(instrumental music plays)
Hey there. Welcome to the Danny Buys Houses podcast.
I'm your host, Danny Johnson, coming to you from beautiful San Antonio, Texas.
I love it here. Uh, (laughs) and hopefully you do too.
I mean, it's gets really hot during the summertime but, uh, it's just a, a great city. I love it a lot.
Anyway, don't know why I got into that. All right.
If you're behind on house payments and foreclosure is looming, this episode is for
you.
Today we're talking about how to avoid losing your home and your equity by selling to a cash home buyer like
Danny Buys Houses.
We're gonna cover your options, how fast we can move, and some listener questions as well, so let's just
jump right in. (bell dings) First things first, I'm not an attorney, and this isn't legal
advice. I'm a guy who's been buying houses in San Antonio for over 20 years, helping folks like you
through tough spots. If you need legal help, talk to a pro, talk to an attorney.
Okay?
Good. Let's move on. Foreclosure is rough.
There's no, there's no denying that.
You know, you're behind on payments
situation, you know,
bad things happen to good people all the time, and people end up in situations, you know, where, you know,
life just gets difficult and it really causes these, these issues, and you end up behind
on... The house ends up behind on the house payments and
the, the mortgage lender sends a notice of default, and suddenly you're staring at an accelerated
mortgage and foreclosure auction is looming. So it, it's stressful.
I mean, I don't,
I don't think that there could be many other things as more stressful than that, especially, you know, it's
the home that you live in. So sleepless nights, phone calls from the bank, you know, some,
some shame in there. You know, I've seen it hit hard and, and you might lose your home and all the
equity that you've built. So,
uh, that's money that you've poured in that would just be gone. But it doesn't have to end that way.
Now let's talk about the options, okay?
Uh, one is that you could try a loan modification.
You can ask the bank to, to change your payments a little bit to make it possible to try
to get back into getting things going in the right direction. So it's slow.
They don't we- don't always say yes, but it's something that you can definitely try.
All right, two, a short sale. So if you owe a lot o- uh, for the house,
and, uh, you don't think you could sell it quickly for, for what's owed on it, you can
talk to them. You can ask them. You can ask the lender if you can s- if they would be willing to
take less than what is owed on your balance for the property. All right?
So this could take months.
Uh, we've been through this before. Uh, there's a lot of hoops to jump through, and your credit still
is gonna take a hit. It's not gonna necessarily show that foreclosure, but it's still gonna take a hit.
It's not gonna salvage your credit completely.
Um, and then after, even if the short sale is approved, uh, they could
file a judgment against you for the amount of money they reduced your payoff by.
So if your,
you know, if your, if your mortgage was, you know, $200,000, they agreed
to,
uh, sh- allow you to short sale it so just take a payoff of $150,000 instead of
$200,000, they could file a judgment for that $50,000 difference saying that that's...
that there's a judgment against you for that amount of money, okay?
And, and nobody wants to have that happen.
Um, I can't say that that happens all the time in our experience, but it, it could happen and you
gotta know about it.
Uh, three, a deed in lieu of foreclosure.
You could just hand, hand the house back to the bank. All right?
You walk away, but you get nothing. And, uh, that is an option, right?
You know, a lot of, uh, lenders will consider that.
You just, uh,
hand the house over and, and say you're just done with it.
So,
uh, four, let it go to auction. Now, that's the worst, right?
Zero control, zero cash,
you know, credit's messed up, and, uh, all kinds of issues there.
So,
there is a better way though. And you know that (laughs) I'm gonna tell you this option because you're
listening to the Danny Buys Houses podcast. But you can sell to a cash buyer.
Uh, you can sell to a cash home buyer and, you know,
you're probably asking, "Why?" Well, you get to keep some of your equity, right? Or what's left of it.
You can skip the auction nightmare.
Uh, and pre-foreclosure, you still have time to a- to act.
You know, we buy your house as is, pay cash, and close fast. That's the key thing is closing fast.
And you get money in your pocket instead of losing everything, right?
Um,
you know, sometimes there's not a whole lot of time and you gotta be careful about who you're selling to,
right? You could decide, hey, yeah, I will sell to a cash home buyer because I wanna move fast, sell it as is,
and have it all done. Well, you gotta make sure that
the home buyer that you choose is a legitimate home buyer.
So whether you go with Danny Buys Houses or someone else, please do your homework on them.
Uh, do a search for their business name on Google, uh, look for reviews on Facebook, on
Google, and, uh, you know, are they Better Business Bureau accredited?
Uh, find out if there's reviews there. Um, just check 'em out, right?
Uh, you know, you can even go as far as acting, asking each
cash home buyer that you talk to
who closes their deals, which title company, which closer, get their contact information, talk to them.
Have they actually been closing deals there, you know?
Or have they had to walk away from deals where they didn't close?
You know, you wanna get that information because, you know, the situation requires you
to do a little bit of homework to make sure things are gonna go well.
