Do you have a Southern California house that’s in foreclosure right now? Many people going through the foreclosure process want to get out from under that burdensome house 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 in Foreclosure in Southern California ? – How it works
There are a lot of folks in Southern California who have faced foreclosure in the past few years. Since the changes in the economy, a lot of 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. Over many years of working with banks to help stop the foreclosure process, we’ve learned a few tricks that will help you.
Working With Banks During The Foreclosure Process
- Always Over-communicate with the Bank (but Don’t Be Annoying): Maintain regular contact with the bank. Call with updates, explain your actions to get your property sold, and show them you’re actively working on a resolution. This builds trust and keeps them informed.
- Don’t Miss Deadlines: Ensure you meet all deadlines set by the bank. If you foresee any delays, call with advance notice to explain the situation and provide a new timeline. This demonstrates your responsibility and commitment to resolving the issue.
- Remember that Bankers are People Too: Approach bankers with empathy and understanding. Don’t be overly dramatic, but clearly explain your situation, the steps you’re taking to fix the problem, and your willingness to make things right. Personal connections can sometimes lead to more favorable outcomes.
- Start Keeping Careful Records: Document every conversation with the bank. Nothing counts unless it is in writing. Keep track of each person you speak with, what was said, and any promises made. This ensures accountability and helps avoid misunderstandings.
- Explore All Your Options: Look into all possible solutions, including short sales, loan modifications, and bankruptcy. Depending on your personal situation, these options may significantly slow down the foreclosure process. Each bank has unique policies to assist borrowers in avoiding foreclosure.
- Don’t Wait: Act quickly. Unfortunately, time is not on your side. The further behind you fall on payments, the fewer options are available to you. Early action can provide more opportunities to find a solution and potentially save your home.
- Don’t wait. Unfortunately, time is not on your side. The further behind you become on payments, the fewer options are available to you.
- Stay Organized and Proactive: Keep all your financial documents in order, including pay stubs, tax returns, and bank statements. These will be essential if you need to apply for a loan modification or other assistance programs. Being organized and having all necessary documentation ready can make the process smoother and demonstrate your commitment to resolving the issue.
If you’re looking to sell your Southern California house in foreclosure fast, call us now.
We specialize in helping homeowners in situations including foreclosure around Southern California and the whole state of 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 from your property with cash.
If you need to sell a property near Southern California , we can help you.
We buy properties like yours from people who need to sell fast.