Do you have a Portland Oregon house that’s in foreclosure right now? Many people going through the Oregon foreclosure process want to get out from under that burdensome house and wonder if they can sell the house in foreclosure. The short answer: yes. The long answer: it’s a little more complicated, but usually you can sell your property prior to foreclosure. Generally, the sooner you start, the better.
Selling Your Portland House In Foreclosure – How it works
There are a lot of folks in Portland 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. Remember, 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 by selling your property. However, dealing with banks during any part of the foreclosure process can be a huge pain. Over many years of working with banks to help stop the foreclosure process, we’ve learned a few tricks that will help you.
Working With Banks During The Foreclosure Process
- Always over-communicate with the bank (but don’t be annoying). Call with updates and show them what you’re doing to get your property sold.
- Don’t miss deadlines. If anything will be late, call with advance notice.
- Remember that bankers are people too. Don’t be overly dramatic, but explaining your situation and demonstrating your willingness to fix the problems to make it right goes a long way.
- Start keeping careful records of every conversation you have with the bank. Nothing counts unless it is in writing. Make sure to keep track of each person you speak with, what they said, and any promises made.
- Explore all your options, including short 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.
- Don’t wait. Unfortunately, time is not on your side. The further behind you become on payments, the less options are available to you.
The AppleTree Group LLC Can Help You
We specialize in helping homeowners in undesirable situations, including foreclosure. We provide a fee ebook How to Stop and Avoid Foreclosure in Today’s Market which can be found here. Many of these tips can be found elsewhere. Some other sources of information we like are:
- The Foreclosure Survival Guide, Keep Your House or Walk Away with Money in Your Pocket, 5th Edition, by attorneys Stephen Elias and Amy Loftsgordon, published by NOLO, 2015.
- Stop or Stall Your Foreclosure, What the Big Banks Don’t Want You to Know, edited by Jay Johnson, published by WoodDuck E-book Publishing, 2012.
In addition, we found the following books provided emotional support from people who have been there.
- The Great American Foreclosure Story, The Struggle for Justice and a Place to Call Home, by Paul Kiel, published by ProPublica, 2012.
- The Broke Man’s Survival Guide, by A. M. Harris, published by AMHAR Publications, 2016.
Each of the above referenced are available as ebooks for a nominal fee from Amazon.
If you need to sell a property near Portland, we can help you. We buy properties like yours from people who need to sell fast.
Give us a call at (971) 246-7954 anytime
or fill out the form over here today! >>
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