Do you have a Washington DC house that’s in foreclosure right now? Many people going through the foreclosure process want to be free from their burdensome house and wonder if they will be able to sell it. The answer is yes, but it can be complicated, and the sooner you begin the process, the better.
Selling Your Washington DC House In Foreclosure – How it works
There are lots of people in Washington DC who have been confronted with foreclosure on their homes in the past few years, and due to fluctuations in the economy, many banks have shifted the way they deal with foreclosures.
It’s important to remember that the bank which holds your mortgage doesn’t want to see your home abandoned or auctioned, as they stand to make the most amount of money by helping you sell your property and avoid foreclosure.
Dealing with banks during any part of the foreclosure process can be an enormous pain, so we would like to share what we’ve learned over the years that you can use to your advantage.
Working With Banks During The Foreclosure Process
Make sure you communicate with the bank, calling periodically to update them on what you are actively doing to sell your property. Be careful not to miss any deadlines, and if anything will be late, give them advanced notice.
Maintain careful records of every conversation you have with the bank, as nothing counts unless it is in writing. Make sure to keep track of each person with whom you speak, what they said, and any promises made.
Keep in mind bankers are people too. Try not to be overly dramatic while fully explaining your real life situation that brought you to the point of having your home in foreclosure.
Explore all your options, including short sale, loan modifications and bankruptcy. With enough effort, and depending on the details of your personal situation, you may be able to dramatically slow down the foreclosure process. Each bank has its own policies to help borrowers avoid foreclosure.
Don’t just sit around and wait either, because unfortunately, time is not on your side. The further behind you become on payments, the fewer options you have.
If you’re looking to sell your Washington DC house in foreclosure fast, call us now.
We specialize in helping homeowners with properties in foreclosure around the Washington DC metro area to get out of these difficult situations and avoid foreclosure. In certain circumstances we can catch you up on your mortgage payments and bring your loan current. Sometimes we can even help you walk away from your property with cash.
If you need to sell a property near Washington DC or the surrounding areas, we can help you with that too.
We buy properties like yours from people who need to sell fast.