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Navigating Foreclosure in Chicago • December 11, 2025

How to Know if Selling Now Is the Right Move for You

by Molly Heyen

If you’re struggling to keep up with mortgage payments, you might wonder whether it’s better to try to stay in your home or sell it now. While every situation is unique, understanding key factors can help you make a confident, informed decision.

Consider Your Financial Situation

Start by evaluating your current finances:

  • Are you behind on mortgage payments or close to missing a payment?

  • Do you expect your financial situation to improve soon, or is it likely to remain challenging?

  • Could selling help you avoid the long-term impact of foreclosure on your credit?

A clear picture of your financial reality helps you weigh your options realistically.

Assess Your Home’s Equity and Market Value

Your home’s equity and current market value can significantly impact your selling options:

  • Positive equity: Selling may allow you to pay off your mortgage and walk away with funds to stabilize your finances.

  • Little or no equity: A short sale or working directly with a buyer may be necessary to move quickly.

  • Negative equity: You may still have options, but professional guidance is important to navigate the process.

A licensed real estate agent can provide an up-to-date market analysis so you understand what your home could realistically sell for.

Timing Is Critical

The stage of your foreclosure process can also influence your decision:

  • Early stage: Selling now may allow for more control over timing and price.

  • Late stage: Time-sensitive options like a cash sale or short sale might be necessary to avoid foreclosure.

The sooner you act, the more control you retain over the process.

Personal Considerations

Beyond finances, think about your personal goals:

  • Are you ready to move and start fresh?

  • Would staying in your home create additional stress or uncertainty?

  • How does selling fit with your long-term plans for stability and housing?

Answering these questions can help you decide whether selling now aligns with your needs and priorities.

Final Thoughts

There’s no one-size-fits-all answer, but being informed about your finances, equity, market conditions, and personal goals puts you in a strong position to make the right choice.

If you’d like to explore whether selling your home now is a good option, I can provide a market perspective, outline potential selling strategies, and connect you with trusted resources to guide the process.

Schedule a no-obligation consultation to discuss your situation today.

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