I’m facing foreclosure in Dallas. It’s very embarrassing, even though I’ve discovered that several people I know have experienced a foreclosure in the past. It’s not an uncommon problem when we get behind on our mortgage payments.
Foreclosure means the loss of my home and all the equity I’ve accumulated in the house. In my case, that’s tens of thousands of dollars I will lose if I lose the house. My only alternative is to sell my house and pay my mortgage lender from the proceeds of the sale, so that’s what I am considering now.
Until the property is sold at auction in the foreclosure process, I am entitled to sell it, because I am the legal owner. Title won’t transfer to the new owner until the mortgage loan is repaid in full, so the mortgage payoff money comes out of the buyer’s money at closing. Other back taxes, liens and unpaid fees will also be deducted before the balance of the proceeds are paid to me.
Some desperate sellers put up additional cash if their closing costs exceed the proceeds of the sale. I don’t plan to put in additional money to get by house sold.
SELLING A HOUSE IN DALLAS BEFORE FORECLOSURE
Deciding whether to sell my home is less difficult than deciding how to sell it. Paying a real estate commission is not going to work in this situation, which means I need to consider selling my house by owner.
I could post it on Dallas craigslist and hold an open house. But the truth is, I need a buyer right away. Craigslist and other advertising platforms, online and offline, could take weeks or months to attract a qualified, interested buyer. I need a buyer right away, or as they say… I need a buyer yesterday.
One way to get a qualified, interested home buyer on the phone immediately is to call We Pay Fast at 405-521-1807 or to email [email protected] We Pay Fast has a team of professional buyers who purchase homes for cash, all over the country. They are familiar with the foreclosure process, and they understand my need to get my lender paid off and to get my cash equity quickly.
We Pay Fast pays me cash within a week to ten pays from our sales agreement, which sounds great since I’m facing foreclosure.