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Updated by WIT Capital Group on May 27, 2020
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National All Cash Home Buyers

We Buy Houses Anywhere In Valley Stream And Other Parts of NY, And At Any Price. Check Out How Our Process Works. We’re Ready To Give You A Fair Offer For Your House.

8

How to Stay in My Home After Foreclosure in Valley Stream

A recent study estimates that 47% of foreclosed properties are still occupied.

When you first see that stat you may be surprised… but we’re not.

What most people don’t realize is that banks aren’t in the business to own homes.

They are in the business to loan people money. But when they have to foreclose on a house… the bank is forced to own the home until they’re able to sell it to get all or most of their money back.

But, what they had found is that when a Valley Stream foreclosed house goes vacant… there is a much greater chance that the house will fall into disrepair. Often times the bank would rather have you in the property even after you stop paying your payments and the foreclosure is started because it wards of vandals and keeps the house in good working order.

There’s been a lot of talk in the media about people living for free after foreclosure – and even many stories about banks “abandoning” properties.

In those stories, people are avoiding house payments for months, even years.

Man, that sounds great! Let’s all live for free. (wink)

Wait… it can’t be that simple, right?
Right.

No bank would purposely neglect to collect payments. The only way that you get to live without making any payments is when some major mistakes were made.

But you might get lucky! It’s possible, and it’s happened before. However, it’s not exactly legal to avoid payments that you owe, and it can get you in serious trouble.

So why are so many foreclosed homes occupied? It’s important to remember that no one wants the house to be vacant. Vacant homes are targets for vandalism and crime.

Staying in the property can help the bank maintain the value of their investment, so it’s actually in their best interests to keep it occupied. Partly because of the ways that the foreclosure laws are structured in NY, banks may ask you to leave while wanting you to stay.

There are a few perfectly legal ways to remain in your home, even after foreclosure.
How To Stay In My Home After Foreclosure In Valley Stream

Not all these options are available (depending on your situation and your lenders), and you’ll need some expert advice along the way to help you get through.

1) Wait it out. Honestly, this is a pretty bad option, but it seems to be increasingly common. You definitely shouldn’t run away and abandon your house when the first notice of default shows up. Remember that the proceedings and the process takes months and sometimes years. It’s not over until it’s over, so don’t give up too early. On the other hand, don’t wait until the sheriff shows up to evict you to start packing up your stuff.

2) Go to court. In very rare cases, judges are granting stays and delaying evictions. This is really only a valid option if you (and your attorneys) can prove that the bank has neglected a legal requirement during the foreclosure process. During the past few years, a lot of fraudulent behavior at banks has been uncovered – so we may see an increasing trend of using the courts to stop foreclosure. Fighting banks with lawyers is very difficult, expensive and time-consuming, even if you’ve got a perfect case (most people don’t stand a chance).

3) Propose a move-out bonus. Often buyers of occupied foreclosure properties spend thousands of dollars on lawyers and other costs of eviction, so why not save everyone the time and expense by taking some of that money yourself? It’s known as “cash for keys”. It sounds a little greedy, but greasing the wheels does help everything to run smooth. Plus, you can help out the bank and the buyers by not abandoning the house to squatters before they’re ready to take possession.

4) Rent it back. It may sound crazy, but some banks are willing to take on previous homeowners as tenants in their property. That’s only a short-term fix, as they’ll want your agreement to vacate the premises as soon as they find someone to purchase the property. In some cases, we can even purchase the property and rent it back to you.

It’s really good that you’re reading this page and exploring your options. We help homeowners like you to find creative solutions.

We can’t help everyone, but we might be able to help you.

We buy local Valley Stream NY houses like yours from people who need to sell fast.s
Give us a call anytime at 516-699-8704 or
fill out the form on this website today! >>

Sell My House Fast Valley Stream NY – We Buy Houses Fast Cash

Sell My House Fast Valley Stream NY! We Buy Houses In Valley Stream, NY And Surrounding Areas In As Little As 7 Days. No Fees. No Commissions. Put More Cash In Your Pocket.

Contact Us | WIT Capital Group, LLC

Have some questions you want to ask us? Excellent! We love talking with people to see how we can help you reach your goals. If you have questions about…

How It Works | WIT Capital Group, LLC

Tell us about your property – Quick, Easy & Free!If it meets our buying criteria, we’ll contact you to set up a quick appointment.