And, you know, you just, you don't wanna end up in a situation where they don't close and then auction is in
two days and then, you know, what are you gonna do, right? Like, that's, that's not cool, so.
All right, how does it work? Well, you call us,
210-881-7707, or you hit us up at
dannybuyshouses.com.
Uh, fill out that CashFast, uh, Fast Cash Offer Form, CashFast, FastCash
Offer Form and, uh, we'll schedule an appointment, check out your house.
Uh, and regardless of whether there's any problems with the house like foundation problems, you got old
roof, AC problems, plumbing issues, doesn't matter, we make a fair cash offer based
on its value, what repairs are gonna be required.
And no repairs, no waiting, you can have that house sold.
So speed is key here, right? Foreclosure moves quick in Texas.
Uh, sometimes just 21 days after the notice of default.
We can close in a week or even several days if we have to, right?
Uh, you know, we've done it before.
I worked with a guy a couple years ago. His house was set for auction the next week.
We met, made an offer, he agreed, we got the, uh, the, the, uh, purchase
agreement signed
and got it to the title company right away, rushed that title search, and, uh, we closed in,
in, I think it was like three days. Paid off the bank, pocketed a little cash, and avoided all the
mess. And so, uh, that's what we do. We step in when the time bomb is
ticking and help to, uh,
to alleviate that, put that thing out.
So
selling to us isn't about getting rich, it's about saving what you can.
You know, if you've got no equity or you owe more than it's worth, we can still help.
We, we negotiate with the lender to take it off your hands, uh, so that you're free.
Either way, you are not stuck, okay?
Uh, there's things that can be tried and we talked about some of those earlier in the podcast episode.
All right, let's jump into some of the listener questions that we've got, uh, from listeners to the Danny
Buys Houses podcast. The first one here, "I got a foreclosure notice.
How fast can you buy?" This is from Maria in San Antonio.
Maria,
we can move in days like we just mentioned, three if it's an emergency or s- you know, sometimes maybe even
two. It g- it gets real tough. Uh, tell us your auction date.
We're gonna, we can beat it and, uh, you can keep some equity and skip the stress. Just reach out to us.
All right, next one. "My house needs repairs. Does that kill my equity?" That's Mike in Leon Valley.
Hey, Mike. Nope. You know, we buy as is, leaky roof, foundation issues, whatever.
Your equity is tied to the value,
uh, not the shape. W- you know, obviously we gotta, you know, buy it less 'cause we gotta take care of those,
those repairs. But, um, you know, we still figure it out and make it work.
So, you know, the best thing to do is just reach out to us, let us take a look at it, take a look at the situation,
get some more information. And then, you know, figure out what we can offer you and see if that works out with
what, uh,
uh, how much equity, you know, you've got and, and what the payoff is for, for the loan and all that
stuff. So just reach out to us. We can, we can see.All right, Mike.
All right, last one here. We got, "Can I sell it
if I owe more than it's worth?" This is from Linda in Alamo Heights.
Hey, Linda,
uh, s- no, sorry. You know, you might be able to do a short sale with your lender that we talked about
earlier in the episode or find a way to settle it.
Uh, you're not gonna get cash though,
uh, but you'll dodge the foreclosure if you can make that work.
So, um, you can reach out to us. We can point you in the right direction of, of who to talk
to and, and, uh, how to work out with that though if, if you, uh, find that that's the
case for you.
All right, if anybody else has any more questions, send 'em over. I'm here for you.
Now, let's see here. Ready... You know, if you're ready to avoid foreclosure,
like I said, here, here's a start. Go to dannybuyshouse.com, find that fast cas- uh, cash offer
form. Takes about two minutes to fill out.
Tell us about your house, how much you owe, where you're at with the payments, um, submit it.
We'll give you a call,
schedule an appointment to come see the house and make you an offer, and then we can go from there.
Um, we visit your house.
You know, if we come to an agreement, we get that to the title company.
Title company does all the paperwork, so there's nothing you have to worry about with that.
And, uh, there's no cost to you. There's no fee for us going out there making an offer and no obligation
for you to, uh,
uh, to,
to take the offer. So you can always say no if you don't want to, all right?
And I know foreclosure feels like a freight train coming at you. I've seen folks cry thinking it's over.
It's not. I started Danny Buys Hou- Houses to help people out with problems like this.
So if you're behind on payments, facing the worst,
you know, imagine no auction, no eviction, just cash and a fresh start.
Um, that's what we're, what we're about here. We can help you do that most times.
All right, head over to dannybuyshouse.com. Fill out that cas- fast cash offer form and let's talk.
I'm Danny Johnson. I've got your back, San Antonio.
All right, thanks for tuning in, everyone. Share this with someone facing foreclosure.
Uh, they need it. Next time, we're gonna tackle,
uh, let me see. What is next time? What are we gonna tackle here?
Just give me one second.
Next time we're gonna tackle, you know, current San Antonio real estate trends. So tune in.
Don't miss that. This is Danny Johnson saying take care. Let's stop that foreclosure.
See you soon.