Can I sell my Salt Lake City home when in foreclosure?
Is your Salt Lake City UT home in foreclosure currently? Often times when people in UT are in the middle of foreclosure they want to try and get rid of the pressure and ask if it’s possible to sell their home. To put it simply, yes, it’s possible. But, it’s a little bit complicated. It’s often possible to sell your house before foreclosure but the earlier you do it, the better.
Selling Your Salt Lake City Home When In Foreclosure – How it works
Many people in Salt Lake City have had to deal with foreclosures lately. And, because of shifts in the economy, many lenders have changed the way that foreclosures are dealt with.
Keep in mind that when a bank has your mortgage, it wants to avoid your home becoming abandoned or going to auction. They have the best odds of making the most money if they assist you in avoiding foreclosure by selling your home. But, haggling with the banks while in the midst of a foreclosure can be a real hassle. Thankfully, we’ve learned some helpful techniques during the years of dealing with banks to get out of foreclosure proceedings.
Working With Banks While In The Foreclosure Process
- Keep in constant communication with the lender (without being annoying). Call them to provide regular updates on actions you’ve taken to sell your home.
- Always stick to deadlines. Call to give notice if anything is going to be late.
- Keep in mind that bank employees are people as well. Avoid being rude or dramatic, but communicating your situation and working towards a solution will show that you are trying.
- Maintain records of each conversation that takes place with the bank. Ensure that everything is in writing. Write down the names of who you spoke with and everything they said or promised.
- Look into all available options – this includes short sales, getting your loan modified, and filing bankruptcy. It will depend on your unique situation, but you can likely slow down foreclosure proceedings if you put forth the right effort. Each different lender will have its own ways of helping homeowners stay out of foreclosure.
- Don’t delay. You don’t have all the time in the world. The later you become with your payments, the fewer options you will have available.
We help homeowners who have fallen into foreclosure in the Salt Lake City area and the entire state of UT get back up and avoid foreclosure. In some situations, we can directly negotiate with your lender to lower the amount you owe and (at times) even assist you in getting cash for your property.
If you’re needing to sell a home near Salt Lake City, we’re here to help.
We buy homes like yours from folks who need to sell quickly.