If you’re behind in payments and facing foreclosure in the near future, perhaps you are wondering can you get your house in McAllen back after foreclosure. After all, you need a place to live!
Unfortunately, after the court rules in the favor of your lender and agrees with the lender to proceed with foreclosure, it is very hard for you to get your house back.
Instead of wondering can you get your house in McAllen back after foreclosure, here’s another option…
The good news is, if you’re not in foreclosure yet, you have some options.
The best option is to pay off your mortgage or work out a payment plan with the lender. The bank will rather keep you in your house and keep collecting payments.
If that’s not an option for you at the present time, then you may decide to do what a lot of homeowners facing foreclosure are choosing to do: Sell your home before the home is foreclosed upon and pay the lender what is owed to them.
While not an ideal option (because you’ll have to give up your house), it’s still a preferable option to foreclosure because you’ll have cleared up your debt to the bank and you won’t have a long term negative impact on your credit score.
This option is proactive and long-term, which is why homeowners facing foreclosure go with it: it’s proactive because you’re taking control of your financial situation; it’s long-term because you’re accepting the short-term discomfort of selling your home in exchange for the long-term benefit of keeping a better credit rating.
Here’s a secret to selling your McAllen area home fast so the bank can’t take it
You could work at trying to find a buyer for your house on your own or using a realtor. However, a faster and easier option is to find an investment firm that buys houses as-is for cash, fast. Instead of spending all of your time and energy trying to locate a buyer, there are many companies that can do this for you. Companies like Dolfin RGV will buy your Hidalgo County house from you at a reduced price, and very quickly.