1 00:00:00,099 --> 00:00:06,980 (instrumental music plays) 2 00:00:06,980 --> 00:00:10,059 Hey there. Welcome to the Danny Buys Houses podcast. 3 00:00:10,059 --> 00:00:14,380 I'm your host, Danny Johnson, coming to you from beautiful San Antonio, Texas. 4 00:00:14,380 --> 00:00:17,879 I love it here. Uh, (laughs) and hopefully you do too. 5 00:00:17,899 --> 00:00:22,599 I mean, it's gets really hot during the summertime but, uh, it's just a, a great city. I love it a lot. 6 00:00:22,619 --> 00:00:24,519 Anyway, don't know why I got into that. All right. 7 00:00:24,840 --> 00:00:29,819 If you're behind on house payments and foreclosure is looming, this episode is for 8 00:00:29,899 --> 00:00:30,159 you. 9 00:00:30,799 --> 00:00:35,600 Today we're talking about how to avoid losing your home and your equity by selling to a cash home buyer like 10 00:00:35,619 --> 00:00:36,620 Danny Buys Houses. 11 00:00:37,380 --> 00:00:42,200 We're gonna cover your options, how fast we can move, and some listener questions as well, so let's just 12 00:00:42,299 --> 00:00:47,180 jump right in. (bell dings) First things first, I'm not an attorney, and this isn't legal 13 00:00:47,219 --> 00:00:52,179 advice. I'm a guy who's been buying houses in San Antonio for over 20 years, helping folks like you 14 00:00:52,219 --> 00:00:56,679 through tough spots. If you need legal help, talk to a pro, talk to an attorney. 15 00:00:56,959 --> 00:00:57,339 Okay? 16 00:00:57,939 --> 00:01:01,179 Good. Let's move on. Foreclosure is rough. 17 00:01:01,179 --> 00:01:03,059 There's no, there's no denying that. 18 00:01:03,099 --> 00:01:04,279 You know, you're behind on payments 19 00:01:05,119 --> 00:01:06,519 situation, you know, 20 00:01:07,639 --> 00:01:12,599 bad things happen to good people all the time, and people end up in situations, you know, where, you know, 21 00:01:12,639 --> 00:01:17,299 life just gets difficult and it really causes these, these issues, and you end up behind 22 00:01:17,359 --> 00:01:19,979 on... The house ends up behind on the house payments and 23 00:01:20,699 --> 00:01:25,279 the, the mortgage lender sends a notice of default, and suddenly you're staring at an accelerated 24 00:01:25,339 --> 00:01:29,159 mortgage and foreclosure auction is looming. So it, it's stressful. 25 00:01:29,159 --> 00:01:29,739 I mean, I don't, 26 00:01:30,839 --> 00:01:35,339 I don't think that there could be many other things as more stressful than that, especially, you know, it's 27 00:01:35,339 --> 00:01:40,179 the home that you live in. So sleepless nights, phone calls from the bank, you know, some, 28 00:01:40,239 --> 00:01:45,099 some shame in there. You know, I've seen it hit hard and, and you might lose your home and all the 29 00:01:45,099 --> 00:01:46,499 equity that you've built. So, 30 00:01:47,119 --> 00:01:51,819 uh, that's money that you've poured in that would just be gone. But it doesn't have to end that way. 31 00:01:51,819 --> 00:01:53,779 Now let's talk about the options, okay? 32 00:01:54,859 --> 00:01:57,919 Uh, one is that you could try a loan modification. 33 00:01:57,919 --> 00:02:02,759 You can ask the bank to, to change your payments a little bit to make it possible to try 34 00:02:02,799 --> 00:02:07,439 to get back into getting things going in the right direction. So it's slow. 35 00:02:07,899 --> 00:02:11,139 They don't we- don't always say yes, but it's something that you can definitely try. 36 00:02:11,759 --> 00:02:16,559 All right, two, a short sale. So if you owe a lot o- uh, for the house, 37 00:02:17,099 --> 00:02:21,759 and, uh, you don't think you could sell it quickly for, for what's owed on it, you can 38 00:02:21,999 --> 00:02:26,819 talk to them. You can ask them. You can ask the lender if you can s- if they would be willing to 39 00:02:26,839 --> 00:02:30,999 take less than what is owed on your balance for the property. All right? 40 00:02:31,439 --> 00:02:32,559 So this could take months. 41 00:02:33,539 --> 00:02:38,459 Uh, we've been through this before. Uh, there's a lot of hoops to jump through, and your credit still 42 00:02:38,479 --> 00:02:42,779 is gonna take a hit. It's not gonna necessarily show that foreclosure, but it's still gonna take a hit. 43 00:02:42,779 --> 00:02:45,259 It's not gonna salvage your credit completely. 44 00:02:45,819 --> 00:02:50,719 Um, and then after, even if the short sale is approved, uh, they could 45 00:02:50,719 --> 00:02:54,859 file a judgment against you for the amount of money they reduced your payoff by. 46 00:02:54,979 --> 00:02:56,359 So if your, 47 00:02:57,099 --> 00:03:01,699 you know, if your, if your mortgage was, you know, $200,000, they agreed 48 00:03:01,739 --> 00:03:02,139 to, 49 00:03:03,099 --> 00:03:07,699 uh, sh- allow you to short sale it so just take a payoff of $150,000 instead of 50 00:03:07,739 --> 00:03:12,459 $200,000, they could file a judgment for that $50,000 difference saying that that's... 51 00:03:12,819 --> 00:03:15,719 that there's a judgment against you for that amount of money, okay? 52 00:03:15,719 --> 00:03:17,919 And, and nobody wants to have that happen. 53 00:03:18,439 --> 00:03:23,319 Um, I can't say that that happens all the time in our experience, but it, it could happen and you 54 00:03:23,319 --> 00:03:24,239 gotta know about it. 55 00:03:25,259 --> 00:03:28,659 Uh, three, a deed in lieu of foreclosure. 56 00:03:28,659 --> 00:03:31,679 You could just hand, hand the house back to the bank. All right? 57 00:03:31,699 --> 00:03:36,539 You walk away, but you get nothing. And, uh, that is an option, right? 58 00:03:36,659 --> 00:03:39,259 You know, a lot of, uh, lenders will consider that. 59 00:03:39,279 --> 00:03:39,879 You just, uh, 60 00:03:40,519 --> 00:03:42,759 hand the house over and, and say you're just done with it. 61 00:03:42,779 --> 00:03:42,999 So, 62 00:03:43,939 --> 00:03:47,399 uh, four, let it go to auction. Now, that's the worst, right? 63 00:03:47,699 --> 00:03:49,199 Zero control, zero cash, 64 00:03:50,139 --> 00:03:54,319 you know, credit's messed up, and, uh, all kinds of issues there. 65 00:03:54,359 --> 00:03:54,659 So, 66 00:03:55,659 --> 00:04:00,059 there is a better way though. And you know that (laughs) I'm gonna tell you this option because you're 67 00:04:00,079 --> 00:04:04,239 listening to the Danny Buys Houses podcast. But you can sell to a cash buyer. 68 00:04:05,079 --> 00:04:08,319 Uh, you can sell to a cash home buyer and, you know, 69 00:04:08,959 --> 00:04:13,639 you're probably asking, "Why?" Well, you get to keep some of your equity, right? Or what's left of it. 70 00:04:13,639 --> 00:04:15,059 You can skip the auction nightmare. 71 00:04:15,859 --> 00:04:18,939 Uh, and pre-foreclosure, you still have time to a- to act. 72 00:04:19,359 --> 00:04:24,079 You know, we buy your house as is, pay cash, and close fast. That's the key thing is closing fast. 73 00:04:24,559 --> 00:04:27,139 And you get money in your pocket instead of losing everything, right? 74 00:04:28,179 --> 00:04:28,479 Um, 75 00:04:30,099 --> 00:04:33,499 you know, sometimes there's not a whole lot of time and you gotta be careful about who you're selling to, 76 00:04:33,519 --> 00:04:37,819 right? You could decide, hey, yeah, I will sell to a cash home buyer because I wanna move fast, sell it as is, 77 00:04:38,399 --> 00:04:40,259 and have it all done. Well, you gotta make sure that 78 00:04:40,939 --> 00:04:43,599 the home buyer that you choose is a legitimate home buyer. 79 00:04:43,899 --> 00:04:47,559 So whether you go with Danny Buys Houses or someone else, please do your homework on them. 80 00:04:48,099 --> 00:04:52,779 Uh, do a search for their business name on Google, uh, look for reviews on Facebook, on 81 00:04:52,819 --> 00:04:56,819 Google, and, uh, you know, are they Better Business Bureau accredited? 82 00:04:57,459 --> 00:05:01,859 Uh, find out if there's reviews there. Um, just check 'em out, right? 83 00:05:02,959 --> 00:05:06,259 Uh, you know, you can even go as far as acting, asking each 84 00:05:06,939 --> 00:05:08,119 cash home buyer that you talk to 85 00:05:08,779 --> 00:05:13,599 who closes their deals, which title company, which closer, get their contact information, talk to them. 86 00:05:14,659 --> 00:05:16,759 Have they actually been closing deals there, you know? 87 00:05:16,759 --> 00:05:19,699 Or have they had to walk away from deals where they didn't close? 