Can I sell my house to stop foreclosure?

If you are looking to sell your house to stop foreclosure there are a few steps you will need to take.

1. Determine how much you owe to the bank? This will include late fees and back payments plus lawyers fees.  You can request a payoff amount from your lender that will include all of these fees plus the balance that you owe on your mortgage.

2. Find out how much you can sell your house for. Talk to a local real estate agent or visit online resources such as zillow.com to determine the market value for your house.

3. If you owe less than your house is worth, you may be able to sell your house to stop foreclosure by listing your house with a real estate agent or trying to sell your house by owner.  Also you could contact a we buy houses investor in your area to get a cash offer within a few days.

4. If you owe more than your house is worth, you will need to attempt a short sale.  A short sale is when you sell your house for less than is owed to the bank.  In this case, the bank will need to approve any purchase contracts because they will be losing money in the transaction.  Banks will only accept a short sale if they feel they are going to save money by accepting a short sale instead of completing the foreclosure process.

To sell your house fast and stop the foreclosure, contact a local realtor or investor in your area.  In Arizona, contact your local Arizona short sale experts or Arizona short sale realtors to discuss your foreclosure options.

Related posts:

1. Sell My House and Avoid Foreclosure
2. Underwater on your mortgage, do a short sale
3. Can I sell my house back to the bank?
4. Should I short sale my home?