Before foreclosure on a house with a number of liens exceeding the buyer's offer Can you as the former homeowner sell it to prevent it going into foreclosure?

[Edit]

You can sell the house, but you are still on the hook for the remaining amount of money. And the banks may not want to allow the transfer, because they wish to have the property secure the loan balance outstanding.

A purchaser wouldn't like to buy such a piece of property, because the danger of foreclosure at the sale might still exist.


==Answer==


Without paying the liens, you cannot provide clear title to the property. Most lenders will not lend on a house that is being foreclosed upon. You may be able to reach an agreement with the lender about the sale in view of the foreclosure, but the liens will still need to be paid.

Improve Answer Discuss the question "Before foreclosure on a house with a number of liens exceeding the buyer's offer Can you as the former homeowner sell it to prevent it going into foreclosure?" Watch Question

First answer by Aggie80. Last edit by Simplemary. Contributor trust: 805 [recommend contributor]. Question popularity: 32 [recommend question]

Research your answer:

Answers.com > Wiki Answers > Categories > Law and Legal Issues > Property Law > Before foreclosure on a house with a number of liens exceeding the buyer's offer Can you as the former homeowner sell it to prevent it going into foreclosure?

Our contributors said this page should be displayed for the questions below. (Where do these come from)
If any of these are not a genuine rephrasing of the question, please help out and edit these alternates.
Effects of foreclosure?  How do you prevent foreclosure?  Can sell house after foreclosure?  Can you sell a house during foreclosure?  Can you sell your house after foreclosure?  How do you know your house is in foreclosure?  How do you sell your house before foreclosure?  Second and third mortgage liens in foreclosure?  Can you sell your house to prevent foreclosure?  How do you find out if my house is in foreclosure?  In foreclosure of a house what is instanter dismis?  Sole beneficiary of a house in foreclosure with liens?  Howlong do you have if your house goes into foreclosure?  If you actully sell your home after notice of forclosure can it still be reported as a foreclosure?