Foreclosures are lose-lose propositions for almost everyone involved. The good news is that there are several ways to avoid a foreclosure, and while facing foreclosure can feel overwhelming, the good news is you have options. One of the best options is selling the property as-is for cash, before the foreclosure is complete. This is your best chance at protecting your credit, avoiding huge financial & tax penalties, and putting your future at risk.
Even if you’re behind on your payments, even if you have liens, or if your property is in poor condition – you still may be able to sell your house as-is for cash and walk away with cash in hand.
If you have some equity in your home, but you’re struggling to make your mortgage payments, let us give you a free cash offer. We’ve been buying pre-foreclosure properties in San Diego since 2008.
Foreclosure is not just about losing your home—it can leave a lasting financial impact for years. Here’s why you want to avoid it:
- Severe Credit Damage & repercussions – Your credit score will literally drop by 125-150 points, making it difficult to secure future housing, auto loans, credit cards, and even employment opportunities.
- Tax Consequences – The IRS usually considers the unpaid balance of your mortgage as taxable income, leaving you with an unexpected tax bill.
- Eviction & Public Record – If you wait too long, you could face a humiliating and stressful eviction process, with your belongings moved out by the authorities in front of neighbors.
- Future Loan Challenges – Foreclosure stays on your credit report for seven years, making it nearly impossible to qualify for a mortgage in the near future. Rental applications become much harder to approve as well.
- Future Job Opportunities – Because of the credit damage and public record of the foreclosure, it can cost you future employment.
- Zero Financial Gain – In a foreclosure auction, you walk away with nothing—even if your home is worth more than what you owe.
Selling your home before foreclosure gives you a chance to avoid these severe consequences and move forward with financial security.
Even if you are behind on your payments, if you have equity in your home, acting quickly, selling and selling your home for cash can provide a way out. Here’s why homeowners in foreclosure choose this option:
In California, most foreclosures follow these steps:
- Pre-foreclosure notice – Lender contacts you to explore your financial options before starting a foreclosure. They cannot start the foreclosure until at least 30 days after reaching out to you.
- After 30 days, if you and the lender do not choose a plan to prevent foreclosure, the lender can record a Notice of Default in San Diego county. The Notice of Default starts the official foreclosure process.
- You have 90 days from the date the Notice of Default is recorded to pay what you owe, otherwise a Notice of Sale will be recorded.
- The property can be sold at a public auction at least 21 days after the Notice of Sale is recorded.
- Post-Foreclosure Period – After the foreclosure sale, the new owner or the lender (if the property reverted to them) must take steps to evict any occupants. They must serve a Notice to Quit, giving occupants at least three days to vacate. If the occupants do not leave, the new owner must file an unlawful detainer lawsuit to evict them, which can take several weeks to several months.
Many homeowners fall trap to just “waiting to see if things improve” but the truth is that foreclosure moves quickly and time is critical! The sooner you take action, the more control you have over the outcome. And you can avoid foreclosure, protect your credit, and secure your financial future—without the stress of repairs, showings, or agent commissions.
The biggest stumbling block in selling your house through an agent is that you will be racing against time and there will be a lot to accomplish. You may have to do renovations to make the house marketable while also finding a good real estate agent—and swallow the high California real estate commission rates. You’ll also have to stage and show the house, regardless of what else is on your schedule. In the lucky event you find potential buyers, negotiations can stretch out and the buyers will need time to arrange financing. It’s a gamble whether everything will fall into place before the foreclosure deadline looms.
Homeowners facing foreclosure often have properties with issues that make selling through an agent difficult. We buy homes in any condition, including:
- Homes in need of repairs
- Properties with code violations
- Hoarder houses or trash-filled homes
- Bad rental properties with problematic tenants
- Inherited estates causing financial strain
Selling your house to San Diego House Heroes means you don’t have to worry about repairs, showings, or dealing with real estate agents. We make the process simple and stress-free.
If you do not have enough equity in your home to cover the amount you owe on your mortgage – meaning if your mortgage balance, liens, and other debts exceed your home’s value – then other options may be available, such as a Deed in Lieu of Foreclosure, Forbearance, Loan Reinstatement, Repayment Plan, a short sale, or Bankruptcy. Our team can help you understand your options and decide the best course of action for your situation.
Don’t waste time, money and energy trying to negotiate with your lender or talk to a lawyer….As long as you’re not ‘underwater’ on your mortgage (you owe more than what the house is worth), we can buy your home for cash before it goes to foreclosure!
The sooner you act, the more options you have. If you’re facing foreclosure, we can help you:
- Stop foreclosure proceedings before they reach auction
- Sell your home fast with a cash offer
- Avoid credit damage and eviction
- Secure a fresh financial start with cash in hand
A home with high equity is valuable, even if you are behind on your mortgage. So sell your house, cash in on your equity, and pay back your debt. You might even be able to walk away from the deal with cash leftover. (And you won’t have your credit and potentially your life destroyed either)
If you’re facing foreclosure in California, call San Diego House Heroes at (619) 880-8274 for a no-obligation cash, as-is offer! We can close in as little as 10 days and help you move forward stress-free.
