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If my house is being foreclosed, is it too late to sell it?

House is foreclosing, trying to save my credit and pay off my mortgage. If I'm already this far along, can I stop the foreclosure process and come out ahead in this or am I wasting my time? I'll delay the foreclosure process with a delay of sale if it'll do any good by EGKreu_638_894 from Fort Myers, Florida. Jul 30th 2012 Reply


Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

How far along in foreclosure are you?

Jul 30th 2012
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Mortgage Rate PA (MortgageRatePA.com)
#29 ranked lender in Pennsylvania - 6 contributions

There is always time to try to save your home. If you have not already contacted a real estate agent who specializes in dealing with the banks. DO IT NOW!!! Also just as important contact a real estate attorney as well. They may be able to give you some time delaying techniques to save the home. Communication is key to helping any situation the bank would prefer to work with you then go through a foreclosure. Document your conversations as well. Keep detailed records of who and when and what was said. Your credit most likely was already dinged big time. But I have seen banks be creative to helping people with good real estate lawyers. Good Luck.Mortgage Rate PA.

Jul 30th 2012
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Travis Torcoletti (travis.torcoletti)
#0 ranked lender in South Carolina - 372 contributions

I don't understand...you are in active foreclosure and you want to "save your credit and pay off the mortgage"? You can try to sell it but I'd say you are not going to save your credit because you must have missed a minimum of 6 payments by now to be in foreclosure plus, one a Lis Pendens is issued against you (the legal act of foreclosure) that becomes public record and damages your credit too. You better get a real estate agent to list it and begin discussions with your lender to let them know you are trying to sell it but they are not going to stop the foreclosure process if it has already begun. You can't wait until the last minute to act and expect your lender to help you, the time for action was when you missed your first payment.

Jul 30th 2012
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Ron Sadaka (Ron Sadaka)
#9 ranked lender in Florida - 8 contributions

A few things we need to know. 1. What is the house worth (assuming a 30 to 60-day sale), 2. What do you owe the bank? 3. Have they obtained a summary judgment yet - Is there a sale date scheduled? 4. Have you put it on the market or received any offers? If it's going to be a short-sale (selling for less than you owe), there are certain complications to deal with, mainly time to obtain approval of your contract from the bank. Either way, it's a good idea to pursue a HAFA short-sale if there's time. The lender will release you from liability for any deficiency between the sale price and the loan amount due. Not so if you're foreclosed.

Jul 30th 2012
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Gary H (Mod.Specialist)
#71 ranked lender in New York - 25 contributions

Judicial states require the lender to go through the courts system before your home is foreclosed upon. However in non-judicial states the time is much shorter. See your in Florida, you may have time since your state is Judicial. As far as your credit (which is not a priority) - it is already damaged because you have 3 or more mortgage lates, possibly a foreclosure-initiated listed on the report. Time and on-time payments will only heal your report. If you need to speak to someone about the entire process, to see were you stand, contact me.

Jul 30th 2012
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Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions

A SHORT SALE , thru a realtor will not save your house. Most banks are wise to this.. THERE are a few things that you can do, and if you email me at yourloanpartnerforlife@live.com i can guide you thru the process.. i just need to know when your sale date is ... linda i have worked in numerous banks in the loss mitigation dept, so I know how things are handled

Jul 30th 2012
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Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions

please contact me i have some suggestions for you... linda 602-330-1598 yourloanpartnerforlife@live.com

Jul 30th 2012
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