Can I Sell My House That Is In Foreclosure?

Can I Sell My House That Is In Foreclosure

Do you have a house that’s in foreclosure right now? Many people going through the IL foreclosure process want to get out from under that situation and wonder if they can sell the house in foreclosure. The short answer: yes. The long answer: it’s a little more complicated, but usually you can sell your property prior to foreclosure. Generally, the sooner you start, the better.

Can I Sell My House that is in Foreclosure? – How it works

There are a lot of folks who have faced foreclosure in the past few years. Since the changes in the economy, a lot of banks have changed 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. Over many years of working with banks to help stop the foreclosure process, we’ve learned a few tricks that can help you.

Working With Banks During The Foreclosure Process

  1. 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.
  2. Don’t miss deadlines. If anything will be late, call with advance notice.
  3. Remember that bankers are people too. Don’t be overly dramatic, but explaining your situation and demonstrating your willingness to fix the problems goes a long way.
  4. 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.
  5. Explore all your options, including a 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.
  6. Don’t wait. Unfortunately, time is not on your side. The further behind you become on payments, the fewer options are available to you.

Whether you’re looking to sell your house in foreclosure fastcash home buyers in Aurora, St. Charles, Elgin, Geneva, or anywhere in Kane County, contact us now.

We specialize in helping homeowners in situations including foreclosure around the whole state of IL get out of difficult situations and avoid foreclosure. In certain circumstances, we can negotiate directly with the bank to reduce the amount you owe and (sometimes) even help you walk away with cash in your pocket.

If you need to sell an unwanted property, we can help you.

We buy houses in Aurora, St. Charles, Elgin, Geneva, and everywhere else in Kane County from people who need to sell fast.

Give us a call at (773) 676-2355 anytime
or fill out the form over here today! >>

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