Can You Sell Your House If It's in Preforeclosure?

Selling a House in Preforeclosure on Long Island

What Is Preforeclosure?

Preforeclosure starts when you’re behind on your mortgage, but before a court judgment or auction date. The lender has filed a Lis Pendens, but the house is still yours.

Why It’s the Best Time to Sell

  • You avoid foreclosure on your record
  • You maintain more control over the sale
  • You may still recover equity

How It Works

  • Get a payoff letter from the lender
  • Sell the house (as-is or traditionally)
  • Pay off the loan at closing

Don’t Wait Too Long

The earlier you act, the more offers you can consider and the more money you may walk away with.

Also Read: How to Know If Foreclosure Help is Legit?