Avoid Foreclosure by Selling

Selling Your Home to Avoid Foreclosure

If you have done everything you can to avoid foreclosure on your home, and you also want to avoid bankruptcy, you still have one option available to you – a pre-foreclosure sale.

Often homeowners do not realize that their home is in pre-foreclosure for quite sometime before the actual foreclosure happens. Before the actual foreclosure date, your home is still yours, and you have the right to sell it.

Benefits of Selling Your Home in Pre-Foreclosure

In general, if you can sell your home for more than you owe on it, then a pre-foreclosure sale is something to consider. You would keep the difference between what you owe and the selling price.Here are several benefits: Cash from the Sale: You keep all proceeds from the sale of your home, after subtracting what you owe your lender, plus taxes, any liens, and commissions.Potentially, you could close that deal with tens of thousands of dollars to put toward a more affordable housing option. Protect Your Credit: A pre-foreclosure sale does not damage your credit. It has no affect on your credit score. Stay in Control: Unlike a foreclosure or a short sale, you still have control over the sale of your house, almost like you would in a regular home sale. The only difference is time. If your lender is working on foreclosing, you have to get it sold before foreclosure. Choosing to sell your home in a pre-foreclosure sale, rather than a short sale, will always be more advantageous to you. In a short sale, your lender would receive all the proceeds from the sale of your house. In a foreclosure, you not only lose your home, but your credit is severely damaged.

Get a Realtor to Negotiate with Your Lender

If you’re considering a pre-foreclosure sale to avoid foreclosure, get a qualified Realtor involved as soon as possible. A good Realtor will not only help you get your house ready to sell, and work to get the best price, but may also be willing to negotiate with your lender. If your lender knows you have a Realtor working on the sale, they may hold off on the foreclosure for a while. They want their money, and a pre-foreclosure sale will generally mean they’ll receive all that’s owed to them.

Schedule a Free Consultation to Prevent Foreclosure or Call Our Toll-Free Number 800-987-1397

What’s the Difference Between a Short Sale and a Pre-Foreclosure Sale?

In a short sale, you and your lender agree to sell the property for less than what’s owed on it, and all the proceeds would then go to your lender and lienholders. Lenders do not like short sales because they lose money. You lose money too. Sometimes that’s still the best option, if you owe more on your home than it’s worth.

A pre-foreclosure sale is technically the same as a regular sale, but it’s happening when your home is in the process of foreclosure.

Is it Better to Avoid Foreclosure with a Pre-Foreclosure Sale or to Declare Bankruptcy?

This will depend on your financial circumstances, but in general, a pre-foreclosure sale is better because you receive cash from the sale of your home, and it will not affect your credit report.

However, if your financial circumstances are dire, bankruptcy may be the better option. For example, if the cash you’d receive from the sale of your home would not be enough to get you out of other debts, and you would have difficulty even finding a place to rent because of your credit score, bankruptcy would provide more comprehensive help for you.

If you are in a desperate situation in which you may lose your home and still not be able to pay your debts, you need advocates working in your best interest. Your creditors have legal help to fight you, and you need legal help to protect your rights.

We can get you in touch with bankruptcy attorneys and credit counselors, who will help you through your situation and get you back on track. It costs nothing to call, and there’s no obligation. A bankruptcy attorney can help you stay in your house longer, and credit counseling can save you thousands of dollars in the future.

Repossession Laws of States
Are you facing Repossession and would like to know how to handle it?

Call Real Estate Yogi to Get All the Expertise You Need to Sell Your Home to Avoid Foreclosure

Real Estate Yogi is a nationwide network of experts in real estate, home improvement, inspections, finance, legal, credit counseling, and more. We can help you avoid foreclosure and repair your damaged credit. The first consultation is always free, and there’s never any obligation to purchase anything – ever!

Get Expert Advice to Prevent Foreclosure!

We have over 15 years of combined experience in advertising, consulting, and marketing to help you find the answers to your queries. In order to obtain the best results, you need to have an idea of what kind of help you require. Real Estate Yogi, USA can help find the solutions according to the information provided via our Contact Form. Be as specific as possible about your needs because a Yogi experience is one step away from your real estate success.

Request a Call Back
close slider

    Request a Call Back

    Yes I agree to the following Terms & Conditions

    information CA residents click here for data rights