If you are facing the possibility of foreclosure, perhaps you are wondering if you can get your house in Los Angeles back after the foreclosure process. After all, you need a place to live, right?
Unfortunately, after a court ruling in the favor of your lender and allows the lender to proceed with foreclosure, it is very difficult for you to get your house back.
Instead of wondering whether you can get your house in Los Angeles 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 would certainly prefer to keep you in your house and instead just collect the money owed to them and go through the court process.
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 bank 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 pain of selling your home in exchange for the long-term benefit of a better credit rating.
Here’s a secret to selling your Los Angeles area house fast so the bank can’t foreclose.
You could work at trying to find a buyer to take your home. However, a faster and easier option is to find an investment firm that buys houses as-is for cash, fast. Instead of spending all of your time and energy trying to locate a buyer, there are many companies that can do this for you. Companies like Hyams Investments will buy the house from you at a reduced price, and very quickly.