One of the most dreaded events for a homeowner is finding out that their home is in foreclosure. It can be devastating for someone who does not have money to live on, let alone pay back thousands of dollars they owe.
However, there may still be hope for you if your house is currently in foreclosure. See how you can sell your house fast for cash (even when it’s in foreclosure) and receive fair money for your property.
Mortgage companies often commence foreclosure three to six months after your first missed mortgage payment. However, foreclosure rules, methods, and timetables vary by state and mortgage company.
After three missed payments, you’ll likely receive a Demand or Notice to Accelerate letter reminding you of how much you owe and giving you 30 days to pay. If you don’t take action to settle with the mortgage company, it might take two to three months for your house to be scheduled for sale.
Keep in mind that, as a result of the coronavirus pandemic, the government has provided additional mortgage relief alternatives, including forbearance programs, through the CARES Act, giving more flexibility with dates and mortgage payments.
Before you can do anything to sell your house, it’s important that you first identify the foreclosure status of your home. Is it just six months behind on payments? Or has it been foreclosed by your bank already?
Remember that selling a house that is currently in foreclosure can be challenging because most lenders would not want to take the risk. However, there are still solutions, and there is always a buyer who wants to buy your property.
The best time to sell is during the pre-foreclosure phase. When there are still months before the bank begins foreclosure proceedings, you have time to sell it for the highest potential price.
Keep in mind that you won’t have time to prepare the house if you list too late in the foreclosure process, and you’ll have to sell it for less than market value just to beat the foreclosure clock.
However, even if your mortgage company has started the foreclosure process, you can still sell your house before the auction date. Selling your home quickly may be the best option if you’re suffering long-term financial difficulties rather than a temporary loss of income.
In the unfortunate case of your home being foreclosed, Travis Buys Homes can buy it from you fast. Your house will be free from any previous debts, and you won’t have to wait around until a buyer agrees to give you a sale offer.
Also, remember that the earlier you contact us about selling your home, the higher chance we have of helping you get cash for it fast, which means you can save yourself some stress by avoiding the long process of sale negotiations.
We work fast, so don’t waste time by yourself with an uncertain future – contact us now, and sell your house quickly. We love to help people and we’re ready to help you. We’ve been buying houses in Charlotte and surrounding areas since 1999.
Travis Buys Homes
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