Selling a house when you are behind on payments
Behind on the mortgage is stressful. Here is how a sale fits in, and who else to talk to.
Can I sell my house if I'm behind on my mortgage?
Yes. You still own the house, so you can sell it. If it sells for more than you owe, that difference is yours. Selling before the sheriff's sale is an option among several. Talk to a Minnesota attorney or a HUD-approved housing counselor about the others.
How does foreclosure work in Minnesota?
Most Minnesota foreclosures are done by advertisement, which means out of court. The lender publishes a notice, and the house is sold at a sheriff's sale. After that, there is usually a redemption period set by law. A Minnesota attorney can tell you the dates that apply to your loan.
What if the house is worth less than I owe?
Then a normal sale may not cover the loan, and your lender would need to agree to anything short of full payoff. That is where talking to your attorney matters most. If there is some equity, even a little, a direct sale can sometimes work.
Do I need to fix anything before selling?
No. We buy as-is. After a walkthrough you get a fair written offer, and you pick the closing date. Nothing needs to be cleaned, repaired or staged, and there are no commissions or fees to us.
Who should I talk to besides a buyer?
A Minnesota attorney, and a HUD-approved housing counselor, who is often free to talk to. Be careful with anyone who promises to fix everything for a fee up front. Minnesota has rules about foreclosure-rescue claims for a reason.
Want to know what we would pay?
Tell us the address and the situation. It costs nothing and you are never obligated to take the number.
Get my cash offerOther situations we buy in
We buy in Minneapolis, Chaska, Bloomington, Brooklyn Park, Brooklyn Center, Burnsville, Columbia Heights, Carver, Crystal, Eden Prairie, Fridley, Minnetonka, New Hope, Robbinsdale, Richfield, Savage, Shakopee, South Saint Paul, Waconia, Watertown, West Saint Paul.