By: Aaron Eller
January 16, 2024
Selling a House When Behind on Your Mortgage in St. Louis, MO
Facing financial struggles and falling behind on your mortgage can be a stressful and overwhelming situation. If you’re in this position, you might be considering selling your home but are unsure of your options. Selling a house when behind on payments can be a lifeline to prevent foreclosure and regain control of your financial situation. In this article, we’ll discuss the key factors you need to know about selling your house while behind on your mortgage in St. Louis, Missouri.
As a cash home buying company that is buying homes as-is for cash, Cash Offer Man is here to help. We understand the urgency and complexities involved in this type of sale, and we offer fast, hassle-free solutions to homeowners in distress. In this post, we’ll walk you through important concepts like pre-foreclosure vs. foreclosure, the grace period, the benefits of selling to a cash buyer, and more.

Selling a House When Behind on Payments
When you first fall behind on your mortgage payments, the bank will start by sending you a notice of default. At this point there are several options available to homeowners facing financial hardship. Selling your home is often one of the best ways to avoid foreclosure and prevent further damage to your credit and losing your home.
Why Sell When You’re Behind on Payments?
There are several reasons why selling your home is often the best choice when you’re behind on mortgage payments:
- Stop the Foreclosure Process: Selling your home before the bank forecloses allows you to settle your debt and avoid having a foreclosure on your credit report which can stay on there for 7 years.
- Avoid Additional Fees: When you fall behind on payments, the lender may charge late fees and legal fees. Selling your home can stop these fees from accumulating.
- Regain Financial Control: If you’ve struggled with mortgage payments, selling your house can provide you with cash to help pay off debts and rebuild your financial future.
- Flexible Timeline: Working with a cash home buying company allows you to sell quickly without worrying about long timelines or the uncertainty of a traditional sale on market.Â
How to Sell When Behind on Payments
If you’re behind on your mortgage payments and considering selling, the process involves several important steps:
- Evaluate Your Situation: Assess how much you owe on your mortgage and compare that to the current market value of your home. This will help you determine if a sale will cover your debt.
- Consult a Local Home Buying Company: If you’re facing foreclosure or need to sell fast, working with a local home buying company like Cash Offer Man can simplify the process. We buy homes in any condition and offer cash for your property.
- List Your Home or Sell As-Is: If you have the time and resources, you can list your home on the market. However, if time is critical or your home is in need of repairs, selling as-is to a cash buyer might be the best choice.
By selling your house fast to a cash buyer, you can potentially avoid foreclosure and get the cash you need to pay off your mortgage and any other outstanding debts.

Pre-Foreclosure vs. Foreclosure
Before diving into the selling process, it’s essential to understand the difference between pre-foreclosure and foreclosure, as these terms affect your options when selling your home.
Pre-Foreclosure
Pre-foreclosure occurs when you have fallen behind on your mortgage payments, but the bank has not yet taken legal action to foreclose on your property. During this time, you are still the owner of the home and can sell the house to avoid foreclosure.
Selling during pre-foreclosure can be a great option to:
- Stop the foreclosure: By selling your home in pre-foreclosure, you can settle the mortgage debt and prevent further legal action.
- Avoid a foreclosure mark on your credit: Foreclosure can severely damage your credit score. Selling your home quickly can help mitigate this.
- Clear your debts: The proceeds from selling the house can be used to pay off the mortgage and other outstanding obligations, giving you a fresh start.
Foreclosure
If the lender begins foreclosure proceedings and takes legal action to repossess the home, your options for selling are more limited. Once foreclosure is finalized, the bank will take possession of the property, and you no longer own the home. This can significantly damage your credit and leave you without any equity in the property.
However, it’s still possible to sell a property in foreclosure if you act quickly. In some cases, you might be able to negotiate with the bank or lender for a short sale, where the property is sold for less than what is owed on the mortgage.
Selling before foreclosure—or while in pre-foreclosure—is always the best option, as it allows you to have more control over the sale and avoid long-term financial consequences.

Grace Period of Getting Caught Up
When you’re behind on mortgage payments, it’s important to understand the concept of a grace period. This is the period after your mortgage due date where you can catch up on missed payments without facing penalties or foreclosure. The grace period can vary depending on the terms of your mortgage agreement.
What to Do During the Grace Period
If you’re still in the grace period and want to avoid falling further behind, here are some steps to consider:
- Contact Your Lender: Speak to your lender about your situation. They may offer assistance, such as deferring payments or modifying the loan.
- Catch Up on Payments: If you have the financial resources, catching up on missed payments within the grace period is crucial to preventing the foreclosure process from starting.
- Sell Your House: If it’s unlikely you can catch up on payments, selling your home before the grace period expires may be the best solution. By selling to a cash buyer, you can quickly resolve your mortgage debt and avoid foreclosure.
The Benefits of Selling Fast
Selling your home fast during this period gives you the best chance to regain financial stability. Whether you’re facing pre-foreclosure, struggling with missed payments, or dealing with other financial pressures, a quick sale can help you avoid significant penalties and give you a fresh start.

Selling to a Cash Buyer in St. Louis, MO
If you’re behind on your mortgage payments and need to sell quickly, selling to a cash buyer like Cash Offer Man offers many benefits. Here’s why you should consider selling to a cash home buying company:
1. Sell Your House Fast
One of the biggest advantages of selling to a cash home buyer is the speed of the transaction. When you’re behind on payments, time is of the essence. Traditional real estate sales can take months, but a cash buyer can often close in as little as 7-14 days.
2. Avoid Repairs and Cleanup
Selling your home as-is to a cash buyer means you don’t need to worry about repairs, cleaning, or staging. This can be a huge advantage if your home needs work, and it saves you both time and money.
3. No Real Estate Agent Fees
With a traditional sale, you would typically need to pay agent commissions and closing costs. When you sell to a cash buyer, you avoid these fees, and you receive the full offer amount.
4. Certainty and Flexibility
When selling to a cash home buyer like Cash Offer Man, you can avoid the uncertainty of traditional listings. There are no buyer contingencies, inspections, or financing issues. You’ll get a firm cash offer and the ability to choose your closing date, allowing you to sell on your terms.
5. Peace of Mind
Selling to a cash buyer provides peace of mind, knowing the process is quick, transparent, and hassle-free. This is especially valuable when you’re dealing with the stress of being behind on mortgage payments.
Selling your House AS-IS
When selling a home in pre-foreclosure or foreclosure, many homeowners are concerned about the condition of their property. However, you don’t have to worry about repairs, cleaning, or renovations when selling as-is to a cash buyer.
Why Sell As-Is?
Selling as-is means you don’t need to spend time or money fixing the house before the sale. Whether the property has been neglected, is outdated, or needs significant repairs, a cash buyer will purchase the house in its current condition. This saves you from the stress and financial burden of making repairs, and it can be a huge relief if you’re already dealing with financial difficulties.

Conclusion of Selling your Home when Behind on Payments
Selling a house when you’re behind on your mortgage in St. Louis can be a challenging experience, but it doesn’t have to be overwhelming. Whether you’re in pre-foreclosure or facing the possibility of foreclosure, selling your home fast to a cash buyer offers a great solution to your financial struggles.
At Cash Offer Man, we focus on buying homes for cash in as-is condition. We understand the urgency of your situation and offer fast, fair, and hassle-free solutions to help you sell your house and move forward. If you need to sell your house fast in St. Louis, get a cash offer on your house, or want to sell your house without a realtor, we’re here to help. Contact us today to learn more about how we can assist you in selling your home fast and easy.
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