About WIT Capital Group, LLC Valley Stream – 516-699-8704

WIT Capital Group, LLC is based in Valley Stream and focuses on helping home owners who need to sell their house fast, do so quickly, for a fair price, without the hassles of traditional selling…

5

How To Avoid Running Into Mortgage Paying Trouble for Valley Stream Homeowners

You may think it’s only the tenant who has a hard time paying the mortgage, but as a real estate investor or landlord, there may be times when it’s hard to pay the mortgage on your end as well. Here are some things you can do to avoid facing difficulty in paying your mortgage each month.

Keep your properties full. While it may sound overly simplified, this is the most obvious method for ensuring you’ve got rent money coming in each month to cover your property mortgage payments. Don’t allow yourself to get slack on advertising for new tenants. And don’t put off screening applicants or filling your properties because you get busy or overworked. Recognize filling your vacancies as a major aspect of your REI business success and deal with it quickly and efficiently every time.

Do your best to find quality tenants. While you want to keep your properties full, finding good quality tenants is key. By “good” it means they pay their rent on time, keep the property maintained and don’t abuse the lease. By using background and credit checks, you can find the best tenants available and thereby do what’s possible to keep your rental fees coming in regularly, which will help you pay the mortgage when it comes due.

Look for longterm tenants. Don’t assume that quality tenants will necessarily be longterm ones. Some good renters may know they can’t stay over a few months at most. They may be students or working a temporary job. They may just be living in an area waiting to move or retire somewhere else. Whatever the situation, opt for longterm renters when the choice is available. Doing so will make filling a vacancy at least a more infrequent possibility.

Keep the property well maintained. If you want good tenants, longterm tenants and tenants who pay their rent on time, do your part to keep them. Deal with maintenance issues quickly. Make repairs as necessary. Upgrade appliances or at least ensure the ones you provide are in good working order. Respond to your tenants’ calls quickly, or if you can’t be sure they know you’ll be unavailable for awhile.

Being a good landlord will go a long in way in developing lasting relationships with your tenants, which will in turn, help you keep them in your property longer. Often a tenant and landlord relationship can turn an average tenant into a great one simply because they want to keep that relationship intact.

In a tough economy, it’s important to do all you can to avoid facing the difficulty of paying the mortgage. That applies just as much to an REI professional as it does to the average renter. These simple tips can help as you work to develop lasting, longterm, rent paying tenants to keep your properties bringing in the income you need every month.

6

Understanding the Foreclosure Process in NY

Understanding the foreclosure process in NY is an important part of navigating your own home foreclosure.

Before we dive in…
Understanding the Foreclosure Process in NY

What is foreclosure anyway?

Foreclosure is the legal process that lenders use to take back property securing a loan, generally after the borrower stops making payments.

Foreclosure is no fun. But just know that it’s not the end of the world.

When you know how foreclosure in NY works… it arms you with the knowledge to make sure you navigate it well and come out the other end as well as possible.

The Basic Stages of A Foreclosure

There are a few stages that are important to any foreclosure process.

Foreclosure works differently in different states around the country.

The two ways different states use to foreclose upon a property are: judicial sale or power of sale.

Connect with us by calling 516-699-8704 or through our contact page to have us walk you through the specific foreclosure process here locally in Valley Stream.

In either scenario, foreclosure typically doesn’t go to court until 3-6 months of missed payments have elapsed. Usually (but not always), a lender will send out many notices that you are in arrears – overdue or behind in your payment.

Under Judicial Foreclosure:

Your mortgage lender must file suit in the court system.

You’ll get a letter from the court demanding payment.
Assuming the loan is valid, you’ll have 30 days to bring payment to court to avoid foreclosure (and sometimes that can be extended).

If you don’t pay during the payment period, a judgment will be entered and the lender can request the sale of your property – usually through an auction.
Once the property is sold, the sheriff serves an eviction notice and forces you to immediately vacate the property.

Under Power of Sale (or Non-Judicial Foreclosure):

The mortgage lender serves you with papers demanding payment, and the courts are not required – although the process may be subject to judicial review.

After the established waiting period has elapsed, a deed of trust is drawn up and control of your property is transferred to a trustee.
The trustee can then sell your property to the lender at a public auction (notice must be given).

Anyone who has an interest in the property must be notified during either type of foreclosure.

