Do you have a Vancouver B.C. British Columbia house that’s in pre-foreclosure right now? Many people going through the British Columbia pre-foreclosure process want to get out from under that burdensome property and wonder if they can sell the house before it goes into full foreclosure. The short answer: yes. The long answer: it can be complicated, but usually you can sell your property before it goes into foreclosure. Generally, the sooner you start addressing the situation, the better.
Selling Your Vancouver B.C. House In Foreclosure – How it can work
There are a number of people in Vancouver B.C. 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.
Keep in mind, the bank that carries your mortgage doesn’t want to see your home abandoned or auctioned. The bank stands to make the most amount of money by helping you to avoid foreclosure and successfully complete your mortgage. However, dealing with banks during any part of the foreclosure process can be an inconvenience in many cases. We’ll give you a few points to consider though that can help the process go as smoothly as possible.
Working With Banks During The Foreclosure Process
- Always over-communicate with the bank (but be polite). Call with updates and show them what you’re doing to find a solution to your problem.
- Don’t miss deadlines. If you think you’re gong to be late with any part of the process, call with advance notice.
- Remember that bankers are people too. Don’t be overly dramatic, but explaining your situation and demonstrating your willingness to address the problems to make it right will go a long way.
- Start keeping careful records of every conversation you have with the bank, both on the phone and via email. It’s in your best interest to keep detailed notes of each person you speak with, what they said, and any promises or direction given.
- Explore all your options, including an immediate 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 and should be willing to help their clients.
- Don’t wait. Unfortunately, time is not on your side in cases like this. The further behind you become on payments, fewer options will be available to you.
If you’re looking to sell your Vancouver B.C. house in foreclosure fast, call us now.
We specialize in helping homeowners that are facing difficult situations including pre-foreclosure around Vancouver B.C. and the whole province of British Columbia We will do our very best to come up with a win-win solution for your unique situation
If you’re having trouble selling a property or are facing foreclosure near Vancouver B.C. , we can help you.
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