Do you have a Dallas / Fort Worth 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 are wondering “can I sell my house in foreclosure in Dallas / Fort Worth? The short answer: yes. The long answer: well, it’s a little more complicated than a yes or no answer, but usually you can sell your property prior to foreclosure. Generally, the sooner you start the whole process, the better.
Can I Sell My House in Foreclosure in Dallas / Fort Worth? – How it works
There are a lot of folks in Dallas / Fort Worth who have faced foreclosure over the past few years. Since there have been major 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. Abandoned properties carry too much risk for the bank and auctioning a house carries its own set of troubles for them as well. The bank stands to make the most amount of money by helping you avoid foreclosure by selling your property. However, to be truthful with you, 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 can help you. So if this is you saying, “Can I sell my house in foreclosure in Dallas / Fort Worth“, then here’s a few things you need to know about working with the bank!
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 work on your debt and get your property sold. They’ll appreciate communication since many people who owe back mortgage payments are in hiding and nowhere to be found, well at least that’s how it can seem to the bank.
- Don’t miss deadlines. If any payments are going to be late, call and give the bank a heads up before you miss the deadline if at all possible. But if you’re in the position to stay on top of things and not miss any deadlines, then don’t miss any if you can help it.
- Remember that bankers are people too. Don’t be overly dramatic, but explaining your situation and demonstrating your willingness to fix the problems in order to make things right can go a long way.
- Start keeping careful records of every conversation you have with the bank. Nothing counts unless it’s in writing. Make sure to keep track of each person you speak with, what they said, the date and time you spoke with them, and any promises made.
- Explore all your options, including short sale, loan modifications, and bankruptcy. Depending on the details of your individual 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 fewer options you will have available to you. Time is definitely of the essence when it comes to foreclosures.
If you’re looking to sell your Dallas / Fort Worth house in foreclosure fast, call us now.
At Madison Lea Homes, we specialize in helping homeowners in situations including foreclosure around Dallas / Fort Worth and the whole state of TX get out of difficult situations and avoid foreclosures. 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 Dallas / Fort Worth, we can help you.
We buy properties like yours from people who need to sell fast.