Foreclosure Prevention: Selling Routes to Avoid Home Foreclosure
If you're a homeowner who's struggling to keep up with mortgage payments, you may be facing the possibility of foreclosure.
Foreclosure is a legal process in which the lender repossesses the property and auctions it off to pay off the remaining debt. Foreclosure can be devastating because you not only lose your home, but also damage your credit score, limiting your ability to access a home in the future. However, there is something you can do about it: selling your home before the foreclosure process is complete.
While the answer to the question "Can I sell my house to avoid foreclosure?" is yes, it's not as simple as just putting your home on the market. Selling a home is a time-consuming and expensive process, and with a looming foreclosure, time is of the essence. You need to quickly find a buyer who will make the best offer possible and pay in cash to satisfy your lender.
Mar 3, 2025
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