Do you have a New Orleans LA house that’s in foreclosure right now? Many people going through the LA foreclosure process want to get out of that burdensome house and wonder if they can sell it in foreclosure. The short answer: yes. The long answer: it’s a little more complicated, but usually you can sell your property before foreclosure. Generally, the sooner you start, the better.
How it works
Many people in New Orleans have experienced foreclosure recently. Due to economic changes, banks have altered their approach to handling 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’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 is 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. Keep track of each person you speak with, what they said, and any promises made.
- Explore all your options, which include options such as short sales, loan modifications, and bankruptcy. Depending on your individual circumstances, you may be able to significantly delay the foreclosure process with enough effort. Each bank has its own policies in place to assist borrowers in avoiding foreclosure.
- Don’t wait. Unfortunately, time is not on your side. The more you fall behind on payments, the fewer options you will have available to you.
Call us now if you’re looking to sell your New Orleans house in foreclosure.
We specialize in helping homeowners in situations including foreclosure around New Orleans and the whole state of LA escape 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 Orleans, we can help you.
We buy properties like yours from people who need to sell fast.
Avoid Foreclosure
Don’t Let the Bank Take Your Equity Away
At Abbott Price, we offer solutions to your financial hardships by purchasing your property off-market.
We close fast and pay cash, allowing us to stop foreclosure. If you are in a pre-foreclosure situation, you don’t have the luxury of time.
Give us a call at 504-655-6063 anytime
or fill out the form over here today! >>
