Are you currently facing a Boston MA property in foreclosure? If so, you may be wondering about your options. The good news is that you CAN sell a house in foreclosure. While the process may seem daunting, it is possible to sell your property before the foreclosure is completed. Time is of the essence, so it’s best to explore your options as soon as possible.
Can I Sell My House in Foreclosure in Boston? – How it works
In recent years, many residents in Boston have experienced foreclosure due to economic changes, leading to shifts in how banks handle such situations. It’s important to understand that the financial institution holding your mortgage is not interested in seeing your property abandoned or sent to auction. Banks stand to benefit the most from assisting you in avoiding foreclosure through the sale of your home. However, navigating the complexities of dealing with banks in foreclosure proceedings can be challenging. With years of experience in collaborating with banks to prevent foreclosures, we have acquired valuable insights and strategies to support you through this process.
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.
- Keep careful records of every conversation you have with the bank from the very beginning of the process. 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 in terms or repayment schedules etc, and lastly 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 although it may not feel like it at the time.
- Don’t wait. Unfortunately, time is not on your side. The further behind you become on payments, the fewer options are available to you but if you get ahead of any potential problems and try to work it out with your lender they will be much more amenable to helping you in whichever route that might work for you.
If you’re looking to sell your Boston house in foreclosure fast, call us now.
We specialize in helping homeowners in situations including foreclosure around Boston and the whole state of MA 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 Boston, we can help you.
We buy properties like yours from people who need to sell fast.