Do you have a house that’s in foreclosure right now? Many people are going through the foreclosure process and want to get out from the burden. Asking the question, if you can sell a house on foreclosure? The short answer: yes. The long answer: it’s a little more complicated.
How it works
There are a lot of people who have faced foreclosure in the past few years. Banks have been shifting the way that they deal with foreclosures. Remember, the bank that carries your mortgage doesn’t want to see your home abandoned or auctioned. The bank stands to make the most amount of money by helping you to avoid foreclosure by selling your property. However, dealing with banks during any part of the foreclosure process can be a huge pain.
Working With Banks During The Foreclosure Process
- Always over-communicate with the bank (but don’t be annoying). Call with updates and show them what you’re doing to get your property sold.
- Don’t miss deadlines. If anything will be late, call with advance notice.
- Remember that bankers are people too. Don’t be overly dramatic, but explaining your situation and demonstrating your willingness to fix the problems to make it right goes a long way.
- Start keeping careful records of every conversation you have with the bank. Nothing counts unless it is in writing. Make sure to keep track of each person you speak with, what they said, and any promises made.
- Explore all your options, including short sale, loan modifications, and bankruptcy. Depending on the details of your personal situation, you may be able to dramatically slow down the foreclosure process with enough effort. Each bank has its own policies to help borrowers avoid foreclosure.
- Don’t wait. Unfortunately, time is not on your side. The further behind you become on payments, the fewer options are available to you.
If you’re looking to sell your Belton house in foreclosure fast, call us now!
We specialize in helping homeowners in situations including foreclosure around Belton and the surrounding areas, to get out of difficult situations and avoid foreclosure.
We buy properties like yours from people who need to sell fast.