We buy houses in Medford Massachusetts. Do you have a Medford house that’s in foreclosure right now? Many people going through the MA foreclosure process want to get out from under that burdensome property and wonder if they can sell it in foreclosure. As homebuyers in Medford MA our 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 Medford MA? – How It Works
There are a lot of folks in Medford who have faced foreclosure in the past few years. Due to the changes in the economy, a lot of banks have been shifting the way that they deal with foreclosures.
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 have learned a few tricks that will help you.
Working With Banks During The Foreclosure Process In Massachusetts
- 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.
Medford MA Home Buyers
If you’re looking to sell your house in Massachusetts in foreclosure fast, call us now. We are professional home buyers and we pay cash for houses in Medford. We specialize in helping homeowners in situations, including foreclosure around Medford and the whole state of Massachusetts, 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.