Do you have a Lagrange GA house that is in the process of foreclosure right now? Many people going through the GA 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. Once that home hits the court house steps, there is really not much that can be done.
Can I Sell My House in Foreclosure in Lagrange? – How it works
There are a lot of folks in Lagrange 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. With covid, banks delayed lots & lots of foreclosures, for years at this point. But at this point, nearly all the moratoriums are up, and there just isn’t a way to avoid it much longer once you get behind on your payments.
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). Call with updates and show them what you’re doing to get your property sold or what you’re doing to catchup your payments. Usually once the foreclosure process starts, unless you get all the way caught up, the banks are pretty unlikely to work with you.
- Don’t miss deadlines. If anything will be late, call with advance notice.
- 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. Again, they don’t want to auction off the house. They would rather you get caught up, or to sell to someone who can wipe the note off of their books.
- 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.
- 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. You can also consider selling subject to the existing mortgage. This is essentially where an investor will come in and take over & catch up your mortgage note. It’s also a pretty good option.
- 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 Lagrange house in foreclosure fast, call us now.
We specialize in helping homeowners in situations including foreclosure around Lagrange and the whole state of GA 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 Lagrange, we can help you.
We buy properties like yours from people who need to sell fast.