Can I Sell My House In Foreclosure

Dated: June 12 2017

Views: 195

Can I sell my Austin house in foreclosure?

By 

Do you have an Austin TX house that’s in foreclosure right now? Many people going through the TX 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.

Selling Your Austin House In Foreclosure – How it works

There are a lot of folks in Austin 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

  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 to make it right 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 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.

If you’re looking to sell your Austin house in foreclosure fast, call us now.

We specialize in helping homeowners in situations including foreclosure around Austin and the whole state of TX 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 Austin, we can help you.

We buy properties like yours from people who need to sell fast.

Blog author image

Carlos Garcia

A native Austinite, Carlos grew up in South Austin and wouldn’t dream of living anywhere else. He is admittedly biased to the South Austin lifestyle, though he loves helping friends in all areas of ....

Latest Blog Posts

A Return To Normal The State Of Real Estate In 2022

Last year was one for the real estate history books. The pandemic helped usher in a buying frenzy that caused home prices to soar nationwide by a record 19.9% between August 2020 and August 2021

Read More

20 Unique Home Gifts For Every Person On Your List

Every year, it seems the holidays sneak up on us—and every year, that brings with it the dreaded-last minute gift panic. Finding a present that hits all the right notes can be surprisingly

Read More

South Padre Island Yummies Bistro

Yummies - South Padre IslandMy brother is a great guy and anytime I have a chance to spend some time with him, I embrace it. I wrote this  blog a couple of years ago, but I went again! This

Read More

New Build Or Existing Home Which One Is Right For You

Homebuyers today are facing a huge dilemma. There simply aren’t enough homes for sale.1Nationwide, there were 1.27 million active listings in September, down 13% from the previous year. According

Read More