Selling Home Before Foreclosure

Summary

You can sell your home before foreclosure in Pennsylvania through a pre-foreclosure sale. If the sale proceeds dont cover the mortgage, consider a short sale. Consult a real estate attorney for personalized advice. Selling your home before foreclosure can stop the process if the sale covers the outstanding mortgage balance or if your lender agrees to a short sale.

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My home is going into foreclosure can I sell it before that happens?
Depending on your location, generally:
- You can sell your home before foreclosure if you can find a buyer
- The sale proceeds must cover the outstanding mortgage balance
- If not, consider a 'short sale'
Can you please provide your location for more specific advice?
Fairfield, Pa. *
In Pennsylvania:
- You can sell your home before foreclosure, which is known as pre-foreclosure sale.
- If sale proceeds don't cover the mortgage, you can consider a short sale.
- Consult a real estate attorney for personalized advice.
Will this prevent foreclosure?
Yes, selling your home before foreclosure, or pre-foreclosure sale, can potentially stop the foreclosure process if:
- The sale covers the outstanding mortgage balance.
- Your lender agrees to a short sale if proceeds don't cover the balance. This may depend on various factors including your financial hardship.