Do you have a Florida house that’s in foreclosure process right now? Many people going through the 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.
Can I Sell My House in Foreclosure in Florida? – How it works
There are a lot of folks in Florida who have faced foreclosure in the past few years and more to come in 2021 – 2024. 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.
Watch Out For These Guys!
Working With Banks During The Foreclosure Process
- Always over-communicate with the bank. Call them 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. This usually is appreciated by the bank.
- 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 with bankers.
- 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 (we believe that bankruptcy really doesn’t work and just slows the foreclosure process). 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. Time is not on your side. The further behind you become on payments, the fewer options are available to you and the more equity you’ll lose.
We specialize in helping homeowners in situations including foreclosure 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 Florida, we can help you.
We buy properties like yours from people who need to sell fast.