#1 Foreclosure Prevention Solution in South Africa

by Sep 22, 2021Real Estate Owners6 comments

Foreclosure Prevention firm in South Africa

Destructive Effects of Foreclosures in South Africa

When a mortgage is foreclosed on, not only will the homeowner face financial troubles but they can also expect to see some other serious problems that could have been avoided if repossessions hadn’t occurred. In addition to losing their homes and all equity that was tied up within them homeowners who are facing foreclosure may experience these destructive effects:

– loss of credit rating which makes future lending difficult or impossible

– inability to purchase another home because you’ll need good credit for this too

– eviction from your current property leading to homelessness

For many homeowners, the thought of losing their home is a scary reality. The economy has taken its toll on everyone and it’s easy to get behind on your mortgage payments. You may be feeling desperate about what you should do next in order to save your home. Stop repossession and keep your home by following these four steps!

Step One: Consult a Real Estate Solution Specialist.

The best way to save your home is by consulting a Real Estate Assist Solution Specialist, who can provide you with the time and resources necessary to find out what options are available for saving your property.

Step Two: Consider a Debt Review Alternative

Debt review is not the best option for those who need to keep their home, because it can lead to an adverse credit record. If you are looking for alternatives that will help reduce your debt and improve your credit score without jeopardizing your property, then Real Estate Assist has unique solutions just for you!

Step Three: Learn about Unique Solutions For Distressed Homeowners at Real Estate Assist

The most important thing when considering any solution is understanding how it affects other aspects of life in which there might be more hope. At REA we offer real estate assistance as well as financial advice so homeowners understand what steps to take.

Step Four: Stop Repossession

Repossessions are a scary reality for many homeowners. However, there is hope! The first step you should take to save your home is to stop the foreclosure by calling Real Estate Assist. They can help you with everything and will get the process started quickly.

Make sure to call them as soon as possible in order to start the process of saving your home with their assistance! Call now or visit them online at Real Estate Assist. Don’t let it get worse than just overdue payments-stop foreclosure before too much more damage occurs.

Repossession is a serious issue in South Africa. It has been estimated that there are over 100,000 foreclosures taking place every year and it’s a problem that will continue to grow unless something is done about it.

Distressed Property, foreclosure prevention
https://assistgroup.co.za/real-estate-owners/foreclosure-prevention-south-africa/

Why does Foreclosure happen?

Foreclosure happens when the mortgage company takes possession of your house because you have fallen behind on your payments or you have no equity left in the property after paying for all of your home expenses. In many cases, foreclosure can be prevented which allows homeowners to maintain their properties and avoid losing their hard-earned investment.

Foreclosure Long Term Effects

Foreclosures can have long-term consequences for homeowners, especially if they are not prepared. Foreclosure is the legal process by which a lender demands payment of a past due balance from an individual or business that has defaulted on their mortgage obligation. When this occurs, it results in the repossession and forced sale of that property to pay off debts owed.

Even after foreclosure proceedings end successfully with no home loss, there are still other effects that may be felt afterward as well as during foreclosure.

Some negative impacts include conflict between neighbors, eviction processes taking too long resulting in homelessness problems, or housing shortages at rental prices people cannot afford to earn huge profits for real estate investors while leaving ordinary South Africans struggling without homes or financial support.

There are also many effects that tend to affect women more directly. One of these is the relationship breakdowns that can occur when one person in a couple has lost their home through foreclosure, which means they no longer have an income and may become homeless. Another negative effect on women is job loss because it limits access to public transport for those who need or want to commute outside of walking distance from where they live.

Foreclosure Statistics

Having millions of foreclosures so far with increasing numbers each year does not bode well for South African citizens as long as there are no improvements being made by local government officials worldwide, but fortunately, Real Estate Assist provides Win-Win solutions for homeowners and property investors!

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Chantel
Chantel
2 years ago

We are facing foreclosure how can you assist please

Tana Lombard
Admin
Tana Lombard
2 years ago
Reply to  Chantel

You’ve come to the right place. Our team has sent you an email. Please let us know how we can help.

Ntonga
Ntonga
1 year ago
Reply to  Chantel

I’m currently facing a foreclosure of the property.

What is it that I need to do ?

Christof Lombard
Admin
Christof Lombard
1 year ago
Reply to  Ntonga

Thank you for reaching out! You can follow this link and fill in the form and pre-qualify Pre-qualify

Hameedah Abrahams
Hameedah Abrahams
1 year ago

We are facing foreclosure what do we need to do to stop it plz

Christof Lombard
Admin
Christof Lombard
11 months ago

Thank you for reaching out! You can follow this link and fill in the form and pre-qualify @ http://www.realestateassist.co.za/prequalify