Do you have a San Antonio Texas house that’s in foreclosure right now? Many people going through the San Antonio 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 San Antonio House In Foreclosure – How it works
There are a lot of folks in San Antonio 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
- 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.
- 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.
- 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.
- Don’t wait. Unfortunately, time is not on your side. The further behind you become on payments, the less options are available to you.
- Unfortunately, It is not uncommon to be denied by the bank. We highly suggest you get a cash offer from a cash buyer as a back up plan. That way if your attempts to keep your home don’t work out, you can still avoid the foreclosure and walk away with some cash in your pocket to move on.
We specialize in helping homeowners in situations including foreclosure around San Antonio and the whole state of Texas 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 sell to a cash buyer and walk away from your property with cash.
If you need to sell a property near San Antonio, we can help you.
Our friends at Alamo Custom Home Solutions buy properties like yours from people who need to sell fast.