No, it is not advisable to sell your house before the foreclosure takes place. If you miss your mortgage payments, you will still have to face foreclosure. You should not disregard the letters from your lender and stay in your home before the foreclosure takes place. The reason for this is that you may not qualify for assistance if you sell off your property. You must contact a housing counselling agency which has been approved by the HUC. They can be contacted on their helpline number.
You can consider the following alternatives to selling off your house in case of forbearance. You can consider the options of special forbearance, the modification of the mortgage, partial claim, the sale of the property before the foreclosure and property deed in lieu of the foreclosure. You can qualify for the pre-foreclosure sale only in case the loan is at least two months delinquent, you are able to sell your property within a period of between three and five months and a new appraisal shows that the worth of your property meets the guidelines which have been specified by the HUD program.
You can consider the following alternatives to selling off your house in case of forbearance. You can consider the options of special forbearance, the modification of the mortgage, partial claim, the sale of the property before the foreclosure and property deed in lieu of the foreclosure. You can qualify for the pre-foreclosure sale only in case the loan is at least two months delinquent, you are able to sell your property within a period of between three and five months and a new appraisal shows that the worth of your property meets the guidelines which have been specified by the HUD program.
