Foreclosure Won’t Wait! It’s Spending Your Money Behind Your Back.

Esphir Popilevsky
Esphir Popilevsky
Published on July 15, 2025

Wondering: “Can I sell my house while in foreclosure?”
You can. But the real question is: how much will it cost you if you wait?

If you’re in pre-foreclosure in New York or New Jersey, the clock isn’t just ticking, it’s tallying up costs. While you’re hoping things will turn around, your lender is quietly stacking fees, penalties, and interest that come directly out of your home equity.

🧨 Equity Loss Happens Fast!

Let’s say your home in New Jersey is worth $525,000 — the current state median. You’re behind on payments. Maybe two months, maybe more.

Behind the scenes, the bank is adding:

  • Attorney fees
  • Late payment penalties
  • Property inspections
  • Force-placed insurance
  • Court filing fees

And no, you won’t get a detailed invoice upfront. You’ll discover it only when someone pulls an updated payoff, often after you’ve found a buyer.

These charges can add $20K–$30K or more in just a few months. That’s your money is gone.

🔥 What Happens If You Wait Too Long?

Even if you finally decide to sell, you’re at the mercy of the bank’s timeline.
And by that point, your buyer has to:

  • Close in under 30 days
  • Deal with the lender’s approval
  • Work around court schedules

If the buyer can’t move fast enough, you lose the deal.
And the foreclosure continues.

When your home goes to auction:

  • The bank gets paid first
  • The house sells for less than market value
  • You get nothing

Your equity? Vaporized.

🧠 The Bank Has a System. And It’s Not for You.

Here’s what I want you to understand:
The bank is already playing chess, not checkers.

They have teams, systems, software all designed to protect their money, not yours.
Every day you wait?
Tracked. Logged. Billed against your equity.

📌 And here’s the gut punch:

Once you’re deep into default, your lender may refuse to pause the foreclosure, even if you find a buyer.
You’ll need written approval, and a closing date they agree to.
If that doesn’t happen?
The auction moves forward.
And you lose control.

📊 So… Can I Sell My House While in Foreclosure?

Yes. You absolutely can sell your house while in foreclosure, as long as the auction hasn’t happened yet.

But you need:

  • An accurate payoff (not from your last statement)
  • A buyer who can close fast
  • A real estate agent who understands distressed sales

If you’re in New York or New Jersey and you’re still sitting on equity (MONEY), don’t wait until you lose the upper hand.
The longer you stay in the house “figuring it out,” the more it’s costing you.

🤔 Ask Yourself These 3 Questions:

  1. Have I already missed more than one mortgage payment, with no real plan to catch up?
  2. Am I back on my feet financially, not just for this month, but for the long haul?
  3. Do I already know, deep down, that I’m not staying in this house long-term?

If you answered yes to two out of the three
It’s time to take action.

💡 When Is It Worth Fighting for the House?

If your financial situation is stabilizing, if you can catch up and stay current consistently, you may have options:

  • Loan modification
  • Forbearance plans
  • Repayment agreements

But these only work if you act early, and before the lender decides to move forward with the foreclosure anyway.

And keep this in mind: once legal fees and interest snowball, you might be fighting just to buy back your own equity.

📌 What If Frank Had Sold Sooner?

Let’s say Frank had $150,000 in equity when he first missed payments.

6 months later, after:

  • $25,000 in foreclosure-related fees
  • $15,000 in market value loss
  • A failed buyer who couldn’t close in time

He’s left with barely $80,000, and no room to negotiate repairs, credits, or attorney fees.
That’s a $70K loss just for waiting.

📣 Here’s Your Window — Use It Wisely

I help homeowners across New York and New Jersey sell their homes during foreclosure, before the court or the lender takes over.

We walk through your real numbers.
We find a plan that preserves what you’ve worked for.
And we move fast, because the bank won’t wait.

What To Do Next If?

You’re already behind on mortgage payments and if you’re thinking about keeping the house instead of selling the house, go watch this video: Why Fighting Foreclosure in NY or NJ Could Be a $100K Mistake

What To Do Next If?

You’re behind on mortgage payments and you have equity, and you’re wondering … Can I sell my house while in foreclosure, this video breaks down why it might be your smartest financial move.
Foreclosure Won’t Wait! It’s Spending Your Money Behind Your Back might be your smartest financial move.

Frequently Asked Questions About Foreclosure Costs and Delays

Q: What hidden costs build up during foreclosure?

A: Every month you wait, your payoff balance grows. Lenders add legal fees, missed payments, late fees, property inspections, and possibly forced insurance, all of which cut into your equity when the house finally sells.

Q: Why is waiting to sell so financially dangerous?
A: Because time works against you. Even if your house is worth more than your mortgage, the longer you delay, the more fees pile up, and many homeowners lose all their equity before realizing it.

Q: Can I stop foreclosure and still walk away with cash?
A: Yes, but only if you act early. The sooner you sell (or apply for a short sale or loan mod), the more options you have to protect your money and avoid court. Waiting too long can leave you with nothing.


Book a 15 Minute Meeting With Me on Zoom: https://calendly.com/foreclosurefreedomdesk/30min

Foreclosure Freedom is powered by Supreme Home Sales, Inc.

Get the hardship letter that’s helped hundreds of homeowners explain their situation to the bank: 👉 https://supremehomesales.com/sample-hardship-letter

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Esphir Popilevsky NY & NJ Licensed Real Estate Broker NY: Supreme Home Sales, Inc. and NJ: DreamLife Realty 44 Robin Ct. Staten island, NY 10309 O: 718.689.4737 / Direct: 917.579.4455 supremehomesales@gmail.com https://www.supremehomesales.com Subscribe to this channel https://www.youtube.com/c/EsphirPopilevsky

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