Sell Your Charlotte Home, Avoid Foreclosure

Facing foreclosure in Charlotte NC can be stressful, confusing, and embarrassing. Sometimes circumstances beyond our control create situations we would never have chosen. Do not be embarrassed to ask for help.

Navigating this process can be difficult as it is paperwork intensive. Our realtors know how the process works, and they can help you through.

How Do Foreclosures In NC Work?

Foreclosures in NC can happen via judicial review or a sale directly by the bank. This procedure can happen in as quickly as twenty-one days. When experiencing stress or a crisis of any kind, it is easy to lose track of the days. People dealing with foreclosed homes in Charlotte NC would be advised to brush up on North Carolina law on this matter.

Once you are three months, ninety days behind in your mortgage payments, your lender is authorized to begin foreclosure proceedings. If you think this does not apply to you, pull out the original promissory note and deed of trust, you signed when you purchased the house. If you no longer have a primary mortgage but refinanced it into an equity loan, read the deed of trust for the equity loan.

The best way to stop NC foreclosure when you are behind in your payments is to sell the house. If you prefer taking a risk because you may get that windfall or job in time to catch up, you could lose. Foreclosure homes in Charlotte NC create substantial damage to your credit report that can last for years. The immediate impact is a drop in your credit score. This problem will impact another lending you may need. It can also impact your insurance rates, and in some cases, acquiring a job.

What if My Property Is a Short Sale?

If the liens on your property are a higher value than your home, contact your lender now. Different lenders have different criteria for authorizing a short sale and what documentation they need from the borrower.

The other information you will need to know if your property is a short sale is the difference. It is not uncommon for the bank to turn the shortage into a personal loan and begin collecting attempts. Other times, the bank may accept the short sale and forgive the debt. That is dependent on many factors, one being whether they consider the short sale in front of them a better bet than trying to sell through a NC foreclosure. Either way, get in contact with your bank. When you are in collections, the bank is more cooperative with a communicative customer who expresses an active desire to solve it.

Loan Modification
Being behind in your mortgage payments can feel like an insurmountable problem. Take a deep breath, do meditation, go for a run. Do whatever you need to do to be calm, and then ask for help. At Maverick Property Group, we understand hardships, and we want to help.

If You Need More Information About Saving Your House From Foreclosure Please Contact Us

We have worked with many clients facing foreclosure and we are happy to help you by sharing our expert advise. Feel free to call us today.


Call: (704) 614-6699

Recent Blog Post

Hidden Costs Home Sellers Face In Charlotte, NC

Hidden Costs Home Sellers Face In Charlotte, NC

In the bustling real estate market of Charlotte, NC, various hidden costs can often surprise home sellers and significantly impact their net profits. These costs, which range from pre-sale inspections and necessary repairs, to home staging, marketing, closing costs,...

Tips for Selling Your Multi-Family Property in Charlotte, NC

Tips for Selling Your Multi-Family Property in Charlotte, NC

Entering the real estate market to sell a multi-family property in Charlotte, North Carolina can be a complex process. This guide aims to simplify the journey with practical tips and insightful strategies. Dive into understanding Charlotte’s unique real estate...

How To Sell Your House Quickly In A Divorce in Charlotte, NC

How To Sell Your House Quickly In A Divorce in Charlotte, NC

Divorce can be a challenging process, often complicated by the need to quickly sell shared property. In Charlotte, NC, navigating the local real estate market under such circumstances requires careful planning and strategic decision-making. Preparation of the property...


No Fees. No Commissions. Put More Cash In Your Pocket!

Fill out the short form: