Do you have a Myrtle Beach SC house that’s in foreclosure right now? There are many people just like you, going through the SC foreclosure process, so you are not alone! And most people want the same thing, to get out from under that burdensome house. But they 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. Do not wait until the last minute. Start the dialogue with your bank immediately, and let them know you are exploring your options and being proactive about this situation.
Can I Sell My House in Foreclosure in Myrtle Beach? – How it works
There are a lot of folks in Myrtle Beach 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.
At the end of the day, the bank that holds your mortgage really does want you to keep your house. If that’s not possible, then most of the time they will work with you, and be more than accommodating if you can find a buyer to purchase your home before it heads to auction. Don’t feel nervous or embarrassed about speaking to the bank. They deal with situations just like yours all the time.
Remember, the bank that holds your mortgage does NOT want to see your home abandoned or auctioned. The bank, first and foremost, never wants to lose money. So it is usually in their best interest to help you avoid foreclosure by selling your property. However, we understand that for you, dealing with the bank during any part of the foreclosure process can be extremely stressful. We’re sure you’re feeling overwhelmed right now, and this is most likely your first time ever going through a foreclosure process. 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
- Stay in regular communication with the bank. Call with updates and show them what you’re doing to get your property sold. They want to see progress and they want you to be proactive.
- Keep detailed 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, any promises made, and the date the conversation took place. And always ask for a follow-up email so it’s in writing.
- Don’t miss deadlines. If you show the bank that you are taking this process seriously, then they will take you seriously. If anything will be late, call with advance notice.
- Remember that bankers are people too. The people on the other end of the phone also have homes and families. They understand how tough it can be nowadays to survive financially. 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. They can empathize with you to a certain extent, but they still have bank guidelines to follow.
- 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. In this situation, you should explore your options as soon as possible. If taken care soon enough, and depending on your situation, you may be able to get this problem solved without it greatly affecting your financials or credit score. You can even walk away with cash in your pocket!
We specialize in helping homeowners in situations including foreclosure around Myrtle Beach and the whole state of SC 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 Myrtle Beach, we can help you.
We simplify the house selling process…check out our testimonials here.
We buy properties like yours from people who need to sell fast.