Can I Sell My House If I Am Behind on My Mortgage? Yes! Here’s How to Sell Your Charlotte House.

Behind on your mortgage? Wondering if you can still sell your house? The answer is yes, but understand that when you do sell your home the payments you missed will be due and penalties will be associated. 

When families are having financial difficulty, it can be a very stressful time for you and your family, both emotionally and financially. Understand that you’re not alone, there are a great number of families finding themselves in this predicament. Read on to learn how to sell your Charlotte house even if you are behind on your mortgage.

If you are in this situation you can still sell your home, but it is important to understand exactly what this means and how it will affect the money made in the sale.

First, realize that the fees and the penalties that you have to pay are not going to vanish just because you decide to sell the house. You are still responsible for all of the payments that were missed, and you will have to pay for any penalties associated with them. The lenders expect you to provide a full repayment. If you have equity in your home, you may be able to break even or make a small profit on the sale.

Don’t Delay

Should you find yourself among those in this position currently, don’t hesitate, especially if your lender has started communicating that foreclosure is on the horizon, selling your home may be the best option. The time is now to sell your Charlotte house if you are behind on your mortgage. Talk to your lender and let them know the steps you are taking, keeping open lines of communication is important to avoid making errors as you take actions to resolve your problems. Failure to act leads to a complicated foreclosure processes. Don’t fool yourself by believing that this means you will be free of your financial obligations to the lender. And in many cases, there are deficiency judgments, wherein the lender is still legally owed any remaining debt on your mortgage note after the lender receives the foreclosure sale proceeds.

If you find yourself in this situation, do research to see what options you have. A good start is to read the Federal Trade Commissions post on, When Paying the Mortgage is a Struggle. It gives you valuable advise to help you.


How Can You Prepare Your House For Sale

When many people fall behind on their payments and start to worry about the foreclosure process, they tend to neglect maintenance and upkeep on the house. In some cases, people even damage the property out of frustration. If you want to sell the house though, it helps to be in fairly good shape. Most people do not want to buy a property if it has damage and is in need of repair.

Those who want to sell and who are behind on their payments may not have the money to pay for repairs. There are likely a number of small things that you can do to make the property more appealing though. Painting, cleaning, removing clutter, and improving the curb appeal of the house should help you make the house look better when you are showing it to prospective buyers. Also, if possible, have the home staged properly so that it looks inviting.

Selling on Your Own

Undertaking the task of selling your Charlotte house if you are behind on your mortgage may appear to be a money-saving solution, on the surface.  There is a tremendous deal of paperwork and multiple timelines for paperwork submissions involved in selling a piece of Real Estate. Another difficult problem for you will be pricing your home without adding unrealistic value based on your emotional attachment to the property. Prepare for a financial outlay of up to thousands to present your home on the market. Should you successfully sell the home, you need to understand there are legal risks involved. Any major repairs discovered after closing, even if previously unknown, could mean facing legal risks on your own as well.

Real Estate Agent

Listing with an agent is another way to sell your Charlotte house even if you can’t pay your mortgage. Unless your property is in mint condition, repairs, renovations, and upgrades may be required. Real estate agents include a staging strategy at your expense as a part of the overall marketing and advertising budget. In addition to these expenses, you will also be paying commissions and closing costs. When already struggling to stay afloat, their demands may sink you financially before your home ever sells. Remember, in traditional listings, you have no guarantee of if or even when your home will sell..

Selling Directly to Lanier House Buyers

When you are considering selling your Charlotte house if you are behind on your mortgage, selling directly to Lanier House Buyers may be your best option. It is important to consider the advantages of working with us, especially when you have debt looming over your head and you get nearer to the deadline of foreclosure every day. You can be ahead of the lender and the foreclosure process by selling directly before it is too late. No interruptions in your life from showings, no pressure to keep everything spotless at all times. You will not be left under the gun by working with inexperienced buyers, backing out or failing to close. You would have none of the typical expenses of listing a home that you would normally have, including no real estate commissions coming off the top at closing. 

Other benefit to selling your Charlotte House to Lanier House Buyers is we buy As-Is. No need for money to come out of your pocket for any repairs. You won’t have to worry about constantly keeping your house show room ready for showings. We can also close much faster than the typical selling process which will help you put the stress of your financial concerns behind you much faster.

The best way to sell your Charlotte house is to Lanier House Buyers, even if you are behind on your mortgage! Unlike traditional listings, you will have a guaranteed sale, a quick closing date you can rely on to avoid foreclosure. To learn more, send us a message or call 803-935-9085 at any time!


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