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How Much Does It Cost to Rewire a House?

16 min read

How Much Does It Cost to Rewire a House?

Doctor Homes 22 May 2025

Let’s face it—modern life runs on electricity. Our gadgets, from smart thermostats to espresso machines, need safe, reliable power. But if your lights flicker, your breakers trip for no reason, or your wall outlets look straight out of the 1960s, your wiring might be crying for help. Upgrading your electrical system isn’t just about convenience. […]

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Falling behind on your mortgage is stressful—there's no sugarcoating that. Between the constant phone calls, the letters piling up, and the endless worry, it’s easy to feel completely overwhelmed. Maybe you missed a payment after a job layoff. Maybe an unexpected bill threw everything off. Here’s the bright side — you still have several paths you can take. If you’re wondering, "Can I sell my house after missing payments?" the answer is a confident yes — and often, it’s the smartest step you can take to safeguard your financial future. Whether you're facing job loss, a sudden life change, or mounting bills, selling your home before foreclosure kicks in could save your credit and give you the fresh start you need. Can You Sell a House Behind on Mortgage Payments? Falling behind on mortgage payments doesn’t mean you’ve lost the chance to sell your home. But time is of the essence. Once foreclosure proceedings begin, your options narrow, and the pressure intensifies. Selling before the bank takes legal action puts you back in control. By acting fast, you can use the sale to pay off the remaining mortgage balance, cover closing costs, and maybe even walk away with some equity. It’s a proactive way to stop the clock on foreclosure and move forward on your own terms. Thinking about selling now? Sell your house fast to Doctor Homes and avoid foreclosure headaches. Options to Avoid Foreclosure Before foreclosure becomes your only option, there are several alternatives that might help you stay in your home or exit the situation gracefully: Loan Modification: Your lender might adjust the terms of your loan to help make your monthly payments easier to handle. Lenders might adjust the loan by lengthening the repayment period, cutting the interest rate, or trimming the amount you owe. It's designed to make your monthly mortgage payment fit your current financial situation better. Mortgage Forbearance: This allows a temporary pause or reduction in payments during a hardship. You’ll need to resume full payments later and possibly catch up on paused amounts, but it buys time to get back on your feet. Make sure you fully grasp how and when you’ll need to repay before moving forward. Relief Programs: Federal and state programs may offer grants or deferred payment plans. Some of these programs can put foreclosure on pause, giving you some much-needed financial breathing space. Your eligibility usually hinges on details like your income, the nature of your hardship, and the type of loan you have. While these programs can offer short-term relief, selling the home — especially through a cash buyer like Doctor Homes — often provides a faster, cleaner resolution with fewer hoops to jump through. Short Sale vs Foreclosure: Which Is Better? Foreclosure is the legal process a lender uses to take back and sell your property when payments have stopped. A foreclosure can linger on your credit history for as long as seven years, making it much harder to qualify for another home loan. Short Sale, on the other hand, is when your lender agrees to let you sell the house for less than what you owe. It does involve paperwork and approvals, but it allows you more control and generally has a smaller impact on your credit score. When comparing the two: Credit Score Impact: Short sales usually damage your credit less than foreclosure. A short sale usually leads to a credit score drop of about 100 to 150 points, while foreclosure tends to hit harder — sometimes knocking off 200 points or more. Control: Short sales allow you to negotiate and participate in the sale. You have a say in accepting offers and setting timelines, which can make the process feel less overwhelming. Timeline: Foreclosures can happen fast and leave you scrambling. Banks often move quickly once payments are missed, leaving homeowners little time to plan or negotiate better outcomes. If you can't sell your home at full market value, a short sale could be the better option—especially compared to foreclosure's long-term financial damage. How to Do a Short Sale Successfully If a short sale sounds like the way to go, here’s how to approach it: Contact Your Lender: Explain your hardship and request a short sale package. Prepare Your Paperwork: You’ll need to collect and submit documents like a hardship letter, your latest pay stubs, tax returns, and bank statements. Hire an Experienced Agent: Choose someone who knows how to handle short sales and lender negotiations. Review Offers: Once you get an offer, submit it to your lender for approval. Close the Sale: With approval, finalize the deal and avoid foreclosure. To speed up the process: Be honest and thorough with your documentation. Accurate and complete paperwork prevents delays and shows