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Behind on Mortgage Payments in Wisconsin? Here Are Your Options
Sally Buys Houses helps Wisconsin homeowners who are behind on mortgage payments understand their options, including selling the house before foreclosure. Falling behind can feel isolating and scary. The earlier you understand your choices, the more of them you'll have. Let's talk it through without judgment.
Can you sell a house you're behind on? Usually, yes
Missed payments, late fees and the loan balance are paid off from the sale at closing, and anything left is yours. Wisconsin foreclosures go through the courts, which usually means months rather than weeks, so there is often more time than people fear. The two things that shrink your options are waiting and owing more than the house is worth. If that second one is you, a sale needs your lender's approval, and I'll tell you that straight.
Start with the free options
Before you consider selling, I'd encourage you to do two things:
- Call your mortgage servicer. Ask about repayment plans, forbearance, or a loan modification. Lenders often have more options than people expect, especially early on.
- Talk with a HUD-approved housing counselor. Their help is free or low-cost. Call 800-569-4287 or search the HUD counselor directory.
Be cautious of anyone who asks for money up front to "save" your home, tells you to stop talking to your lender, or asks you to sign over your deed before a sale is complete.
When selling before foreclosure makes sense
Sometimes keeping the house just isn't realistic, and selling while you still have equity can protect your credit and your options. If that's where you are, a direct as-is sale to me is one possibility, with a closing date set around your deadline. Others include listing with an agent or, in some situations, a short sale through your lender. I'll explain the differences honestly.
A sale doesn't automatically stop a foreclosure. Timing, your lender, and your loan balance all matter, and I'll be clear about what I can and can't do in the time you have.
What Sally is not
I'm not a lender, a loan-modification company, a foreclosure consultant, or a government program, and I don't charge homeowners any fee to talk. Whether I buy a house directly or assign my purchase agreement to another investor, I'll tell you in writing before you sign, and every term is in a written purchase agreement you can review with an attorney.
Definitely recommend Sally Buys Houses! It’s nice not having to worry about house repairs before selling. Sally was easy to talk with and very knowledgeable. Great experience overall.
Sally was really great to work with. She's patient and looks for a solution that will work for the seller. I appreciated her creative options. I highly recommend her if you have a house to sell.
Questions about selling when you're behind on payments
Can I sell my house if I'm behind on payments?
Usually, yes. The mortgage, any missed payments and fees are paid off from the sale at closing, and whatever is left is yours. The catch is timing and equity: once a foreclosure is filed you have less time, and if you owe more than the house is worth, a sale needs the lender's approval (a short sale). Call your servicer and a free HUD-approved counselor first, then let's talk about whether a sale helps. More on being behind on payments.
Am I obligated to sell if I ask for an offer?
No. Asking questions or getting an offer doesn't commit you to anything. Plenty of people talk with me and decide to list, repair, or wait, and that's okay.
Will your offer be lower than what I could get by listing?
Often, yes. Because buying directly from an investor is different from selling on the open market, my offer may be lower than what the property could sell for through a traditional listing. In exchange, a direct sale can mean no repairs, no public showings, fewer selling expenses, and a flexible closing date. I'm happy to walk you through the math so you can compare. Fix it, list it, or sell it as-is?
Are you a real estate agent?
No. Sally Buys Houses is a real estate investment business operated by SCT Property Solutions, LLC.
I work directly with homeowners to explore alternatives to the traditional home-selling process. Depending on the property and circumstances, I may purchase the property directly or enter into a purchase agreement with the intention of assigning my contractual rights to another investor.
When an assignment is involved, I'll explain how the process works, who is involved, and what you can expect. Any required disclosures will be provided in writing.
My goal is to make sure you understand your options and feel comfortable with your decision before moving forward. You're always welcome to have your own agent or attorney review an agreement before you sign.
Tell Sally about your house, whenever you're ready
Whether you're ready to sell or just have questions, I'd welcome the conversation. Call or text me at 608-406-4615, email [email protected], or send a few details and I'll reach out.
Real Solutions. Real People.Real Results.