Missed a few payments, or received a notice of default? This is the best time to act, you have the most options and the most control. We buy homes as-is for cash, quietly and quickly, so you can resolve things before they reach auction.
Fair Value Investments is a private real-estate investor buying for our own account. We are not a broker, lender, attorney, or government agency, and we charge no fee to make an offer.
Roughly what is owed on the loan, the condition of the house, and whether any letters have arrived. Estimates are fine.
We give you a cash figure and show how we reached it, next to what listing the house would likely net, so you can weigh both.
There is no deadline from us. If you accept, a title company pays the loan off from the sale proceeds at closing.
The earlier you move, the more choices you have. Selling for a fair cash price now can let you clear the mortgage, protect your credit from a completed foreclosure, and move on with money in your pocket. You can also talk to a free HUD-approved housing counselor or your lender, selling to us is simply one clean option.
Missing a mortgage payment does not start a court case on its own. What usually comes first is contact from the loan servicer: calls, letters and statements showing the past-due amount and late charges. Federal mortgage servicing rules require servicers to reach out to borrowers who fall behind and to tell them about options the servicer offers. The Consumer Financial Protection Bureau publishes plain-language guides to what servicers must do and how to respond.
If the account stays behind, the servicer may send a notice of default and, eventually, refer the loan to an attorney to file a foreclosure case in the county circuit court. The earlier stages are when an owner has the widest set of choices, and when the choices are easiest to compare calmly.
Some paths run entirely through the servicer, and nobody else can promise them:
A HUD-approved housing counselor can help you understand and apply for these at no cost. The federal counselor search finds agencies by location, and the counselor line is also in the notice at the bottom of this page. In Illinois, the state housing agency IHDA is another place to look for homeowner programs.
Selling is the option that does not depend on the servicer's approval, as long as the sale price covers what is owed. If you sell, the title company requests a payoff statement and pays the loan in full from the proceeds at closing, and anything left is yours.
Whether to sell to a private buyer or list with an agent depends mostly on the condition of the house and how much time you want to give it. A house that shows well may net more on the market. One that needs work, has tenants, or that you simply want settled quickly is where an as-is offer is worth comparing. Our pricing explainer shows how to set the two side by side.
Mortgage trouble attracts scams: people who charge upfront fees for help, ask you to sign the deed over, or tell you to stop talking to your servicer. A legitimate buyer will explain its offer in writing, close through a title company, and never ask you to stop paying or stop contacting your lender. If anything about an offer, including ours, feels unclear, take it to an attorney or a housing counselor before you sign.
Comparable sales, minus itemized costs, next to what listing would likely net. See how we price a home →
No repairs, no fee, no obligation. See the number, then decide.