If you’re facing the possibility of foreclosure in the future, perhaps you are wondering can you get your house in Dallas 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 Dallas back after foreclosure, here’s another option…
The good news is, if you’re not in foreclosure yet, you have options.
The first and best option is to pay off your mortgage or work out a payment plan with your lender. They’ll prefer to keep you in your house and instead just collect the money owed to them.
If that’s not an option for you at this 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 the long-term impact to your credit score that a foreclosure would have.
This option is proactive and long-term, which is why homeowners facing foreclosure love 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 a better credit rating.
Here’s a secret to selling your Dallas area home fast so the bank can’t take it
If you’re like most people, your home is your biggest asset. So it’s no wonder that you want to get the best possible price for it when you sell. But what if you need to sell fast? Maybe you’re facing foreclosure or you just can’t afford the repairs that your home needs. In cases like these, selling through a traditional real estate agent may not be the best option. That’s where Lumen Homebuyers comes in. We’re a Dallas-based investment firm that buys houses as-is for cash, fast. We’ll take care of all the paperwork and closing costs, and we can even close in as little as 7 days.