Do you have a Texas house in foreclosure right now? Some people in the Texas foreclosure process are looking for a way to get out of a burdensome house and are wondering about selling a house in foreclosure in Texas… and if it can even be done? The short answer is yes! But it comes with a disclaimer: it is generally more complicated, but there is almost always a way for you to sell your property before it actually gets foreclosed on. A good rule of thumb: the faster you act, the higher your chances are of being successful.
Selling A House In Foreclosure in Texas – How it works
There have been lots of homeowners in Texas in the past few years that have also dealt with foreclosure. Because of all the shifts in our economy, banks have made adjustments in how they handle the spikes in foreclosures over the last decade. If you’re currently facing foreclosure, it probably feels like the bank is “against” you, but its important to remember that they really don’t want to foreclose on you. They actually stand to make a lot more money if you continue to pay on the property. But we understand that dealing with the banks is a total pain. So we’ve come up with a few tips to help you navigate those waters.
Working With Banks During Foreclosure
- Communication is key! Make sure you are keeping the bank in the loop of your intentions. It makes them feel better when they know your intentions and will in turn, be more willing to work with you.
- Keep Your deadlines. If you do have to be late, call and give them an advanced notice.
- Remember, bankers are also people. You don’t have to get overly dramatic, but explain your situation and also demonstrating that you are willing to compensate for lateness will go a long way.
- Keep thorough records of each conversation. Every agreement that you guys come to you need to get in writing. Write down the names of each person you talk to, what they say and what agreements were made.
- Explore your options. Make sure you are looking into what is going to help best with your particular situation. You definitely want to explore short sales, a loan modification, and bankruptcy as options. Each bank will have its own practices and policies to help homeowners evade foreclosure.
- Do not wait. Unfortunately, no matter where you’re at in the process, time will be your worst enemy; and the more late you get on payments, the least amount of options will be available to you.
If you already thinking about selling a house in foreclosure in Texas, you need to call us NOW so we can start looking at your particular situation and what needs to happen so that we can buy yours house at the best benefit to you.
We are specialists at helping homeowners with their property problems – including foreclosure! We help people all around Texas and other parts of Southern California to get out of hard situations and even avoid foreclosure. In some circumstances, we can even negotiate directly with your bank and reduce the amount that you owe. If you’d like to learn more about those processes, you can visit our keep Your Home Page on our website.