88 00:05:20,319 --> 00:05:24,079 You know, you wanna get that information because, you know, the situation requires you 89 00:05:24,699 --> 00:05:26,979 to do a little bit of homework to make sure things are gonna go well. 90 00:05:29,259 --> 00:05:33,959 And, you know, you just, you don't wanna end up in a situation where they don't close and then auction is in 91 00:05:33,979 --> 00:05:37,899 two days and then, you know, what are you gonna do, right? Like, that's, that's not cool, so. 92 00:05:39,279 --> 00:05:41,419 All right, how does it work? Well, you call us, 93 00:05:41,479 --> 00:05:46,299 210-881-7707, or you hit us up at 94 00:05:46,379 --> 00:05:47,699 dannybuyshouses.com. 95 00:05:48,379 --> 00:05:53,079 Uh, fill out that CashFast, uh, Fast Cash Offer Form, CashFast, FastCash 96 00:05:53,579 --> 00:05:56,519 Offer Form and, uh, we'll schedule an appointment, check out your house. 97 00:05:57,119 --> 00:06:01,199 Uh, and regardless of whether there's any problems with the house like foundation problems, you got old 98 00:06:01,259 --> 00:06:06,219 roof, AC problems, plumbing issues, doesn't matter, we make a fair cash offer based 99 00:06:06,239 --> 00:06:08,939 on its value, what repairs are gonna be required. 100 00:06:09,459 --> 00:06:12,839 And no repairs, no waiting, you can have that house sold. 101 00:06:13,399 --> 00:06:16,679 So speed is key here, right? Foreclosure moves quick in Texas. 102 00:06:17,179 --> 00:06:19,839 Uh, sometimes just 21 days after the notice of default. 103 00:06:20,159 --> 00:06:23,239 We can close in a week or even several days if we have to, right? 104 00:06:23,819 --> 00:06:25,399 Uh, you know, we've done it before. 105 00:06:26,439 --> 00:06:29,399 I worked with a guy a couple years ago. His house was set for auction the next week. 106 00:06:29,919 --> 00:06:34,719 We met, made an offer, he agreed, we got the, uh, the, the, uh, purchase 107 00:06:34,739 --> 00:06:35,419 agreement signed 108 00:06:36,059 --> 00:06:40,919 and got it to the title company right away, rushed that title search, and, uh, we closed in, 109 00:06:40,999 --> 00:06:45,759 in, I think it was like three days. Paid off the bank, pocketed a little cash, and avoided all the 110 00:06:45,799 --> 00:06:50,519 mess. And so, uh, that's what we do. We step in when the time bomb is 111 00:06:50,739 --> 00:06:52,579 ticking and help to, uh, 112 00:06:53,559 --> 00:06:55,019 to alleviate that, put that thing out. 113 00:06:55,059 --> 00:06:55,219 So 114 00:06:55,939 --> 00:06:59,359 selling to us isn't about getting rich, it's about saving what you can. 115 00:06:59,359 --> 00:07:03,079 You know, if you've got no equity or you owe more than it's worth, we can still help. 116 00:07:03,079 --> 00:07:06,379 We, we negotiate with the lender to take it off your hands, uh, so that you're free. 117 00:07:06,379 --> 00:07:08,739 Either way, you are not stuck, okay? 118 00:07:09,359 --> 00:07:13,999 Uh, there's things that can be tried and we talked about some of those earlier in the podcast episode. 119 00:07:14,839 --> 00:07:19,339 All right, let's jump into some of the listener questions that we've got, uh, from listeners to the Danny 120 00:07:19,359 --> 00:07:23,579 Buys Houses podcast. The first one here, "I got a foreclosure notice. 121 00:07:23,699 --> 00:07:27,099 How fast can you buy?" This is from Maria in San Antonio. 122 00:07:27,099 --> 00:07:27,499 Maria, 123 00:07:28,139 --> 00:07:33,079 we can move in days like we just mentioned, three if it's an emergency or s- you know, sometimes maybe even 124 00:07:33,159 --> 00:07:36,219 two. It g- it gets real tough. Uh, tell us your auction date. 125 00:07:36,219 --> 00:07:40,659 We're gonna, we can beat it and, uh, you can keep some equity and skip the stress. Just reach out to us. 126 00:07:41,399 --> 00:07:45,759 All right, next one. "My house needs repairs. Does that kill my equity?" That's Mike in Leon Valley. 127 00:07:45,779 --> 00:07:49,999 Hey, Mike. Nope. You know, we buy as is, leaky roof, foundation issues, whatever. 