If you’re facing the possibility of foreclosure in the future, perhaps you are wondering can you get your condo in Orange County 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 condo back.
Instead of wondering can you get your condo in Orange County 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 home 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 condo before the home is foreclosed upon and pay the lender what is owed to them.
While not an ideal option (because you’d have to give up your home), 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 condo in exchange for the long-term benefit of a better credit rating.
Here’s a secret to selling your Orange County area condo fast so the bank can’t take it
You could work at trying to find a buyer to take your condo. However, a faster and easier option is to find an investment firm that buys condos 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 Fast Condo Buyers will buy the condo from you at a reduced price, and very quickly.