Stopping A Foreclosure: Should You Sell Your San Antonio Home or Not?

Posted by Jeniffer Rodriguez on May 08, 2015
Foreclosure Counseling

Here at, we are often asked by motivated home owners that are trying to avoid foreclosure, whether or not they should just try to list their house with a Realtor in order to get it sold, or just let it go and let the bank take any remaining equity that they may still have?

Although the answer may seem like a simple one, we wanted to give our thoughts on this question on our site, so that in the future, people that are facing foreclosure that still have some remaining equity, can have a resource to go to.

Before You Sell: Have you Exhausted All Of Your Options?

How they sold their San Antonio house for cash

After receiving countless phone calls and having been bombarded with letters, both certified and otherwise, by your lender, you may fell like selling is your only option.  For some, that’s true, but for others, it’s important not to make a rash decision based on emotion during a stressful financial situation like “potentially loosing your home & any hard earned equity that you may have built over the years”.  But if you’ve already explored all of your options with your lender, including a forbearance and even looked at doing a short sale, but the sale date is right around the corner, what other options do you have?  Have you considered?

  • Getting a small loan from your family to pay the amount you are in arrears to your lender in order to bring the loan current?
  • Consulting with experienced property buyers that have been in the distressed real estate investing business for many years?
  • Trying to obtain or have your spouse obtain a personal loan from a different bank to pay the arrears?
  • Tried to do an FHA Streamline Refinance?
  • Considered renting the house out until you can pay off the total back due interest to your lender?

This isn’t a full list of options, we’re just trying to get the wheels spinning and get your creative juices flowing to see if there is still a way out of the Foreclosure sale.

Before You Sell: Have You Consulted With A Good Attorney?

As obvious as it may seem, most individuals that own single-family residential homes and have had a Lis Pendens filed by the lender (which is a LEGAL law-suit filed against real estate) still prefer not to at least entertain the thought of getting an opinion from an attorney.  But why not?  Attorneys that are competent in Real Estate Law and have years of experience stopping or at least pausing foreclosures, could surely shed some light on your situation.  What do you have to loose but your home?  A few hundred dollars or even a free consultation by a good/reliable attorney may be able to help you.

If You Sell: What Is the Best Way To Cash Out of Your Equity Quickly?

Most owners, even the most savvy, think that listing their house with a licensed Realtor or an experience real estate agent/broker will net them the most about of money in the least amount of time in the sale of their home.  They assume that agents have pools of buyers just waiting to snatch up their house, just because they posses a real estate license and have paid their dues.  Not the case.  Actually selling your house when foreclosure is imminent means that you have a strict timeline to move the house.   If you listed the house on the MLS, you “may” find a cash buyer within the first few weeks, BUT, you are leaving your future and your equity to chance by taking that route.

But, what if you were able to find your own investor that is seasoned in buying houses in your city, that has the cash on hand to close without inspections?  If you’re located in the Lone Star State, and you’re looking for the best way to sell your house for cash in Texas, you’re in luck, cause in that state, there are many experienced real estate investment companies that are ready, willing, and able cash home buyers.  If you decided to go that route, you could have your house sold within merely days, not weeks…It’s possible that you wouldn’t even need to postpone foreclosure, cause you’re mortgage lien would be paid off before the sale, if you timed it just right.

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