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Can I Sell My House in Foreclosure in Worcester?

Do you own a home in Worcester, Massachusetts or the surrounding area that you are behind on mortgage payments or that is facing foreclosure? If you said yes, then you will want to know that yes, you still have options on selling your house in Worcester to help you avoid some of the worst consequences of foreclosure in Massachusetts. There’s a catch though – you need to act soon because the more time you have, the better your options.

The process of selling a house in Massachusetts that is facing foreclosure can be complicated depending on the property in question. If you have questions about foreclosure or what you can do to sell your house before it’s too late, keep reading this article.

How Selling a House in Foreclosure in Worcester, Massachusetts Works

With the high number of foreclosures in recent years due to widespread economic issues faced by homeowners, banks and lenders have shifted the way they handle foreclosures. A key thing to keep in mind when dealing with a bank during a foreclosure is that they do not want to have to repossess and sell your home through an auction. That is literally the last option they resort to when there are no other options.

Because banks want to avoid having to do this, they will allow you to sell your house on your own to a qualified buyer. Quite literally, the bank will make more money this way than if it goes to an auction. That being said, it’s still an enormous pain to have to deal with the bank during this process even if you are trying to sell your house and help them avoid having to go through repossession and auction.

Because SRS Cash Home Buyers has worked with so many homeowners and lenders over the years to buy homes in foreclosure, we’ve actually learned quite a few strategies that will minimize the stress of working with a bank during a foreclosure.

Five Pieces of Advice for Working With a Bank to Sell Your Worcester House During Foreclosure

Much of this advice is great when working with a bank even when you aren’t behind on your mortgage:

  1. Never Miss a Deadline. This is the biggest rule. This means that if you aren’t going to be able to make a payment, you call before the deadline with advance notice.
  2. Communicate about everything. You don’t want to annoy your bank, but you want to always call with updates when relevant, explain what you are doing to sell the property, etc.
  3. Keep records of all communications. You should be doing this even if your mortgage is in good standing. Nothing someone tells you from the bank will matter if you don’t get it in writing.
  4. Look at EVERY option. A short sale that leaves you owing just a fraction of your total debt is far better than a foreclosure. You should also consider any possible loan modifications available to you. Bankruptcy is also an option you should consider depending on your financial situation.
  5. Remember, bank representatives are human just like you. This can be tough when you are facing foreclosure and possible eviction. But, trying to treat the people you interact with like human beings will make them much more willing to see things in your favor when possible.

If you own a house in Worcester and you are looking to sell quickly, you should talk to SRS Cash Home Buyers. We specialize in helping homeowners needing help with difficult situations like avoiding foreclosure. In some cases, we may even be able to negotiate directly with the bank on your behalf.

If you need to sell a house in Worcester, SRS Cash Home Buyers can help. Call our office or fill out the form on this page today.

Give us a call at (774) 450-0086 anytime
or fill out the form over here today! >>

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