For example, any contractors or banks with liens against a foreclosed property are entitled to collect from the proceedings of an auction.

What Happens After A Foreclosure Auction?

After a foreclosure is complete, the loan amount is paid off with the sale proceeds.

Sometimes, if the sale of the property at auction isn’t enough to pay off the loan, a deficiency judgment can be issued against the borrower.

A deficiency judgment is where the bank gets a judgment against you, the borrower, for the remaining funds owed to the bank on the loan amount after the foreclosure sale.

Some states limit the amount owed in a deficiency judgment to the fair value of the property at the time of sale, while other states will allow the full loan amount to be assessed against the borrower.

Here’s a great resource that lists the state by state deficiency judgment laws, since every state is different.

Generally, it’s best to avoid a foreclosure auction. Instead, call up the bank, or work with a reputable real estate firm like us at WIT Capital Group, LLC to help you negotiate discounts off the amount owed to avoid having to carry out a foreclosure.

Experienced investors can help you by negotiating directly with banks to lower the amount you owe in a sale – or even eliminate it, even if your home is worth less than you owe.

If you need to sell a property near Valley Stream, we can help you.

We buy houses in Valley Stream NY like yours from people who need to sell fast.

Give us a call anytime 516-699-8704

7

We Buy Houses in Valley Stream Companies – Are They Credible?

If you’ve been driving around in Valley Stream, chances are you’ve seen some billboards advertising companies that buy houses.

Often times they say things like “We Buy Valley Stream Houses!” or “Cash For Your House”.

Are These “We Buy Houses in Valley Stream Companies” Credible?

How do I know if the local house buying companies out there are honest and credible?

Well… sometimes they all look the same at the start… but below we’ll walk you through some things to look for in a local house buying company before you should work with them.

Buying and selling houses is a valid and respectable profession that can help communities and house sellers in many ways. But just like any other line of work – a minority of house buyers in any market are the ones who make the rest of us look bad.

There are people who are really great, ethical folks who improve their neighborhoods one property at a time.

And then there’s shady, dishonest people who put money ahead of the well being of their clients and who would sign the contract to sell their own grandmother with one hand while stabbing you in the back with the other – as long as they were making enough money.

Yes, they are out there.

We’ll help you avoid these “shady house buyers” so you can work with honest, ethical, and reputable local companies who can buy your house for a fair all cash offer and close on your schedule.

But let’s not focus on the negative – at least not yet.

First, let’s cover exactly what the best house-flippers are doing.
What Reputable Valley Stream House Buyers Are Doing

Helping folks improve their lives by accessing the money they needright away. People often need the cash in their house to cover unexpected medical expenses, or to relocate to be close to a relative. We can make that happen in just a few days, and we deliver peace of mind.

Helping sellers get rid of a burdensome property without the hassle of having to list it with a broker and wait months and month for a sale.

Creating local jobs. We hire plumbers, contractors, electricians, brokers, title reps, loan officers, administrators and many other folks along the way. The average real estate transaction involves 86 people from start to finish. Our investments help create real jobs for people around Valley Stream NY.

Buying US products. We spend tons of money on materials that are made right here in the USA – that creates jobs in our timber mills, factories, supply shops, distribution centers and more. The US economy depends on steady improvement, and that requires investment from folks like us.

Increasing the value of Valley Stream neighborhoods. When we improve a house, we’re helping to increase the value of the entire community. We often repair abandoned and neglected houses, turning them into beautiful homes for families. That activity strengthens Valley Stream.

Increasing the tax base. When a new buyer takes over one of our properties, they’ll pay a higher tax rate based on the new and improved value. Those taxes go to pay for our schools, fire, police, libraries, streets and other valuable pieces of infrastructure.  Again, improving our neighborhoods.

Pretty cool stuff, right?

Lots of people think of house-flipping as a get-rich-quick scheme. That’s fueled by silly “reality” shows that amp up the drama because the reality of what we do on a daily basis is actually pretty boring.

Most of our work is coordinating with lots of people to make sure things are happening on time. We have to keep track of lots of moving parts.

So let’s get back to how you can use this information to find out if someone is a credible investor, and not just pulling a house buying scam.

How To Ensure You’re Working With A Reputable Local House Buyer

When you talk with a local house buyer to potentially buy your house… ask them some of the questions below to ensure they’re reputable, knowledgeable, and honest.

