“I would like to short sale my house. However, the foreclosure has already started. I don’t know how soon the bank is going to come and kick me out.
Can I still short sale? Or, is it to late? Dave.”
Here is the answer to his Question. Dave, yes you can still short sale your house. It does depend on how far along you are in the foreclosure process.
You have to remember that the foreclosure process can take a long time. We have seen foreclosure court cases drag out for 2-3 years.
In one rare case Patsi Campbell, a homeowner in Florida, had a foreclosure drag out for 25 years. However, that is a fluke.
The Wall Street Journal gives us a better perspective:
“Ms. Campbell’s foreclosure case has outlasted two marriages, three recessions and four presidents. She has seen seven great-grandchildren born, plum real-estate markets come and go and the ownership of her mortgage change six times.”
The good news is that you can short sale your house, even if the foreclosure has already started. An experienced short sale agent can tell you for certain if you have enough time or not.
You may have more time than you think. Average foreclosure timeline has double and tripled. The foreclosure court system is overloaded and can’t handle the avalanche of files coming their way.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (281) 602-8050
Thinking about a loan modification? Our Houston loan modification kit has the instructions you will need to get a loan modification approved with your bank. Thanks for reading this, Alice Monroe.
Alice is a Real Estate Agent at Corali Realty.
View My homes for sale at www.coralirealty.com.
Alice Monroe specializes in loan modification assistance and short sales in Houston Texas. Houston Loan Modification Help, Houston Short Sales. Houston Short Sale Realtor. Houston TX Short Sales. Houston Realtor.
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Alice Monroe, Corali Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Alice’s personal views and do not reflect the views of Corali Realty.
This information on Houston Short Sale Question: Can I Short Sale If My House Is Already In Foreclosure? is provided as a courtesy to our viewers to help them make informed decisions.