Sell House Pre-Foreclosure
Until it happens to you, foreclosure can seem like something that only affects other people. However, challenging economic times often put even the most well-intended homeowners in danger of foreclosure. It’s difficult enough to face the possibility of giving up your home and moving without having to consider the more long-term consequences of foreclosure.
If you’re beginning to feel trapped by the onset of a potential foreclosure, it might be time to consider selling your house to a cash home buyer like Bill Buys Houses. Depending on your scenario, it could be your best option.
Our team of professionals will be compassionate and caring towards your situation by providing a safe and honest space where we lay out the process of selling your pre-foreclosed house for cash.
If you’re facing foreclosure or know you’re headed there, the best thing to do is to be proactive.
Do these two things right away:
Here’s what you need to know about selling your house when facing foreclosure:
A forbearance allows you to suspend payments for an agreed upon period of time so that you can have time to work through a difficult financial situation. Forbearances often include additional payments that can end up adding to your financial burden in the long run, so be sure to evaluate the long-term risks of this option before choosing it.
It may be possible for your bank to modify the terms of your loan with a loan extension or interest payment decrease. This is one of the most common solutions when avoiding a foreclosure and it allows homeowners to maintain ownership of their property. Unfortunately, for homeowners who are struggling with long-term financial concerns, this may not be their best option.
If the above options aren’t the best choice for you, you still want to do everything you can to avoid the long-term consequences of a foreclosure, which include:
Many homeowners consider bankruptcy as an alternative solution. While bankruptcy may stop the foreclosure process, it is a temporary solution with serious lasting consequences. Even if you manage to hang onto your home for a little while longer, the fallout can affect your credit for years to come.
If you want to avoid foreclosure and sell your home, you may be worried there isn’t enough time to look for a buyer and conduct a sale. With a cash home buyer that buys houses as is, you can sell your house fast so that you can avoid foreclosure entirely and move on with your life.
Plus, when you work with Bill Buys Houses, you don’t have to worry about the lasting impact of foreclosure on your credit! Unlike listing your house on the real estate market, when you sell your house to a cash home buyer, you don’t have to worry about making repairs or cosmetic improvements.
Our team of professionals at Bill Buys Houses is ready to buy your home on the spot, which means you also won’t have to wait for a buyer to get approved for a loan. If you’re facing foreclosure and worried about your next steps, give us a call. We can have your sale closed within about a week in most cases so you can move on and start rebuilding your credit.
Contact us or call to connect with a cash home buyer at 651-270-9191.
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