your lender you’re serious about resolving the situation. Leaving out important details could result in denied approvals or extended timelines. Stay in contact with your lender. Prompt responses to lender requests help move your application through faster. Staying in regular contact can build trust with your lender, making them more likely to sign off on a short sale. Price the property competitively to attract buyers quickly. Homes that are priced right generate more offers, giving you better chances of getting lender approval. Overpricing can cause your home to sit too long, risking foreclosure while you wait. Facing too many hurdles for a short sale? Reach out to Doctor Homes for a free cash offer and avoid the usual headaches of selling. Selling as-is, no agent or lender approval required. What Is a Deed in Lieu of Foreclosure? To steer clear of foreclosure, some homeowners choose to sign their property back over to the lender voluntarily. It’s not as common as a short sale but can be useful in certain situations. Pros: Stops the foreclosure process. By signing over the deed, you immediately end any foreclosure proceedings and potential legal battles. May offer relocation assistance. Some lenders provide cash incentives to help homeowners cover moving costs or secure new housing after completing the deed in lieu. Less damaging to your credit than foreclosure. Although your credit will be affected, a deed in lieu is often seen as a more acceptable outcome than a full foreclosure when applying for future loans. Cons: Still negatively impacts your credit. Even without a foreclosure on record, your credit score may still reflect serious delinquency for several years. You give up all rights to the home. Once the deed is signed over, you lose any claim to future proceeds or ownership interests. Many lenders expect you to attempt a short sale before exploring other solutions. Because lenders often prefer a short sale's potential financial recovery, you might have to document that the selling wasn't successful before qualifying for a deed in lieu. If you’re out of other options and want to avoid the stress of foreclosure court, a deed in lieu can provide closure—just not cash. How Missed Payments Affect Credit Score Mortgage delinquencies are reported to credit bureaus in stages: 30 Days Late: Minor ding to your credit. 60 Days: Bigger drop, harder to catch up. 90+ Days: Serious damage, foreclosure warning. 120+ Days: Your credit is deeply affected, and legal action may begin. Every late mortgage payment chips away at your credit score and makes future borrowing harder. By selling the house early—especially to a cash buyer like Doctor Homes—you can stop the bleeding and start rebuilding. Mortgage Relief Options for Homeowners There are several programs available for struggling homeowners: Federal Options: FHA, VA, and USDA loan holders may qualify for specific relief. State Programs: Many states offer foreclosure prevention grants. Lender Assistance: Some banks offer internal hardship programs. These options can delay foreclosure or reduce what you owe, but they require paperwork, time, and sometimes approval hurdles. Even if you apply for mortgage relief programs, selling your home could still become necessary if financial hardship continues. Before surrendering to foreclosure, discover if selling to Doctor Homes could be your ideal mortgage relief solution. Final Thoughts: Moving Forward After Falling Behind If you’ve been wondering, "Is it possible to sell my home after falling behind on payments?" Consider this your reminder: you’re not out of options. You can still sell your home — and you won’t have to do it on your own. From short sales to deeds in lieu and mortgage relief to fast cash offers, you have multiple lifelines available. Companies like Doctor Homes have helped over 1,500 homeowners just like you walk away from financial stress without paying a dime in realtor fees, repairs, or commissions. Don't let missed payments define your financial future. Contact Doctor Homes today for a fast, fair, and stress-free solution to selling your home. FAQs Is it possible to sell your home after falling behind on mortgage payments? You can still sell your home, even if you’ve missed a few mortgage payments. Selling could even spare you from foreclosure and soften the blow to your credit. What are the best options to avoid foreclosure? You might consider choices like modifying your loan, requesting forbearance, pursuing a short sale, turning over the deed, or selling directly to a cash buyer. How does a short sale work if I’m behind on payments? In a short sale, the lender agrees to let you sell the property for less than the remaining mortgage balance. The lender might agree to cancel the remaining balance, helping you sidestep foreclosure. Will selling my house late hurt my credit score? Selling late is better than going through foreclosure. The earlier you sell, the less impact it will have on your credit. How are a short sale and a deed in lieu of foreclosure different? A short sale involves selling to a third party, often with some control and cash left over. A deed in lieu allows you to give the property back to your lender directly, without going through a sale or collecting payment.

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