Facing foreclosure is one of the most stressful situations a homeowner can experience. In Roanoke, VA, hundreds of families each year find themselves behind on mortgage payments and unsure where to turn. The good news? You have more options than you might think, some can even help you keep your home, while others allow you to sell before the bank takes it.
At Journey Home Buyers LLC, we’ve helped countless Roanoke homeowners navigate this process with clarity and dignity. Here’s what you need to know.
1. Understanding Foreclosure in Virginia
In Virginia, foreclosure typically moves fast because the state follows a non-judicial process. That means a lender can begin foreclosure proceedings without going to court.
- Missed Payments: Usually, foreclosure begins after 3–6 months of missed mortgage payments.
- Notice of Default: You’ll receive a certified letter from your lender.
- Sale Date Set: In some cases, the property can be sold at auction in as little as 60–90 days from the notice date.
If you’ve received a Notice of Default or Notice of Trustee Sale, time is critical.
2. Your Options to Stop Foreclosure in Roanoke
A. Loan Modification
Negotiate with your lender to change your loan terms—lowering payments or extending the repayment period.
Best for: Homeowners who want to stay in the home and can afford adjusted payments.
B. Forbearance
Your lender may agree to temporarily pause or reduce payments, giving you time to get back on track financially.
Best for: Short-term hardships like job loss or medical bills.
C. Reinstatement
If you can pay the total past-due amount (plus fees) before the foreclosure date, you can reinstate the loan.
Best for: Those expecting a lump sum (bonus, tax refund, inheritance).
D. Short Sale
Sell your home for less than you owe—lender agrees to accept the lower amount as full payment.
Best for: Underwater mortgages where the property’s value has dropped.
E. Selling Before Foreclosure
You can sell your home quickly to avoid the damage of foreclosure on your credit report.
This is where Journey Home Buyers LLC comes in. We can make a fair cash offer and close in as little as 7 days—well before your sale date.
Benefits:
- Stop foreclosure immediately
- Avoid auction and public record stigma
- Get cash to start fresh
- Sell “as-is” (no repairs, no cleaning)
F. Bankruptcy
Filing for bankruptcy can halt foreclosure temporarily, but it has significant credit consequences and should be a last resort.
3. Why Selling Before Foreclosure is Often the Best Choice
While loan modifications or short sales can work, many Roanoke homeowners find that a fast cash sale is the cleanest way to protect their credit, remove the debt, and move forward.
At Journey Home Buyers LLC:
- We buy as-is—you don’t spend a dime on repairs.
- You choose the closing date.
- No real estate commissions or closing costs.
- We handle all the paperwork with local attorneys.
4. How We Help Roanoke Homeowners in Foreclosure
- Contact Us Immediately – Time is everything.
- Get a Fair Cash Offer in 24 Hours – No obligation.
- Close Before the Auction Date – Stop foreclosure in its tracks.
Even if the foreclosure date is weeks away, we can often work with your lender to delay the sale while we close.
5. Take Action Before It’s Too Late
If you’re facing foreclosure in Roanoke, don’t wait—every day counts.
Contact Journey Home Buyers LLC for a confidential, no-obligation conversation about your options. We’ll walk you through solutions and help you make the choice that’s right for you and your family.
📍 Serving Roanoke, Roanoke County, Salem, and surrounding Virginia communities.