Do you have a San Antonio Texas house that’s in foreclosure right now? Many people going through the Texas foreclosure process want to get out from under that burdensome house and wonder if they can sell the house in foreclosure. The short answer: yes. The long answer: it’s a little more complicated, but usually you can sell your property prior to foreclosure. Generally, the sooner you start, the better. In today’s Covid environment, we have even more ways to help you save your home!
Can I Sell My House in Foreclosure in San Antonio? – How it works
There are a lot of folks in San Antonio who have faced foreclosure in the past few years. Since the changes in the economy, a lot of banks have been shifting the way that they deal with foreclosures. The pandemic has speeded that process along.
Remember, the bank that carries your mortgage doesn’t want to see your home abandoned or auctioned. The bank stands to make the most amount of money by helping you to avoid foreclosure by selling your property. Banks aren’t property managers, and they would rather not do it if given the choice. However, dealing with banks during any part of the foreclosure process can be a huge pain. Over many years of working with banks to help stop the foreclosure process, we’ve learned a few tricks that will help you.
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. Think of this as gaining trust back.
- 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. A little kindness can go a long way.
- Start keeping careful records of every conversation you have with the bank. 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. Many people have lost homes thinking they had everything handled. Don’t let that happen to you.
- Explore all your options, including 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.
- Don’t wait. Unfortunately, time is not on your side. The further behind you become on payments, the fewer options are available to you. It is very common for people to become paralyzed by the anxiety of foreclosure and losing their home. Often times they don’t take any action, and don’t even know where they will go if they are foreclosed upon.
We specialize in helping homeowners in situations including foreclosure around San Antonio and the whole state of Texas 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. Foreclosure can be overwhelming, but it doesn’t have to be. Remember, you don’t have to go this alone. At Rehab Brothers we want to do everything we can to help you. Whether that means buying your home, or just giving you the knowledge and resources you need to stay in your home, we want to help.
If you need to sell a property near San Antonio, we can help you.
- Bexar County Foreclosure Facts
- Comal County Foreclosures
- TX Department of Housing Covid Foreclosure resources