“The Cash Offer Company”
Missed a few mortgage payments? Facing foreclosure threats? You’re not alone and you still have options.
Many Virginia homeowners fall behind on their mortgage because of unexpected hardship: job loss, illness, divorce, rising expenses, or simply life catching up. The good news is that you can still sell your house before foreclosure and walk away without wrecking your credit.
This guide explains how to sell a home with an unpaid mortgage in Virginia including how to avoid foreclosure, what happens to the loan at closing, and how The Cash Offer Company helps homeowners like you close fast with no fees or pressure.
What Happens When You Miss a Mortgage Payment?
When a mortgage payment is missed, it typically triggers the following process:
- 15-day grace period: You may have a short window without late fees
- 30+ days late: Lender reports to credit bureaus and charges a late fee
- 60–90 days late: You may receive a Notice of Default (NOD)
- 90–120+ days: Foreclosure proceedings may begin
In Virginia, the foreclosure process is typically **non-judicial**, meaning the lender can foreclose without court involvement and it moves fast once started.
Can You Sell a House With Missed Mortgage Payments?
Yes. In fact, selling your home before foreclosure is often the best way to avoid further damage to your credit or financial future.
You can sell your house at any point before the auction or foreclosure sale date, as long as:
- You pay off the mortgage balance (including late fees and penalties)
- You work with a buyer or closing attorney who can act quickly
At The Cash Offer Company, we buy homes in as little as 7–10 days helping you beat foreclosure deadlines and get out clean.
What If the House Is Worth Less Than the Loan?
If your mortgage balance is higher than your home’s market value, you may be facing a short sale. In a short sale:
- You sell the home for less than what you owe
- Your lender must approve the sale and forgive the unpaid portion
- The process can take 60–120+ days to complete
Short sales are possible but they take time and paperwork. A fast cash sale is usually only an option if your home still has some equity (or if the lender will approve a short sale quickly).</
Can You Sell to Avoid Foreclosure in Virginia?
Yes. In Virginia, the foreclosure process moves quickly but homeowners still have rights. Selling before the foreclosure auction can help you:
- Protect your credit from a foreclosure hit
- Pay off your mortgage and walk away with any remaining equity
- Avoid legal fees, public auction, and court action
- Stop calls, letters, and stress from lenders
The key is speed. Listing with a real estate agent may take too long. Selling to a cash buyer who can close in days is often your safest route.
What Happens to the Mortgage When You Sell?
When you sell a house even with missed payments the mortgage is paid off at closing. Here’s how it works:
- Your closing attorney or title company contacts the lender for a payoff quote
- The quote includes principal, interest, fees, and penalties
- The mortgage is paid directly from sale proceeds at closing
- You receive the remainder (if there is equity left)
If your loan is current, this process is simple. If you’re behind, the lender will require all missed payments and fees be included in the payoff.
We Help Virginia Homeowners Sell With Late Payments
At The Cash Offer Company, we’ve helped homeowners across Virginia sell fast even when they’re:
- 1–5+ months behind on mortgage payments
- Facing foreclosure auction dates
- Struggling with tax liens or second mortgages
- In the middle of divorce, probate, or job loss
We work with your lender, get you a fast cash offer, and help you sell before foreclosure hits your record.
Where We Buy Homes With Unpaid Mortgages
- Richmond – Especially in neighborhoods like Church Hill, Jackson Ward, and Northside
- Petersburg and Hopewell – Where properties are often underwater or behind
- Henrico, Chester, Powhatan, and more
Benefits of Selling As-Is to a Cash Buyer
- No agent commissions
- No repairs or inspections
- No time wasted on showings
- We handle communication with the bank
- You choose the closing date
If you’re dealing with stress, financial pressure, or just want out we’re here to help, not judge.
FAQs: Selling With an Unpaid Mortgage
Can I sell my house if I’m 3 months behind on my mortgage?
Yes. As long as you haven’t reached the foreclosure sale date, you can sell and use the proceeds to pay off the mortgage.
Will the bank allow me to sell before foreclosure?
Yes — lenders prefer payoff over foreclosure. Just act fast and get a buyer who can close quickly.
What if I have no equity?
You may need a short sale, where the bank agrees to take less than what’s owed. This can be done, but it takes time and paperwork.
Do I need to make more payments once I decide to sell?
No. Once you get a payoff quote, that amount is settled at closing. But additional interest may accrue if you wait too long.
Why Work With The Cash Offer Company?
We’re a family-run company based in Richmond that helps homeowners across Virginia get out of tough situations fast with no fees, no repairs, and no judgment.
We specialize in buying houses from people behind on payments, facing foreclosure, dealing with liens, or going through major life changes.
- Close in 7–14 days
- Fair cash offers — no lowballing
- Help dealing with lenders and payoff quotes
- Local, professional, and discreet
Take the Next Step
Need to sell a house fast before foreclosure? Contact The Cash Offer Company today. We’ll review your situation, make a fair cash offer, and help you move forward even if you’re already behind on your mortgage.
Contact Information
The Cash Offer Company
Phone: 804-215-4004
Email: info@thecashoffercompany.com
Website: https://www.thecashoffercompany.com/
Disclaimer: This blog is for informational purposes only. It does not constitute legal or financial advice. Please consult a licensed attorney or housing counselor if you are in active foreclosure.