Getting loans to cancel foreclosures is our last chance before losing our home or selling it badly.
Situations of economic crisis, loss of employment or ruinous businesses can lead to delicate economic moments.
These moments can affect our economy and cause defaults, debts or arrears that can affect our assets through a judicial seizure on our assets.
The solution to these difficult situations is to get loans to cancel liens.
Receiving a Notice of Garnishment
I hope you have never experienced this situation:
You are at home, relaxed, suddenly the doorbell rings.
Postman! You have a registered letter.
It's a notification from the court. The problems begin ...
This can be a situation that we can all find ourselves in at some point in our life. We can be an entrepreneur and due to business circumstances accumulate debts, or be a worker who loses his job and suddenly cannot pay his loans or credits.
It is an ideal situation so that at any time we can receive an embargo on a property in our domain.
The next step to take as soon as we know the origin and the amount in euros of the problem, will be to obtain the necessary money to be able to solve the situation.
Today the conditions for a financial institution to grant you a loan are much tougher than in the past, and even more so if you have a serious incident such as a judicial seizure, Financial Credit Institutions, etc.
Faced with these difficulties, we usually go to friends and family, but what happens when the amount needed is not available to those close to us?
Solutions to stop a judicial embargo
You will never imagine how complicated it is to find an unknown individual to make you a loan until you find yourself in the delicate situation of having to look for lenders .
When you get down to business and are looking for quick money solutions, you usually go to press announcements, consult with lawyers or simply google the necessary options. The offer can be very varied and the situation can become even more complicated if possible with the appearance of financial agents that mediate in the operation.
Many intermediaries will drive up costs and increase the risk that a credit transaction will turn into a pack of lions.
To avoid this type of situation, a loan platform between individuals or for even more specific cases of Private Equity loans , put people who are looking for credit solutions to cancel judicial liens in contact with individual lenders who will offer their money under conditions previously agreed.
This environment favors a legal and informative framework that allows a situation to cancel a judicial embargo on a property of our heritage to have a less traumatic solution.
Canceling a lien on our property
We did it! We have found a lender who is in a position to make an offer to cancel a lien on our property.
The economic conditions tend to be generally harsher than those that a bank can usually offer.
The lender is facing a credit operation assuming 100% of the risk.
What does this mean?
If for some reason you do not repay the loan, the investor may "lose" his entire investment. For this reason, many lenders require an endorsement or guarantee to be able to face the operation.
Let's see an example:
A self-employed person has had financial difficulties and has not been able to pay the social security contributions of his workers, so he has an accumulated debt with social security of € 38,000.
Social security in its claim to collect the amount owed, makes a lien on a property of its ownership for the amount owed.
This freelancer finds the solution to solve his problem in a loan platform.
As a general rule, the loans that are made in this type of operation establish a maximum limit on the appraised value of the property that has the seizure.
This limit is usually set at 30% of the VTM (market appraised value).
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