Do you have a Murfreesboro TN house that’s in pre-foreclosure right now? Most people going through the TN foreclosure process want to avoid it at all costs, and rightfully so.. The good news is you usually can sell your house prior to the foreclosure auction. Things can get complicated sometimes so the sooner you start the better.
The banks have shifted the way that they deal with foreclosures. They really don’t want to see your home abandoned or auctioned off. This impacts their ability to lend. The bank stands to make the most amount of money by helping you to avoid foreclosure by selling your property.
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.
- 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.
- 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.
- 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.
If you see there is no way you are going to get caught up on payments, or the bank isn’t going to work with you on a loan modification or forbearance, or maybe you’ve just had enough and want to get rid of the house call us now. We specialize in helping homeowners in situations including avoiding foreclosure.
If the auction is upon you in all probability a quick close cash offer will be needed. We have funds available to get it done!
If you happen to owe more that the house is worth 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 decide to sell early enough we can even list the house as-is on the MLS for you. We have real estate agents on staff with years of experience. They know how to navigate the MLS and get the house sold, and in this market you will probably net more money.
Again, this all depends on if there is enough time so the sooner you decide to sell the better your chances and the more options you have.
If you need to sell a property near Murfreesboro, we can help you.