Do you currently own a Texas house that’s in foreclosure? Many people who are navigating the Texas foreclosure process want to free themselves from the burdens of that house and wonder if they are able to sell the house in foreclosure. The short answer: yes. The long answer: it’s complicated, but you can get help. The sooner you start, the better.
If you’re feeling the weight of a foreclosure on your home, we have good news: it’s possible to sell before going into full-blown foreclosure. However, doing so requires an expedient start since time can be of the essence – meaning that people who act quickly can maximize their chances for success.
Selling Your Texas House In Foreclosure – How it works
The economic landscape in Texas has been drastically shifting, leading many homeowners to an unfortunate predicament – foreclosure. Banks don’t want to take on the hassle of managing a home auction or letting it sit vacant; they’d much rather see you successfully sell your property and avoid foreclosure. Though dealing with banks during this time may feel daunting at times, there are tips and tricks that have come from working through countless cases over the years which can enable smoother sailing towards successful resolution of these troubling affairs.
Working With Banks During The Foreclosure Process
- Always over-communicate with the bank. Call with updates and show them what actions you’re taking to get your property sold, but don’t be bothersome.
- Don’t miss deadlines. Call with advance notice if anything will be late.
- Remember that bankers are people too. Explaining your situation and demonstrating your willingness to fix problems goes a long way, but don’t be overly dramatic.
- Start keeping careful records of every conversation you have with the bank. Nothing counts unless it is in writing. Keep track of every person you speak with, what they said, and any promises that were made.
- Explore all your options including short sale, loan modifications, and bankruptcy. With enough effort, depending on your personal situation, you might be able to drastically slow down the foreclosure process. Each bank has its own policies to help borrowers avoid foreclosure.
- Don’t wait. Unfortunately, time is not on your side. Less options will be available to you the further behind you become on payments.
We specialize in helping homeowners get out of difficult situations and avoid foreclosure around the whole state of Texas. In some cases, 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 Texas, we can help you.
We buy properties like yours from people who need to sell fast.