Do you have a Bakersfield California house that’s in foreclosure right now? Many people going through the California 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.
Can I Sell My House in Foreclosure in Bakersfield? – How it works
There are a lot of folks in Bakersfield 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. Especially in such crazy times we live in now, with Covid-19 affecting so many different people, it is important to learn about your options, and find out what you can do to put yourself in the best position possible, even in a difficult situation like foreclosure.
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. 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. Most banks are fairly lenient if they are under the impression that you are doing your best to catch up on your payments. They do not want to force you through foreclosure, but they will if they have to.
- 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. When you speak up, you are seen as a person in the eyes of a bank. However, by not saying anything, the bank tends to look at you and your property as an unfortunate number that must be taken care of.
- 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. This is not to try to trick them or catch them in anything, but to help expedite communication to your benefit.
- 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. While a foreclosure can definitely be a stressful situation, it is important to take action as soon as possible to give yourself the best chance at finding a meaningful solution for you and your family.
- Don’t wait. Unfortunately, time is not on your side. The further behind you become on payments, the fewer options are available to you.
We specialize in helping homeowners in situations including foreclosure around Bakersfield and the whole state of California 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. Stopping foreclosures can be a scary and confusing topic, so please reach out to professionals that have dealt with these situations before.
If you need to sell a property near Bakersfield, we can help you.
We buy properties like yours from people who need to sell fast.