128 00:07:50,019 --> 00:07:51,619 Your equity is tied to the value, 129 00:07:52,339 --> 00:07:56,299 uh, not the shape. W- you know, obviously we gotta, you know, buy it less 'cause we gotta take care of those, 130 00:07:56,359 --> 00:07:59,439 those repairs. But, um, you know, we still figure it out and make it work. 131 00:07:59,979 --> 00:08:04,919 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, 132 00:08:04,939 --> 00:08:09,899 get some more information. And then, you know, figure out what we can offer you and see if that works out with 133 00:08:10,019 --> 00:08:10,559 what, uh, 134 00:08:11,339 --> 00:08:16,159 uh, how much equity, you know, you've got and, and what the payoff is for, for the loan and all that 135 00:08:16,179 --> 00:08:20,429 stuff. So just reach out to us. We can, we can see.All right, Mike. 136 00:08:21,009 --> 00:08:23,549 All right, last one here. We got, "Can I sell it 137 00:08:24,149 --> 00:08:27,169 if I owe more than it's worth?" This is from Linda in Alamo Heights. 138 00:08:27,189 --> 00:08:27,690 Hey, Linda, 139 00:08:28,410 --> 00:08:33,169 uh, s- no, sorry. You know, you might be able to do a short sale with your lender that we talked about 140 00:08:33,229 --> 00:08:35,229 earlier in the episode or find a way to settle it. 141 00:08:35,710 --> 00:08:37,089 Uh, you're not gonna get cash though, 142 00:08:37,710 --> 00:08:40,349 uh, but you'll dodge the foreclosure if you can make that work. 143 00:08:40,370 --> 00:08:45,209 So, um, you can reach out to us. We can point you in the right direction of, of who to talk 144 00:08:45,209 --> 00:08:50,049 to and, and, uh, how to work out with that though if, if you, uh, find that that's the 145 00:08:50,069 --> 00:08:50,669 case for you. 146 00:08:51,450 --> 00:08:55,130 All right, if anybody else has any more questions, send 'em over. I'm here for you. 147 00:08:56,290 --> 00:09:00,629 Now, let's see here. Ready... You know, if you're ready to avoid foreclosure, 148 00:09:01,889 --> 00:09:06,790 like I said, here, here's a start. Go to dannybuyshouse.com, find that fast cas- uh, cash offer 149 00:09:06,849 --> 00:09:08,970 form. Takes about two minutes to fill out. 150 00:09:08,970 --> 00:09:13,189 Tell us about your house, how much you owe, where you're at with the payments, um, submit it. 151 00:09:13,189 --> 00:09:13,989 We'll give you a call, 152 00:09:14,610 --> 00:09:18,129 schedule an appointment to come see the house and make you an offer, and then we can go from there. 153 00:09:18,709 --> 00:09:20,249 Um, we visit your house. 154 00:09:21,189 --> 00:09:23,389 You know, if we come to an agreement, we get that to the title company. 155 00:09:23,389 --> 00:09:27,509 Title company does all the paperwork, so there's nothing you have to worry about with that. 156 00:09:28,089 --> 00:09:32,989 And, uh, there's no cost to you. There's no fee for us going out there making an offer and no obligation 157 00:09:33,069 --> 00:09:33,970 for you to, uh, 158 00:09:34,929 --> 00:09:35,729 uh, to, 159 00:09:36,409 --> 00:09:39,589 to take the offer. So you can always say no if you don't want to, all right? 160 00:09:40,110 --> 00:09:44,829 And I know foreclosure feels like a freight train coming at you. I've seen folks cry thinking it's over. 161 00:09:44,830 --> 00:09:49,250 It's not. I started Danny Buys Hou- Houses to help people out with problems like this. 162 00:09:49,849 --> 00:09:51,989 So if you're behind on payments, facing the worst, 163 00:09:52,629 --> 00:09:56,210 you know, imagine no auction, no eviction, just cash and a fresh start. 164 00:09:56,849 --> 00:10:00,370 Um, that's what we're, what we're about here. We can help you do that most times. 165 00:10:00,709 --> 00:10:05,469 All right, head over to dannybuyshouse.com. Fill out that cas- fast cash offer form and let's talk. 166 00:10:05,869 --> 00:10:07,949 I'm Danny Johnson. I've got your back, San Antonio. 167 00:10:08,769 --> 00:10:12,610 All right, thanks for tuning in, everyone. Share this with someone facing foreclosure. 168 00:10:13,009 --> 00:10:15,669 Uh, they need it. Next time, we're gonna tackle, 169 00:10:16,349 --> 00:10:20,089 uh, let me see. What is next time? What are we gonna tackle here? 170 00:10:20,209 --> 00:10:21,549 Just give me one second. 171 00:10:22,449 --> 00:10:27,189 Next time we're gonna tackle, you know, current San Antonio real estate trends. So tune in. 172 00:10:27,189 --> 00:10:31,889 Don't miss that. This is Danny Johnson saying take care. Let's stop that foreclosure. 173 00:10:32,389 --> 00:10:33,169 See you soon.