The harsh reality is that you cannot get your house back after foreclosure. Once the lender gets a judgment of foreclosure, they are in complete control of the property (assuming they also got the power to sell the property at auction). The only way for you to gain control of your home again would be through bankruptcy or if someone else bought it.
If you end up in foreclosure, you need to be aware that it is very unlikely that you will get your house back. It’s important for you to understand this because there are many misconceptions about how bankruptcy can help homeowners avoid foreclosure. If you think bankruptcy may be right for you, be sure to speak with an attorney who has expertise in the field of bankruptcy law.
Instead of wondering can you get your house in Northwest IN 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 house 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 home before the home is foreclosed upon and pay the lender what is owed to them.
While not an ideal option (because you’ll have to give up your house), 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 home in exchange for the long-term benefit of a better credit rating.
Here’s a secret to selling your Northwest IN area home fast so the bank can’t take it
You could work at trying to find a buyer to take your home. However, a faster and easier option is to find an investment firm that buys houses 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 Region Home Buyers will buy the house from you at a reduced price, and very quickly.