You’ve defaulted on your mortgage loan and you’ve been informed about the possibility of your property getting foreclosed.
If that’s the case, it’s expected that you feel hopeless, disappointed, and heart-broken.
But not all is lost yet.
Buying “hard-to-sell” houses as-is, for cash, with zero realtor commissions and no time wasted is what our team does best. We view this as more than a transaction, though; it’s a way to help our clients out of the rough financial position they’re in right now.
Here’s what to keep in mind about selling your home before the lender forecloses – and what we can do to help!
How Does Foreclosure Work?
Foreclosure isn’t something that happens overnight – the process typically includes five stages. It can take months before your mortgage lender begins the pre-foreclosure stage – and takes even longer for the home to be put up for auction.
Here’s a quick overview of the five stages in a foreclosure process:
Stage 1: Missed Payments
Regardless of the reasons for going into foreclosure, and whether the process is judicial or non-judicial, it always starts with missed payments.
Stage 2: Public Notice
Although this depends on the state, your lender will begin the foreclosure proceedings once you’re three to six months behind on the mortgage. You will receive a public foreclosure notice, known as the Notice of Default, regarding your mortgage balance and the payments you’ve missed.
Stage 3: Pre-Foreclosure
At this point, your home is in the early stages of repossession. You’re behind on your payments, but the lender hasn’t yet foreclosed on your home. You will typically have 90 days to take action and sell the property.
Stage 4: Foreclosure Auction
If you’re unable to prevent foreclosure, your property will be put up for auction, with the minimum bid set at what you owe and sold to the highest bidder.
Stage 5: Post-Foreclosure
Whether the home is sold at an auction or the ownership goes to the lender, you’re facing eviction. At this stage, your only remaining option is to find a new place to live.
If experience has taught us anything, it’s that you shouldn’t ignore the problem and wait until the last minute to take action. You might’ve received the dreaded notice already, but there’s still plenty that can be done to prevent further stress and anxiety.
The key is to be proactive.
Can I Sell My House If It's In Pre-Foreclosure?
As a homeowner who’s defaulted on their loan and has received their first notice of foreclosure from the mortgage lender, you’re likely wondering:
Can I sell my home in pre-foreclosure?
And we’re glad to say that, yes, you absolutely can.
You can sell the house at any point during the process until the foreclosure proceedings are finalized – meaning the bank takes possession of it – and started selling it at an auction.
At this stage, you’re more than 90 days behind on your mortgage payment, and the bank has put the foreclosure process in motion – but you’re still the legal owner of the property. Know your rights!
Selling the house while you’re in pre-foreclosure is generally the best time to do it:
You can use the money to settle your debt with the bank and avoid any severe damage to your credit – but you have to act fast.
Can I Sell My Home If I'm Behind On My Mortgage Payments?
Another common question we get from homeowners who are late on their mortgage payments and don’t see a way to recover, other than selling the property, is:
Can I sell my house if I’m behind on mortgage payments?
Again, yes, this is an option – so long as the mortgage company hasn’t foreclosed on your home yet. Until the foreclosure takes place and your house is to be sold at auction, you can – and, in most cases, should – sell your home.
However, you must understand what this means and how much you can expect to get out of the sale. That mostly depends on the property’s market value and the amount of money you owe.
Whatever you owe the mortgage company – including payments, fees, and applicable penalties – won’t vanish when you decide to sell your home.
You’re still held responsible for the payments you’ve missed.
If the fair market value of your property is greater than what you owe to the mortgage company, meaning you aren’t underwater yet, you’ll be in a much better position. You can sell your home and use the profits from the sale to pay back your lender.
If not, selling your house as a short sale – and, in some instances, arranging a rent-back – can be another way to prevent foreclosure. We can offer you an alternative way out of this sticky financial situation, though!
Can I Sell My House If It's In Pre-Foreclosure?
As a homeowner who’s defaulted on their loan and has received their first notice of foreclosure from the mortgage lender, you’re likely wondering:
Can I sell my home in pre-foreclosure?
And we’re glad to say that, yes, you absolutely can.
