Dealing with a New Britain house that’s in foreclosure? You are not alone, not the first and not the last. Many have gone through the foreclosure process in Connecticut and want to get out from under that burdensome house. We get asked all the time if it is possible to sell a CT home 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.
How To Sell Your House In New Britain In Foreclosure.
Many people in Connecticut have faced foreclosure in the past. Since the changes in the economy, a lot of banks have been shifting the way 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, it can be quite frustrating dealing with the banks during foreclosure. 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
- Communication is key! Call the bank with updates and show them what you’re doing to get your property sold.
- Avoid missing deadlines. If you know you will be late with any of your dues, call with advance notice.
- Remember that bankers are people too. Don’t be overly dramatic, and explain your situation and demonstrate your willingness to fix and address the problems to make it right.
- Keep 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 less options are available to you.
Can I Sell My New Britain CT House In Foreclosure?
We help homeowners in situations including foreclosure inNew Britain and the whole state of 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.
If you need to sell a property near New Britain, let us help you.
We buy properties like yours from people who need to sell fast.