Is your home in threat of foreclosure? It’s never a good situation, but you may have more options than you realize. Depending on your financial circumstances, you might even be able to avoid foreclosure altogether.
Selling for Cash Before Foreclosure
At Offer4Cash, we get a lot of calls from people in your situation. The bank is threatening to foreclose and they don’t know what to do. In many cases, we are able to make a cash offer for the house and close the deal before any steps of foreclosure are taken by the bank. A cash sale can be completed in as little as a week, or we can give you more time to move out if you need it. In the end, you will have cash in your hand to pay off at least some of your debts—if not all of them—and you may also be able to avoid the negative mark on your credit report that comes with a foreclosure or short sale.
What is Your Financial Situation?
Now, whether or not it makes sense to sell for cash to avoid foreclosure may depend on several financial factors. If you are extremely upside-down on the property, you might not be in position to sell. You can get what you are able to out of the house, but you will still owe a lot of money to the bank.
Finding the Best Solution
Truthfully, the people who benefit most from selling for cash are going to be those who have some equity built up in the property or at least have a house with a value that is close to that of the amount they still owe on it. Still, it’s important to research and understand your options. It’s never a bad idea to give us a call at (209) 661-7385 or fill out the request form on any page of this website. We’ll review your situation and help guide you in the best direction. If there is any way to avoid foreclosure, we’ll help you find a solution.