As Seen on TV in Midland–Odessa, Texas

Can I Sell My Odessa Home In Pre-Foreclosure

Contact Thousand Hills Properties today with help selling your pre-foreclosed home in Odessa. Request a cash offer and sell your home in 7-10 days.

Posted by Thousand Hills Properties on November 22, 2020
Can I Sell My Odessa Home In Pre-Foreclosure

Are you on the brink of foreclosure? Wondering what options you have to avoid foreclosure in Odessa before it’s too late?

Let’s face it. Just the thought of a possible foreclosure can be a paralyzing experience, especially when there’s a family involved. The long term consequences of a foreclosure can have a devastating impact on you, your family, your credit, and your quality of life for years to come. Many homeowners in the Odessa area are facing the threat of foreclosure this year due to health issues, divorce, accidents, or the coronavirus pandemic.

If you’re worried about paying your mortgage and the possibility of foreclosure, you can face this head on and we’ll show you how to sell your Odessa home in pre-foreclosure.

The following article is for research purposes only and is not intended to be legal advice. The laws pertaining to home sales and tax in Texas and the Odessa area are always changing. You should always consult an experienced attorney or real estate professional before taking any action.

What is Pre-Foreclosure?

Pre-foreclosure is the first step in the lengthy foreclosure process. This part of the foreclosure process is intended to give homeowners an option to stay in their home before the actual foreclosure. Consider this your official notice of action before it’s too late to sell your Odessa home.

How Does The Pre-Foreclosure Process Work?

The pre-foreclosure process consists of a few steps, the first of which begins with placing you in default when you miss three or more monthly payments. Your mortgage lender has the right to place your property in foreclosure and sell it if you haven’t been keeping up on monthly payments. However, the foreclosure process is costly for both the homeowner and the lender. So, many mortgage lenders will give Odessa area homeowners a chance to catch up on payments or make other arrangements before placing the property in foreclosure. In most cases, federal law allows homeowners to be more than 120 days delinquent before a foreclosure can begin.

Step 1 – Default

Once you’ve missed a few monthly payments and your lender is no longer confident you can catch up, they will decide to place you in default.

Step 2 – Notice of Default

Next, your lender will send you an official notice of default. The notice of default is a written notification from your lender stating that they will pursue legal action if the debt is not paid within a specified period of time. The lender will also give public notice to the Odessa County Recorder’s office or file a lawsuit with the local courts. This officially begins the pre-foreclosure process and this can last anywhere from three to ten months for most homeowners. This is your final opportunity to contact Thousand Hills Properties for foreclosure help.

Step 3 – Auction

Lastly, it’s important to understand the goal of your mortgage lender. You made an agreement to keep up on monthly payments for your Odessa property and they want to get the money owed to them. If you continue to be delinquent on your payments and fail to take action, your lender will auction off your property or hold a trustee sale. Once the property is sold, you’ll be forced to move out.

Can I sell a Odessa home in pre-foreclosure?

Yes, you can sell your Odessa home in pre-foreclosure and Thousand Hills Properties can help. If you received a notice of default and are facing foreclosure in Odessa, you can sell your home up until the time it’s sold at an auction by your mortgage lender. Thousand Hills Properties can pay you cash for your Odessa home in 7-10 days or less.

When is it too late to sell my Odessa property?

In most states, you can get your home back after foreclosure within a certain period of time. This is called the right of redemption. After a foreclosed home is sold by the mortgage lender, you have an opportunity to pay the person who bought your Odessa home at the foreclosure auction for the full purchase price, plus other costs. So, after the auction or sale, unless you pay the lender all you owe, you no longer own your home  and you can’t sell it.

Sell your Odessa area home in pre-foreclosure

We specialize in helping homeowners in Odessa avoid foreclosure. Request a cash offer, show us your property, and get the cash you need in 7-10 days. We buy Odessa houses in any condition, no repairs fixes, or cleaning necessary. Contact Thousand Hills Properties today with help selling your pre-foreclosed home in Odessa.

Share on facebook
Share on twitter
Share on linkedin

Ready to Sell Your Midland-Odessa Home?

Start the process today! Complete the short form below to begin.
Get Your Cash Offer

Start Below!

Google Verified Review from Jasper

Thousand Hills Properties

Cash Homebuyers in Midland-Odessa
Cergio Torres of Thousand Hills Properties
We are Thousand Hills Properties. We’re a locally owned and operated cash home buying company that focuses on helping local homeowners, like you, find solutions to sell your house fast. Have you been asking yourself, how can I sell my house fast in Midland, Texas? or how can I get cash for my house in Odessa, Texas? Well you’ve come to the right place!
We buy houses for cash all over the Midland-Odessa metro area. Old houses or New houses. Foreclosure homes or probate properties. It doesn’t matter. Get a cash offer for your house in one day or less.