Do you live in Calgary Alberta and have a house that’s in foreclosure? Not sure where to go from here? There are a lot of people going through the Alberta foreclosure process right now, and want to do everything they can to get out from under the debt of that burdensome house. One question remains, can I sell my Calgary house in foreclosure?. The short answer is yes. The long answer is that as always, it is a little more complicated. Generally speaking the sooner you start the process the better. But to answer the questions “can i sell my calgary house in foreclosure” is yes!
Can I Sell My House in Foreclosure in Calgary? – How it works
There are a lot of people in Calgary who have faced foreclosure in the past few years. The main reason is, of course, rising interest rates. Other things such as job loss, medical bills, or divorce expense can also cause people to get dangerously behind on their payments. As the economic landscape has shifted a lot of banks have been changed the way that they deal with foreclosures. It’s important to note that the bank holding your mortgage prefers NOT to see your property abandoned or sold at auction. Banks stand to benefit the most from assisting you in preventing foreclosure through the sale of your home. Navigating the complexities of dealing with banks during the foreclosure process can be challenging. Through our extensive experience in working with banks to halt foreclosures, we’ve acquired valuable insights to help you effectively.
Working With Banks During The Foreclosure Process
- Communicate effectively. Call with updates and show them what you’re doing to get your property sold. Take a proactive approach that shows you are trying to solve the problem.
- Never miss a deadline. If it is unavoidable then be sure to call and let them know in advance of the cut off date.
- Remember you are dealing with another person. Take a matter of fact approach, avoid any dramatic details, and explain your situation. You need to demonstrate that you are willing to fix the issue. This attitude and effort will go a long way.
- Keep accurate records of communication with the bank. From the beginning be sure to keep detailed records of each conversation you have. Include details such as the individual you spoke with, what was discussed, and any promises made (from both sides.) The bottom line with this one… Nothing counts unless it is in writing.
- Explore all your options. It differs at each bank as they all have different policies to help borrowers avoid the pitfall o foreclosure. So start by speaking with your lender. It depends on your personal situation but you might be able to dramatically slow down the process of foreclosure and give yourself a chance to get back on track. This will almost certainly include a change in lifestyle and a lot of effort, but it is possible.
- Start now! No matter how you look at it, the clock is ticking. Time is most certainly not on your side. The more payments you miss, the deeper the hole gets. Act now to make sure you maximize the amount of options that are available to you.
If you’re looking to sell your Calgary house in foreclosure fast, call us now. At Northgate House Buyers we are experts in buying houses quickly. If that is the best solution to your problem… we can help!
Our team specializes in assisting homeowners facing foreclosure in Calgary and throughout the entire state of Alberta to navigate challenging situations and avoid foreclosure. We have the expertise to engage in direct negotiations with the bank to potentially decrease your outstanding balance and in some cases, facilitate a cash offer for your property.
If you need to sell a property near Calgary, we can help you.
We buy properties like yours from people who need to sell fast.