Many of our clients ask us “Can I sell my Miami home in Foreclosure?” Many people going through the FL 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.
Foreclosure is a tragedy to any homeowner. It is not just sad to lose a house; it is devastating to lose a house that you have worked for a long time. There several things that could have happened in your life that led you to this point. You may have lost your job, lost a family member or made a wrong investment decision. You can also be led into this situation by a divorce. Whatever the reason why you are facing foreclosure at the moment, we can help you get out of it. We do this by giving you the opportunity to make a short sale of your house. We are the solution to your problem.
Selling Your Miami House In Foreclosure – How it works
There are a lot of folks in Miami 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.
We Will Help You Stop Your Foreclosure
We will help you stop foreclosure at any stage. It’s never too late to talk to us. However, if you want to keep more money to yourself, you should contact as soon as possible. This is because the earlier you stop the foreclosure, the higher the amount of money you are going to save. We will help you stop foreclosure on any kind of property, be it a small house, a mansion or an apartment. The location of your property and its price do not matter.
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 get your property sold.
- Don’t miss deadlines. If anything will be late, call with advance notice.
- 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.
- 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. 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. Unfortunately, time is not on your side. The further behind you become on payments, the less options are available to you.
If you reach an agreement with the lender, make sure they provide it in writing so that you’re protected if they don’t live up to their end of the agreement. And don’t rely solely on the lender to act in your best interest. Before you sign anything, have it reviewed by a real estate attorney or local housing counseling agency approved by the U. S. Department of Housing and Urban Development. Visit www.hud.gov or call 800.569.4287 to find a local HUD-approved housing counseling agency.
We specialize in helping homeowners in situations including foreclosure around Miami and the whole state of FL 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 Miami, we can help you.
We buy properties like yours from people who need to sell fast.
We Can Help You Even If You Have Negative Equity
You should not hesitate to talk to us even if you have negative equity. You can still sell your house even if you have no equity or negative equity. We are the only ones who can help people make short sales even when they owe the bank more than the house is worth.
Whatever your reason that led you to your current situation, we are here to help you stop foreclosure and sell your house within the shortest time possible. Talk to us as soon as possible. We have helped many people in a desperate situation like you before. You will definitely not be the first one or last one. The more you continue to wait, the worse the situation becomes. Act now by calling us or filling in the web form below.
What is a short sale?
With property values dropping in many places, short sale has now become a common term in the mortgage business. The most intuitive way to remember what a short sale is by thinking that it is the sale of a house that is short on money owed on home loans. How does this happen? Well, there are a few different factors that can contribute to a short sale, but the biggest one is the low appraisal and drop in property values.
A short sale, also known as a pre-foreclosure sale, is when you sell your home for less than the balance remaining on your mortgage. If your mortgage company agrees to a short sale, you can sell your home and pay off all (or a portion of) your mortgage balance with the proceeds. Depending on your situation, you may be required to make a financial contribution to receive a short sale.
The reasons for a short sale outlined in the hardship letter can include family emergencies, loss of employment, and many other critical factors that cause a loss of income. Regardless of the situation, the very general definition of a short sale is when the seller sells his house for less than what he owes on their mortgage. The situation is not ideal for either the homeowner or the bank, but it is often the only economical choice both parties have.
A short sale is an alternative to foreclosure and may be an option if:
- You are ineligible to refinance or modify your mortgage
- You are facing a long-term hardship
- You are behind on your mortgage payments
- You owe more on your home than it’s worth
- You have not been able to sell your home at a price that covers what you still owe on your mortgage
- You can no longer afford your home and are ready or need to leave