How To Avoid The Foreclosure of Your Greenville House

Tips to avoid the foreclosure of your Greenville house

If you are behind on your mortgage, you might be thinking about what to do to avoid the foreclosure of your Greenville house. We can help with these tips!

Negotiate With The Bank

When you have missed a few payments your first step might be to call your lender and discuss your available options. After all, they want to see the return on their investment, they don’t benefit when you default on your loan. Often times you will be able to negotiate a repayment plan to get caught up on what you own. So, before you pack your bags and sneak out in the middle of the night, you must call your lender and who knows, you might be surprised at what they will do to work with you. Lenders, usually do not want your house instead they will try to offer some options that might help you in difficult financial times.

Short Sale

A short sale occurs when the lender agrees to sell the house for less than what is currently owed on it. This happens if a home is purchased at a high price, only to lose value over time. If the owner gets behind on payments, they might find themselves in a place Tips to avoid the foreclosure of your Greenville housewhere they owe more than the home is worth. Lenders will often agree to a short sale when they see this as a means of recouping most of their costs, while not having to deal with the foreclosure process. When a sale amount is agreed upon with the lender and a buyer comes through, the mortgage lender will consider the loan paid in full.

Sell Your House

Maybe you simply want to put an end to a difficult situation. The house may no longer be affordable for you, and that is ok! Things change whether it be a job loss, people moving in or out, an illness, new addition, education costs and so much more. There are all kinds of things that happen in life that might change your ability to pay back your loan. There is no shame in this, however, you should work on finding a solution that works!

If you decide to sell your house in the traditional sense, without negotiating a short sale with the lender, there are two main ways you can go. The first would be to put your house on the MLS with a Greenville agent. The second would be to sell your house directly to a private buyer in a short amount of time without any additional costs to you.

Listing

Depending on where you stand financially, this may or may not be a wise option. Listing your Greenville house can take months, and if your agent isn’t working with the urgency they should be, you might find yourself losing your house to the bank because your agent wasn’t able to find a buyer in time. In addition, you will have to deal with out of pocket costs that may be difficult to pay if you are struggling financially. If your mortgage is behind, it is highly likely that you haven’t been able to keep up with the maintenance on the home either. For a listing to be successful, you will need to get the house into the best shape you can.

Selling Directly

A direct sale is a preferred choice for many people who are facing foreclosure. Not all buyers are the same. When you choose to sell your Greenville house to Greenville Home Buyers, you can rest assured you will receive a fair price and a fast closing. We understand that difficult financial situations can happen to anyone at any time. We have all been there, there is no shame in it! Let us help you with a fast and fair sell of your Greenville house! And if you have made up your mind to sell your house, contact GreenvilleHomeBuyers at (864) 991-3275 to learn more about our process and get more chance to receive our best Fair Offer today.

Are you ready to sell a Greenville house? We can help! Send us a message or give us a call today! (864) 991-3275

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