Do you have a Idaho house that’s in foreclosure right now? Many people going through the Idaho foreclosure process want to get out from under that burdensome house and wonder if they can sell the house in foreclosure. The short answer is – 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 Can I Sell My House in Foreclosure in Idaho?
There are a lot of folks in Idaho who have faced foreclosure recently, and many more to come as the backlog of foreclosures that were held up during the pandemic come on the market. Since the Great Recession, a lot of banks have shifted 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 – tons of paperwork, lots of phone calls, and a lot of time on hold. 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 You Bank During The Foreclosure Process
- Always communicate regularly with the bank (but don’t be annoying). Call with updates and show them what you’re doing to get your property sold. A lot of homeowners tend to try to avoid contact with the bank thinking the problem will just disappear. This is a big mistake.
- 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.
- 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 of 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.
- Act Now. 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 Idaho 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 Idaho, we can help you.
We buy properties like yours from people who need to sell fast.