Do you have a house around Savannah Georgia and you’re wondering “can I sell my house in foreclosure” right now? You’re not alone, many people are also going through the Georgia foreclosure process and want to get rid of all the stress by exploring if they can sell their house in foreclosure in Savannah. The short answer: yes. The long answer: it could get complicated, but you can usually sell your house prior to foreclosure. The general rule is the sooner you start, the better it is for you, and the easier the process.
Can I Sell My House in Foreclosure in Savannah? – How it works
There are a lot of homeowners around Savannah who have faced foreclosure in the past few years. Job changes, economic changes, pandemics, you name it, they have all changed the way banks and mortgage lenders deal with house foreclosures. It is important to remember that the bank that loaned your mortgage doesn’t want to see your home abandoned or auctioned. The bank is a business and they will 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 complicated at times, and a huge pain. Over many years of working with banks to help stop the foreclosure process, here are a few tricks that will help you in the process.
What is the foreclosure process in Savannah Georgia?
If you find yourself in the foreclosure process, or even the pre-foreclosure process, it is extremely important to know what Georgia law says about the foreclosure process. To put it simply, foreclosure is the name of the legal process that lenders use to take back property, generally, after the borrower stops making their mortgage payments.
6 Tips When Working With Banks During The Foreclosure Process
1- Always over-communicate with the bank
Call the bank regularly with updates and show them what you’re doing to get your property sold. Don’t be annoying and don’t be afraid to call them with any news, including bad news.
2- Don’t miss deadlines
If the bank gives you a deadline or due date, make sure you do everything in your power to make the deadline. If for any reason you will not make it, call the bank and let them know as soon as possible.
3- Remember that bankers are people too
Understand that they constantly work with people who are in the foreclosure process. They have heard every excuse and problem so don’t be overly dramatic, but explain your situation and demonstrate your willingness to fix the problems will go a long way with the representative. They are just doing their job.
4- Start keeping careful records of every conversation
When you talk with the bank, make sure you keep a record of what was said and what was agreed to. If it is not in writing, it does not count. Make sure to keep track of each person you speak with, what they said, and any promises made. Make sure to keep any and all email traffic you have with the bank. You could even go so far as to record phone conversations with the bank. Here is a good article on how to record phone conversations with an iPhone.
5- Explore all your options
This could include a short sale, loan modifications, and/or bankruptcy. The outcome of your foreclosure depends on the details of your personal situation. You may be able to dramatically slow down the foreclosure process with enough effort. Remember that the bank has its own policies to help borrowers avoid foreclosure, they are not in the business of real estate, they are in the business of making money.
6- Don’t wait
Unfortunately, time is not on your side. The further behind you become on payments, the fewer options are available to you. Start to communicate with your bank as soon as you know there may be a problem. The foreclosure process will not go away no matter how much you try and avoid it.
Sell your house quickly in Savannah
If you’re looking to avoid foreclosure by selling your house quickly, give us a call. We will buy houses in any condition around Savannah and we will help work with you to resolve your problem as fast as possible. You can learn more about our program where we will give you cash for your house fast!
We specialize in helping homeowners in difficult situations including foreclosures around Savannah and the whole state of Georgia. In certain circumstances, we can negotiate directly with the bank to reduce the amount you owe and sometimes even help you walk away with cash from selling your house.
If you need to sell a property near Savannah, we can help you.
We buy properties like yours from people who need to sell fast.