You might not realize it, but you can sell your house while facing foreclosure. It's obviously not what you dreamt of when you purchased the home, but life gives us unexpected surprises, not all good. Sometime sun foreseen obstacles or tragedies can lead a person to fall behind on mortgage payments. Knowing that foreclosure is approaching is very stressful. The important thing to know is that you have the option to sell your house fast and avoid foreclosure.
In the unexpected situation of foreclosure, selling your house might be the light at the end of the tunnel. If you decided to sell your house before foreclosure, you can avoid further damage to your credit history. At the same time, your financial stress can be alleviated, and you may even be able to make a profit from your home equity.
Banks and mortgage companies can move fast into foreclosure proceedings when you have fallen behind in mortgage payments. You won't have alot of time if you’re hoping to be out of the home before foreclosure takes place. House buying companies can give you an offer to buy your home in aslittle as 7 days. They can even close the sale in as little as 7 days and provide a lease-back option while you look for your next home.
Laws differ by state. In some states, there’s judiciary foreclosure, which means that the case needs to go before a judge before the property is officially no longer yours. Other states have nonjudicial laws,which can make the process go much faster for the lender. Texas allows for nonjudicial foreclosure, which means that the lenders can foreclose fairly quickly, in somecases as little as 60 days. The lender sends a notice of default 20 days after the payment is past due.
You need to act fast if you want to try to sell your home before your bank forecloses on it. The first thing you need to do is research home sales in your neighborhood. Knowing what other homes in your area have recently sold for will give you a better idea of how much you might get for your home. Generally the two biggest factors that will determine how much you can sell your home for is the condition and your neighborhood.
Brisea Properties serves home sellers in Montgomery, TX and surrounding areas. Not everyone can wait weeks or months to sell their homethrough the traditional real estate market. And not everyone has the time orresources to ready a home that’s in disrepair and get it in selling condition. Whatever your circumstances Brisea Properties is here to help. We can buy your house fast and get you cash in a matter of days.
Learn more about how we can help @ www.briseaproperties.com
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