The Foreclosure Process in New Orleans

Foreclosure is a legal process through which a bank or other lender tries to recover the balance of a loan from a borrower who has gotten behind on mortgage payments, or has stopped making them altogether. In response, the lender forecloses on the mortgage and seizes the home.

Homeowners stop making their mortgage payments for various reasons, including loss of a job, excessive debt, and the inability to work because of a health problem. Beyond the loss of a home and the damage that can do to you and your family, the devastating consequences of foreclosure also include loss of any equity built up in the home, and a reduction of credit available for starting over.

Missed mortgage payments and defaults will remain on your credit report for seven years, limiting your purchasing power as well as your ability to rent an apartment or even get a job. But you have options.

How We Help New Orleans Homeowners Stop Foreclosures

Those facing foreclosure are motivated to sell their property immediately, and cannot necessarily afford to wait to sell their home through traditional means, such as listing it with a realtor. They often can’t even afford the repairs needed to put their house on the market.

If this describes you, we need to talk.

Big Easy Buyers offers fast and easy solutions to help you avoid foreclosure in New Orleans and meet your immediate needs to sell your home fast. This typically means a cash offer on the spot during our initial meeting and a close within 14-30 days.