Do you have a Little Rock Arkansas house that’s in
foreclosure processes right now? Many people going through
the Arkansas 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,
but not a lot more complicated, but usually you can sell your property
prior to foreclosure. Generally, the sooner you start, the better.
In fact, many people going through the foreclosure process think the
bank already owns the property after they file the Notice of Default with
the county courthouse, but this is not true. Until that auction takes place,
you are still the owner and legally the only person who has the legal right
to sell the property. We have helped many people in this same situation
stop their foreclosure and save their credit from showing a mortgage
foreclosure on their credit report.
Can I Sell My House in Foreclosure
in Little Rock? – How it works
There are a lot of folks in Little Rock, and the surrounding cities, who
have faced foreclosure in the past few years and it appears like the
number of people are increasing now every month. Since the changes in
the economy, a lot of banks have been shifting the way that they deal
with foreclosures. Some banks are easier to deal with but some banks
are getting tougher and shortening the process so they can recover their
Remember, the bank that carries your mortgage doesn’t want to see
your home abandoned or auctioned if they can avoid it. The bank stands
to make the most amount of money by helping you
to avoid foreclosure by modifying the loan or letting you sell 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 for hundreds of people, we’ve learned
a few tricks that will help you.
Working With Banks During The
- 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. Remember though, they are logging everything you say
in your file on your loan.
- Don’t miss deadlines. If anything will be late, call with advance
- 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, the date and time of your
conversations, what they said, and any promises made. Also keep a
file for any written communications from them. Banks make mistakes
- Explore all your options, including a 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
- Don’t wait. Unfortunately, time is not on your side. In Arkansas the
foreclosure process can take as little as two months. The further
behind you become on payments, the fewer options are available to
you. If you start earlier when you first look like you are going to miss a
payment we have a much better chance of helping you out of the
foreclosure process or finding other solutions.
If you’re looking to sell your Little Rock house in
foreclosure fast, call us now.
We specialize in helping homeowners in situations including
foreclosure around Little Rock and the whole state of Arkansas
get out of difficult situations and avoid foreclosure. In certain
circumstances, we can negotiate directly with the bank to reduce
the amount you owe and (sometimes) even help you walk away from
your property with cash.
If you need to sell a property near Little Rock, we can help you.
We buy properties like yours from people who need to sell fast. We are
POPS – Property Owner, Problem Solvers.
Let us help you today and remember, Everything we talk about is
Give us a call at 501-504-7109 anytime
or fill out the form over here today! >>