Do you or someone you know have a Salt Lake City Utah house that’s in foreclosure right now? Many people going through the foreclosure process want to get out from under that troublesome house and wonder if they can sell the house in foreclosure. The short answer: yes. A better answer is: there is more to it then you think, but usually you can sell your house before a Salt Lake City foreclosure. A rule of thumb is the sooner you get started, the better off you are.
How Do You Sell Your Salt Lake City House In Foreclosure ? – Here’s How
There are several people in Salt Lake City who have faced foreclosure in the last couple of years especially in 2007. Since the economy has improved, many lending institutions have changed their policies with the way they deal with foreclosures.
Lets Remember, the lender that has your mortgage doesn’t want to see your house auctioned or abandoned. They rather receive monthly payments then own a property. The banks make more money if they help home owners to avoid foreclosure by selling your house. However, dealing with Lenders during the foreclosure process can be a huge pain. During the years that we have worked with banks to stop the foreclosure process, we know and have learned a couple of tricks that will help you.
The Foreclosure Process And How To Deal With Banks
- Communicate, communicate, communicate with the bank (but not over barring). Call your bank with any updates and demonstrate to them what you’re doing to get your house sold.
- Keep up on the deadlines. If for some reason something may be late, call and give them as far as notice as possible.
- Remember that you bankers are human too. Don’t be too dramatic, but keep your explanations short and too the point. Show them that you are willing to fix the problems, as you do so you will see how they will be willing to work with you.
- Begin keeping all records of every phone or email 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 your personal situation or circumstance, 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 have asked this question “can I sell my Salt Lake City house in foreclosure then call us now.
We specialize in helping homeowners in situations including foreclosure around Salt Lake City and the whole state of Utah get out of difficult situations and avoid foreclosure. In some circumstances we can help negotiate directly with the bank to reduce the amount you owe and (sometimes) even get you cash so you can walk away from your property.
If you need to sell a property near Salt Lake City, we can help you.
We buy properties like yours from people who need to sell fast.