Do you have a Minneapolis Minnesota house that’s in foreclosure right now? Many people going through the Minnesota 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.
Selling Your Minneapolis House In Foreclosure – How it works
There are a lot of folks in Minneapolis 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.
- 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.
- 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.
We specialize in helping homeowners in situations including foreclosure around Minneapolis and the whole state of Minnesota 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 Minneapolis, we can help you.
We buy properties like yours from people who need to sell fast.
Give us a call at (763) 503-0123 anytime
or fill out the form over here today! >>
If you have other questions about who we are at Twin Cities Home Buyers, or what we do, and how we do it, our frequently asked questions page is a great resource of questions we get asked the most often working with Minneapolis, St. Paul home owners.
If you don’t find the answer you are looking for, feel free to email us through our contact page. We’ll help you to the best of our ability. We’ve come up with some creative solutions to the situations home owners find themselves in. By taking a look at your specific situation, we can give you the information you need to make an educated decision about your home.
When you work with Twin Cities Home Buyers to sell your house in Minneapolis, St. Paul, or smaller towns in the surrounding area, you are guaranteed to close on your house. We have never had a broken transaction and always close.
You can learn more about our process and how working with us is different than other home buying companies or listing your home with a realtor. To see our hassle-free process, visit our How It Works page. For more of an explanation about how we are different from a real estate agent, check out our compare page.
If you are ready to get started and would like to see what kind of offer we can make on your home, fill out the form here to receive your no-obligation all-cash offer… and the best part is: we can close whenever YOU choose to close – it’s entirely up to you.
It doesn’t matter what condition the house is in, or even if there are tenants in there that you can’t get rid of… don’t worry about it. We’ll take care of it for you. And if you need the cash quickly, we can close in as little as 7 days because we buy houses with cash and don’t have to rely on traditional bank financing. If you have more questions you can reach us at 612-255-1544.