Do you have a home in Montreal, Quebec that is in foreclosure right now? Many people going through the foreclosure process in Quebec want to get away from this burdensome home, and are wondering if they can sell it. Visit the short answer is: yes. The long answer foreclosure: it’s a little more complicated, but you can usually sell your property before it goes into foreclosure. In general, the sooner you start, the better.
Can I sell my home during a foreclosure in Montreal? – How it works
Many Montrealers have had to face foreclosure on their property in recent years. Due to certain changes in the economy, many banks have changed the way they handle finance repossessions.
Don’t forget that the bank granting you a mortgage loan
doesn’t want your home to be abandoned or auctioned off.
. It will help you avoid foreclosure by selling your property. However, dealing with a bank at any stage of the foreclosure process can be a real pain. In our many years of working with banks to help stop foreclosures that have already begun, we’ve learned a few tricks that may help you.
Working with banks during the foreclosure process
- Always communicate too much with the bank (but don’t be intrusive). Call them to update them and show them what you’re doing to sell your property.
- Don’t miss any deadlines. If you anticipate a delay, call and notify your bank in advance.
- Remember that bankers are people too. Don’t be too dramatic. Instead, explain your situation and show that you’re willing to work through any problems to remedy them. It’s a good way of getting things done.
- Start carefully recording information about every conversation you have with the bank. Nothing has value unless it’s written down. Be sure to write down the name of each person you spoke with, what they said and any promises they made.
- Explore all your options, including short selling, loan modification and bankruptcy. Depending on the details of your personal situation, you may be able to slow down the entry process considerably if you put enough effort into it. Each bank has its own policies to help borrowers avoid foreclosure.
- Don’t wait. Unfortunately, time is not on your side. The further behind you are in your payments, the fewer options you’ll have to get by.
If you’re looking to sell your Montreal home fast , call us now.
We specialize in helping homeowners in situations such as foreclosure in Montreal and throughout the province of Quebec to get out of difficult situations and to
foreclosure
. In some cases, we can negotiate directly with the bank to reduce the amount you owe and (sometimes) even help you leave your property with cash in hand.
If you need to sell a property near Montreal, we can help.
We buy properties like yours from people who need to sell quickly.
