assist you with the sales process.
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Quick “to be aware of”: It is possible for buyers pre-approved loans to not be finalized right before closing. You will have to keep the house “show” ready. You will have to continue the utilities and keep your landscaping in order. The agent’s commissions fee may force you to have to overprice your listing or bring money to your closing.
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Quick “benefits”: You won’t have to market the property for sale. The agents will schedule your showings and go back and forth with your sale negotiations. Agents have a large network and connections to market your property.
--Deed in Lieu--
Who to contact: Mortgage Lender
Typical processing time: 30-45 days
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Quick “definition”: You voluntarily transfer your property deed over to your lender and they agree to forgive the rest of the loan amount owed to them.
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Quick “to be aware of”: You have to convince the lender to take back the deed to the property in exchange for releasing you from the loan. Mainly you have to prove that you cannot make the payments anymore. It will still show on your credit report as a foreclosure. You must leave the property. You have to do this before the foreclosure process has started. You may be responsible for the difference of the lender’s final sale price and what you originally owed.
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Quick “benefits”: You get about 30-60 days before you have to vacate. You will be released from the property. After 4 years you can apply for a conventional loan.
--Forced Foreclosure--
Who to contact: Current Lender
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Typical processing time: Eviction 3-30 days after foreclosure
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Quick “definition”: This is a legal process that when you don’t respond to the lender nor your delinquent payments after 120 days of being late, they legally take ownership, have you removed, and attempt to sale the property and recoup the money they originally loaned you.
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Quick “to be aware of”: The county sheriff will carry out the eviction and remove you and your things if you are still on the premises when they come to serve the final notice. If your property does not sale for an amount that covers what you owed you are still liable for the remaining balance.
Quick “benefits”: You will be released from the worries of having to come up with the behind payments for now. If your property sales at the foreclosure auction for more than what you owed you can file a claim to receive the money that was considered surplus funds.