Help for Homeowners in Pre-foreclosure
If your house is in pre-foreclosure, don’t assume it is impossible to get out from under the debt. We Buy Salt Lake City Houses is here to help you sell your house fast for good money. Though pre-foreclosure is certainly stressful, and it might seem as though there is no hope, our house-buying team is ready and willing to provide a financial lifeline. We buy houses in pre-foreclosure, helping people pay off their mortgage and make a successful transition to a new chapter in life.
You Have the Option to Sell in Pre-foreclosure
Pre-foreclosure is certainly a concerning step in the foreclosure process, yet it does not mean that all hope is lost. Pre-foreclosure provides you with the option to remain in your house prior to the foreclosure. This step in the foreclosure process is triggered after failing to make mortgage payments. The lender then issues the default notice. However, this legal notice merely indicates the lender has started the legal process necessary to foreclose on the house.
You Can Still Sell the House
The overarching goal of the bank is to obtain the money owed on the property. This means you can sell the house, pay off the mortgage, and move on to a new house, condo, or apartment. Fail to sell the house, and the lender will eventually move forward with a trustee sale or auction sale. The bottom line is that the property will eventually be sold so the bank can receive the money owed on the loan. If you don’t sell your house fast for cash to We Buy Salt Lake City Houses, the lender will eventually foreclose on it and sell to the highest bidder. Once the bank sells to the highest bidder, you will be forced to vacate the premises.
Instead of letting the bank move forward with the foreclosure, be proactive by taking the initiative to sell your house on your own for cash. The vast majority of lenders accept short sales when a homeowner is in the pre-foreclosure stage of the foreclosure process. A short sale involves the buyer paying less than the mortgage balance. If the bank approves the short sale, it will avoid the strenuous process of foreclosing on the property.
Contact the Mortgage Provider
It is a mistake to cut off all communication with the lender. Continue to communicate with the party that provided your mortgage. Even if you cannot make payments, it is in your interest to interact with the mortgage servicer. The lender might allow you to delay payments for a certain period of time. Keep in mind, mortgage providers invest considerable resources in the mortgage process, meaning they do not want the transaction to fail. Your mortgage provider will likely be quite flexible in the quest to avoid foreclosure.
Make it clear to the lender that you will consider a cash offer from We Buy Salt Lake City Houses, and you might be able to avoid foreclosure while we prepare your offer. Our team acts quickly, meaning we might be able to close your house sale in a couple weeks or less. We Buy Salt Lake City Houses’ cash offers set the stage for a smooth and seamless transition out of pre-foreclosure to new living arrangements, ensuring you can move on without the crushing weight of an unpaid mortgage.
Exhaust All Possible Options Before Allowing Foreclosure to Occur
It is imperative that you prevent foreclosure. Instead of letting the bank foreclose on your house, choose to sell it. However, you might not be ready to move out. If you need another couple of months’ time, do whatever it takes within the confines of the law to stay in the house. Borrow money from other lines of credit, take out another loan, or reach out to family for financial assistance. You can pay back these creditors after selling your house to We Buy Salt Lake City Houses.
We Buy Houses in Salt Lake City for Cash
If you are in pre-foreclosure, you can still sell your house fast. We Buy Salt Lake City Houses will make an all-cash offer for your home. Reach out to us today to find out how much you can get for your house. You can reach us online or by dialing 801-821-2869 or (888) 340-2501.