You can sell the house at any point during the process until the foreclosure proceedings are finalized – meaning the bank takes possession of it – and started selling it at an auction.
At this stage, you’re more than 90 days behind on your mortgage payment, and the bank has put the foreclosure process in motion – but you’re still the legal owner of the property. Know your rights!
Selling the house while you’re in pre-foreclosure is generally the best time to do it:
You can use the money to settle your debt with the bank and avoid any severe damage to your credit – but you have to act fast.
Can I Sell My Home If I'm Behind On My Mortgage Payments?
Another common question we get from homeowners who are late on their mortgage payments and don’t see a way to recover, other than selling the property, is:
Can I sell my house if I’m behind on mortgage payments?
Again, yes, this is an option – so long as the mortgage company hasn’t foreclosed on your home yet. Until the foreclosure takes place and your house is to be sold at auction, you can – and, in most cases, should – sell your home.
However, you must understand what this means and how much you can expect to get out of the sale. That mostly depends on the property’s market value and the amount of money you owe.
Whatever you owe the mortgage company – including payments, fees, and applicable penalties – won’t vanish when you decide to sell your home.
You’re still held responsible for the payments you’ve missed.
If the fair market value of your property is greater than what you owe to the mortgage company, meaning you aren’t underwater yet, you’ll be in a much better position. You can sell your home and use the profits from the sale to pay back your lender.
If not, selling your house as a short sale – and, in some instances, arranging a rent-back – can be another way to prevent foreclosure. We can offer you an alternative way out of this sticky financial situation, though!
Can I Sell My House If It's In Pre-Foreclosure?
As a homeowner who’s defaulted on their loan and has received their first notice of foreclosure from the mortgage lender, you’re likely wondering:
Can I sell my home in pre-foreclosure?
And we’re glad to say that, yes, you absolutely can.
You can sell the house at any point during the process until the foreclosure proceedings are finalized – meaning the bank takes possession of it – and started selling it at an auction.
At this stage, you’re more than 90 days behind on your mortgage payment, and the bank has put the foreclosure process in motion – but you’re still the legal owner of the property. Know your rights!
Selling the house while you’re in pre-foreclosure is generally the best time to do it:
You can use the money to settle your debt with the bank and avoid any severe damage to your credit – but you have to act fast.
Can I Sell My Home If I'm Behind On My Mortgage Payments?
Another common question we get from homeowners who are late on their mortgage payments and don’t see a way to recover, other than selling the property, is:
Can I sell my house if I’m behind on mortgage payments?
Again, yes, this is an option – so long as the mortgage company hasn’t foreclosed on your home yet. Until the foreclosure takes place and your house is to be sold at auction, you can – and, in most cases, should – sell your home.
However, you must understand what this means and how much you can expect to get out of the sale. That mostly depends on the property’s market value and the amount of money you owe.
Whatever you owe the mortgage company – including payments, fees, and applicable penalties – won’t vanish when you decide to sell your home.
You’re still held responsible for the payments you’ve missed.
If the fair market value of your property is greater than what you owe to the mortgage company, meaning you aren’t underwater yet, you’ll be in a much better position. You can sell your home and use the profits from the sale to pay back your lender.
If not, selling your house as a short sale – and, in some instances, arranging a rent-back – can be another way to prevent foreclosure. We can offer you an alternative way out of this sticky financial situation, though!
Avoid Foreclosure. Sell Your House As-Is For Cash.
No obligation. No pressure. No fees, commissions, or closing costs.
Sell Your House Before Foreclosure and Move On
Selling a home that’s facing foreclosure isn’t that much different than a traditional home sale – but it does follow a different set of rules. As most homeowners who find themselves in this situation know very well, time is of the essence.
When you’re headed into foreclosure, you have no time to waste. You’re up against the ticking clock – and that means you don’t have the time to deal with real estate agents, prep the house for sale, or deal with potential buyers and paperwork.
You have to list your house, find buyers, and close as soon as possible, which, depending on the current market, won’t always be an option – let alone a fast one.
That’s where we come in:
Our team specializes in buying “hard-to-sell” houses for cash, and we’re ready to go above and beyond to make sure you sell your home quickly and easily.
