Can I sell my San Francisco/Oakland Bay Area house in foreclosure?

foreclosures-attracting-home-buyers

There is nothing worse then having your ideal dream shattered. You may ask, what am I talking about. Let me paint a picture for you. There are millions of people all over this country that have this dream: You graduate High School, attend that college or University you always want to attend. Graduate from college, land that ideal job and work and endure over the years. Be responsible like you have always been told to do, save money why? Because you are going to get your FOREVER HOME! Finally after all the years of doing the right thing, you close on that Forever Home. The first 3 years are great, you are paying your mortgage on time every month as you have always been told. You open your monthly statement just as you have been doing regularly every month, but this statement looks different…huh, what! Oh yes, you have an adjustable mortgage rate. What does that mean? Well it means your payment just went up! Boom suddenly your company is cutting jobs to balance their books, you are a cap causality.  Months go by with late payment after late payment, that turns into non-payments. Ut oh…here comes pre-foreclosure, you try and refinance but do to all the late and non-payments the bank does not want to work with you. What is next? You guess it, the dredged F word. Foreclosure, you think there is nothing you can do in this situation. It would look like that, but there is a solution to your problem.

Many people going through the California 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.

DEBT3Selling Your Bay Area House In Foreclosure – How it works

There are a lot of folks in Oakland who have faced foreclosure in the past few years. 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.

Working With Banks During The Foreclosure Process

  1. Always over-communicate with the bank (but don’t be annoying). Call with updates and show them what you’re doing to get your property sold.
  2. Don’t miss deadlines. If anything will be late, call with advance notice.
  3. 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.
  4. 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.
  5. Explore all your options, including short sale, loan modifications, and bankruptcy. 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.
  6. Don’t wait. Unfortunately, time is not on your side. The further behind you become on payments, the less options are available to you.

If you’re looking to

We specialize in helping homeowners in situations including foreclosure around San Francisco/Oakland and the whole state of California 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 San Francisco/Oakland, we can help you.

We buy properties like yours from people who need to sell fast.

Give us a call at (844) 602-5765 anytime
or
fill out the form over here today! >>

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