Do you own a house in Raleigh NC that’s currently in foreclosure? Many homeowners in Raleigh are asking the question, “Can I sell my house in foreclosure?” First, because they are already in the foreclosure process and, second, they are searching for a way to get out from under a burdensome house. The short answer is yes. The long answer is: 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 Raleigh? – How it works
Unfortunately, bank foreclosures are just a part of life in our world. Many people in our country have faced the struggle of going through a foreclosure. This also includes my area of Raleigh. Throughout the years and market cycles, banks in the U.S. have made adjustments to the way they handle foreclosures.
With that said, please remember that the very bank that carries your mortgage doesn’t want to see your home abandoned or auctioned off. The bank understands very well that they will make the most money by helping you sell your property to avoid foreclosure. However, it can be such a pain dealing with a back during a foreclosure process. The purpose of this blog post is to pass on to you a few tricks we have learned over the years of working with banks to stop the foreclosure process. Here you go!
Working With Banks During The Foreclosure Process
- Always maintain communications with the bank on a regular basis (be careful to not be annoying). Call the bank periodically and provide updates to show them what you’re doing to get your property sold.
- Don’t ever miss deadlines. If you have to be late with anything, call them and let them know in advance.
- Remember that bankers are human too. Don’t be overly dramatic. Just explain your situation with a level-head and show that you’re willing to fix the problems to make it right. This goes a long way.
- Start keeping careful records of every conversation you have with the bank. Nothing that is verbally communicated matters. It has to be in writing. It is very important to keep track of each person you speak with, what they said, and any promises made.
- Explore all your options. Everything from a short sale, loan modification, and bankruptcy is on the table at this point. 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 until it’s too late. Unfortunately, time is not on your side. The further behind you get on payments, the fewer options you have at your disposal.
If you have a house in Raleigh that is in foreclosure and you need to sell it fast, contact us today.
We specialize in helping homeowners in difficult situations. If you’re facing a foreclosure around Raleigh and the whole state of NC, we can possibly 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 Raleigh, we can help you.
We buy properties like yours from people who need to sell fast.