Here’s how we can help you sell your property fast as-is to avoid foreclosure and move on from this real estate headache:
A Quick & Hassle-Free House Sale
With debt piling up and the foreclosure date hanging above your head, you need to sell your house sooner rather than later.
But have you thought about everything that selling a home entails?
You have to find a real estate agent, prep your house, “compete” with other real estate listings, homes for sale, and buyers, handle the paperwork and negotiate with the lender. It’s a lot for a home seller to handle at once, even under normal circumstances.
What’s more, the ticking clock of foreclosure often means that you have to leave money on the table and walk away from your home drained – both financially and emotionally.
So, why not let us deal with all the details?
We’ll not only buy your house for cash but take care of the complete transaction as well, supporting you every step of the way.
We Buy Your Property As-Is – No Repairs Needed
The real estate agent you’re working with may view your house as a “fixer-upper,” affecting the sale, home value, and the time it spends on the market.
But we won’t.
We’re ready to buy your home as-is, regardless of the condition of your property. We won’t ask you to put a single dime into renovations, repairs, and home staging. We won’t even ask you to clean it.
We understand that you’re under a lot of pressure right now – financial and otherwise – and probably can’t afford the money or time to do any work on your home.
And we don’t want to add more to your plate.
We’re an Alternative to Traditional & Short Sales
If the property’s worth less than the total mortgage debt – meaning you have negative equity – a short sale might seem like the only way out of this financial mess.
But while it might not have as bad of an impact on the homeowner’s credit score, a short sale tends to be a mixed bag for everyone involved, too:
The bank has to agree on accepting less than you owe, “forgiving” the remaining balance of the loan, meaning the lender loses money in the process. And you’ll be forced to walk away from your home without getting a single penny from the sale.
That’s why working with a company that purchases homes fast and for cash is your best bet.
No Middleman, So No Commissions or Fees
Finding a qualified real estate agent who understands the urgency and has experience working with homeowners facing foreclosure can be challenging.
You should avoid working with a realtor at this stage because:
- There’s no guarantee that they will find a suitable buyer within the given timeframe – especially if there’s some market uncertainty in your area.
- Commissions, fees, and closing costs can take a considerable chunk out of the sale. That can be a problem if your home sells for less than what you owe to the lender, be it banks or mortgage companies.
It’s easy to see why traditional home sale methods should generally be avoided when you know you’re going into foreclosure.
So, why not go straight to us and cut out the middleman?
A Simple Home Selling Process
All you should do is dial our phone number and say something along the lines of “I’m hoping to sell my home before foreclosure” – and let us handle the rest.
We can sum it up in four simple, hassle-free steps:
- You call us and discuss the details about the house, including the address and current state of the property, with our team
- We make a cash offer based on house comps in your area and the assessment of your property – no obligations and no pressure
- We close on the house within days – whenever works for you – and take care of the sale details on your behalf at no extra cost
- You receive the full payment from the sale, as agreed upon in the purchase contract, in cash, without having to pay any fees or commissions
If You're Facing Foreclosure, We Can Help
We understand that if you’re a homeowner facing foreclosure, you’re going through a very difficult time – and we’d like to help you speed up the home sale process and avoid going through foreclosure.
We’ll work with you to provide customized services based on your particular situation, improving your home selling experience, and helping you avoid the devastating effects of foreclosure. We can offer you a fast and easy solution to selling your house – for cash and in as-is condition.
Give us a call today at (504) 356-8000 and see how we can help you sell your house before foreclosure and move on from this difficult situation.
Get a Fair, No-Obligation Cash Offer for Your Home
If You're Facing Foreclosure, We Can Help
We understand that if you’re a homeowner facing foreclosure, you’re going through a very difficult time – and we’d like to help you speed up the home sale process and avoid going through foreclosure.
We’ll work with you to provide customized services based on your particular situation, improving your home selling experience, and helping you avoid the devastating effects of foreclosure. We can offer you a fast and easy solution to selling your house – for cash and in as-is condition.
Give us a call today at (504) 356-8000 and see how we can help you sell your house before foreclosure and move on from this difficult situation.