Do you have a Berks County PA house that’s in foreclosure right now? Many people going through the PA foreclosure process want to get out from under that burdensome house and wonder if they can sell the house 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. The further into the foreclosure process you get, the more attorney fees and late fees the bank tacks onto what you owe. This makes it more difficult to sell.
Can I Sell My House in Foreclosure in Berks County? – How it works
There are a lot of folks in Berks County who have faced foreclosure in the past few years. Since 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’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. Always write down the name of anyone you talk to at the bank and the time/day that you spoke with them.
- 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. Often times, we see turnover of the staff person assigned to a particular house foreclosure case. You want to make sure you remember who you were speaking with before. Even if they aren’t handling your file anymore, you want to be able to reference their name and what they told you.
- 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. This is because the bank will charge you their attorney fees and you will also be racking up late fees.
We specialize in helping homeowners in situations including foreclosure around Berks County and the whole state of PA 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. We understand that this is a stressful situation that no one wants to have to face, but the sooner you face it and handle it head on, the easier the whole process will be.
If you need to sell a property near Berks County, we can help you.
We buy properties like yours from people who need to sell fast.