Do you have a Austin TX house that’s in foreclosure right now? Lots of people have been threatened with foreclosure in TX and need to get out of their house but don’t know how. Do you wonder if you can sell your house if you are in foreclosure in Austin? Its complicated, but the short answer is YES…. and the sooner you do, the better.
Selling Your Austin House In Foreclosure – How it works
Many people in Austin have been in foreclosure in the past few years. Since 2008, the banks have had to change the way they deal with foreclosures, and thats actually good news. You see, banks actually don’t want your house to be actioned or abandoned, and they don’t wan to own it either. Did you read that correctly? Yes. The bank does NOT want the house back. They are in the business of making money on the interest of your home, and auctioning it is just not as profitable. The bank stands to make the most amount of money by helping you to avoid foreclosure by selling your property. But dealing with banks during the foreclosure process can be very stressful. I’ve been helping people out of foreclosures for years, and I know some things that will help you.
Working With Banks During The Foreclosure Process
- Over-communicate with the bank. Call the bank and tell them what you are doing to sell the property. Make sure you document when you call them!
- Do everything on-time. Don’t miss bank deadlines. Banks are not really forgiving about being late…
- Be nice to the bankers. Talking to bankers can be frustrating. Just remember that the person you’re talking to on the phone did not make the decision to take your house away. They are just doing their job and following directions. If you are nice to them they will usually make the effort to give you every break they can.
- Keep careful records of every communication you have with the bank. This probably should be number one. Write down the date, time, communication type (phone call, email, etc), and what was said. Make sure to keep track of each person you speak with, what they said, and any promises made.
- Look at every option you can. This includeds 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.
- ACT NOW! Time is not on your side. The further behind you become on payments, the less options are available to you. You can see how foreclosure relates to debt HERE.
We specialize in helping homeowners in situations including foreclosure around Austin and the whole state of TX 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 Austin, we can help you.
We buy properties like yours from people who need to sell fast.