Can I Sell My House in Foreclosure
It Is Complicated, But You Can Sell Your Denver House Even While In Foreclosure.
If you have a Denver, CO house that is currently in foreclosure, you can still sell it and stop the foreclosure process. Being under the burden of a house in foreclosure isn’t something any homeowner ever expects. Nor do they not want to find themselves in that position. But good things happen to good people every day.
So, can you sell your house once foreclosure proceedings begin? The short answer to this is yes. The long-detailed answer is still yes, but it won’t be easy or quick. And to that end, Property Scouts will tell you that the sooner you get it sold, the better.
How Will It Work If I Choose TO Sell My Denver House After The Foreclosure Process Has Started?
Over the last few years, there have been many Denver, Colorado homeowners found themselves facing foreclosure. Partly because banks and lenders have had to change their ways, they handle foreclosure with the economy changes. What many homeowners that find themselves in foreclosure forget is that banks and lenders do not want to see any homeowner in this position. They aren’t making money by way of foreclosing on properties – they are losing money on a foreclosure.
If your bank or lender can help you avoid foreclosure, they would prefer to do that. However, while they will come out with more money, for you, it is often putting off the inevitable, not to mention, the hassle and stress of it all. Property Scouts has worked with many banks over the years in helping homeowner’s stop a foreclosure, and we have picked up a few tricks that we feel can help you.
How You Can Work With Your Bank During The Process
- Communicate, communicate, communicate! We can’t stress it enough that communication with your bank is essential. Communicate to the point of annoying by calling them with all updates and share with them everything you’re doing to sell the property.
- Meet every deadline on time, early is even better. If you’ll be late with anything they have requested, let them know ahead of time.
- Remember they are human too. Being over-dramatic isn’t necessary, but you need to explain your situation and let them know that you are able and willing to fix the problem. This can go a long way with a bank.
- Keep accurate records of any conversation with the bank. Make handwritten notes of who you spoke with, the day and time you spoke with them, and the context of the conversation, including any promises either party makes.
- Explore all options available to you. This includes loan modification, a short sale, and bankruptcy. Depending on your personal situation and the details involved, foreclosure proceedings can be slowed down dramatically if you put enough of the right effort out there. Every bank will have their own policies that are there to help a borrower avoid foreclosure. Remember, they don’t make money if they must foreclose on your loan.
- Do not take your time! If your home is in foreclosure, time is not yours to take. The more payments you get behind on, the fewer options that are going to be available for you. The sooner you act, the better the outcome will be for you.
Let Us Help You!
If you are looking at selling your Denver, CO house fast, give us a call today! Property Scouts specializes in helping homeowners in all types of situations, including foreclosure in and around the Denver area. We have been able to help homeowners even avoid foreclosure, sometimes by directly negotiating with the bank on your behalf to reduce your balance. We have even helped homeowners faced with foreclosure walk away with cash!
If you need to sell your Denver, CO property, Property Scouts can help. We buy properties in danger of being foreclosed so that homeowners can make a fast sale and avoid the stigma and stress that comes with a foreclosure.