Ask open-ended questions like:

How do you help your clients?
What do you do for people?
Can you tell me more about your services?
What aspect of your business makes you the proudest?
How would you describe your investment philosophy?
How can I know that you’ll close on my house when you say you will?

Second, look for tell tale signs of tactics that those few shady operators tend to use.

“Kitchen table closings” – If a property buyer tries to get you to sign the deed (ownership) of your house over to them at your house, rather than a professional place like a closing attorney or title company… be leery.  Most reputable house buying services will perform the actual closing of the sale at a neutral 3rd party place… like a title company. This ensures everything is done right and on the up and up.

Pressuring you into a fast closing – If a house buyer tries to pressure you into selling your house and says that you have to make the decision today, be leery. Most reputable house buying services will make you and offer and that offer will be on the table for at least 2-7 days (minimum) for you to make a decision.  The reason reputable house buying services like ours at WIT Capital Group, LLC do place deadlines on our offers is because the market changes and values can change week to week depending on other sales in the area, also… we buy multiple houses a month and when we make you an offer we’re assuring you that the cash to purchase your house is ready and we’ll reserve that cash for several days so if you do want to sell your house, we can close on your schedule.  If you feel the offer isn’t a fit for you, then we’ll assign those funds to help another seller with their home sale.

Most scammers are looking for a quick score, and not an in-depth interview.

Chances are good that they’ll find excuses to get off the phone and move on to someone who doesn’t ask too many questions.

True investors who run honest and ethical Valley Stream house buying services, however, are building long-term businesses based on relationships and community development.

So when you’re looking at one of the “we buy houses in Valley Stream companies“… never be afraid to ask questions!

Give us a call anytime at 516-699-8704 or
fill out the form on this website today! >>

9

How to Sell Your House to an Investor in Valley Stream NY

Home ownership just isn’t what it was in the 1950’s.

In the past, people would buy a home and live there for the rest of their lives, often passing it on to their family. Things have changed. Many first-time homebuyers are going into it with the attitude that they’ll sell when it’s time for a change. If you’re looking to sell your house, you could be frustrated.

Despite the market trends in Valley Stream slowly shifting, it’s still very much a buyer’s market. With so much property available, you could find yourself waiting months or longer to get a fair price on your home.

How To Sell Your House To An Investor in Valley Stream

One option that many homeowners are turning to is selling to a real estate investor like WIT Capital Group, LLC to buy your house from you.

These independent investors typically purchase homes, repair them, and then use them to generate income; either as rental units or sell them for a profit. Valley Stream has numerous reputable and trusted real estate investors who will help you sell your home quickly.

Selling your house to an investor is relatively simple.

You provide him or her with information about your home and personal situation.

The investor will then inspect the home and determine a fair value, taking into account necessary repairs, and make an offer. If the offer works for you, you’ll close, and receive the payment for your house in cash… usually within 7 days if you want to close that fast.

How Fast Can You Sell Your House To Local Investor?

This process is extremely quick compared to more traditional methods, often taking just 7-10 days.

If you need to sell your Valley Stream home very quickly, with little hassle, selling to a Valley

Stream real estate investor is a great option.

When you work with a real estate investor… there usually aren’t any fees involved, as you don’t have to worry about paying an agent commission, and most often, the investor will cover the closing costs.

While real estate investors are often looking to purchase homes at a discount, allowing them to fix up the house if it needs repairs… then sell the home to another home owner.

The Hidden Costs Of Waiting To Sell Your Valley Stream House

Many people don’t consider the hidden costs of holding on to a property.

Extra months of mortgage payments, utilities, maintenance costs, and other fees could quickly add up. By selling at a slight discount, you could potentially end up with a larger sum in the long run.

By selling your home to a real estate investor, you’re saving yourself possible months of headache, and you can quickly move on to your new home. You’ll avoid expensive fees, closing costs, and investors will purchase your home as-is, assuming the costs of repairs that you’d have to pay if you were selling via more traditional means.

Fill out the form below to get a fast cash offer on your home!

Give us a call anytime at 516-699-8704 or
fill out the form on this website today! >>

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We pay cash for homes in and surrounding areas. So how does the process work? See in this quick article how you can sell your local house fast for cash… .

Are you asking “Why won’t my house sell in Valley Stream?” There are several factors preventing your NY house from selling. This post will walk through some important tips on selling your house fast…

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