Can I Sell My Foreclosed Home?

iwillbuyhouse • January 24, 2022

Can I Sell My Foreclosed Home?

sell your home in forclosure

Facing foreclosure is a tough moment for house owners. Feelings of impotence and disappointment abound, but at this moment, your worst enemy is denial. It turns out that even though many things can lead to a foreclosure, like a divorce or medical bills, denial is an aggravator that brings on this process much faster.

Is Selling an Option?

 

Yes, pre-foreclosure is your best time to sell. This is because time is of the essence in this case, and you can proceed in a more calm way during this time.  According to Redy, selling during pre-foreclosure can save your credit and provide funds to pay off any outstanding mortgage debt.

 

Pre-foreclosure

 

This phase begins when you first miss a mortgage payment. After three months of the missed payment, you will receive a Demand or Notice to Accelerate Letter. This letter informs you of the amount you owe and gives a 30-day notice for you to balance your fees. The Consumer Financial Protection Bureau offers guidance on understanding foreclosure processes, including pre-foreclosure timelines.

 

Foreclosure

 

If you fail to do so and take no further action, your house enters foreclosure. This period lasts around 2 to 3 months, during which the sale of your property is scheduled. The U.S. Department of Housing and Urban Development provides resources for homeowners facing foreclosure, including counseling services and potential alternatives.

 

Can I Sell Before a Foreclosure Notice?

Yes, pre-foreclosure is your best time to sell. This is because time is of the essence in this case, and you can proceed in a more calm way during this time.

Can I Sell My Foreclosed Property?

Also, yes, but be aware of time. Foreclosure may last two or three months. If you wait up until the last month of foreclosure, it may be too late to carry out the selling process. This may represent even more losses due to the fees of selling a house or real estate.

Who Can Help?

 

A House Buying company is your best option in this case. House Buying Companies charge fewer fees, handle cash and work fast. So if you are wondering if you can “sell my house fast” or for a cash home buyer, contact a House Buying Company.

 

Any House Buyers in California?

Your answer is I Will Buy House. We are a house buying company started when our founders saw the damage the economic recession of 2008 did to property owners. Our goal is to help you make the most out of your situation. We buy houses in Los Angeles, helping you obtain the right amount of money for its value. 

Get in touch with us today and see how we can help you.

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