When your mortgage is underwater, the amount you owe on the mortgage loan is more than the property’s current market value. So, of course, one of the best options is to ride out the changing real estate market. This means staying in the home for several years to allow equity to build. However, many motivating factors lead homeowners to sell their house, such as moving long distances to be nearer to family, a sudden job relocation, or difficulty making payments. Life brings a lot of typical challenge. The addition of needing to selling your home can be extremely stressful, expensive, and time-consuming. Selling a home can be the largest financial transaction of your life, and it’s understandable that you’d want to make the best deal possible, despite your circumstances.
Understandably, sellers feel overwhelmed when faced with an underwater mortgage; however, when you know and understand your options, you can move forward and confidently make decisions. A few options are also available if you’re facing difficulty making payments. If you should find yourself with a mortgage that’s underwater, read on as we explore what you can do about it.
Lender Options
One option for those with a mortgage underwater in Casa Grande or any city in Arizona is to discuss the options your lender can provide. These options include a loan modification, short sale, or submitting a deed in lieu of foreclosure. It’s best to enter any of these processes with your eyes wide open to the realities of what a lender will require of you. You should also understand how your efforts will affect the outcome and any of the negative consequences. If you are facing a potential foreclosure, you have to definitely consider the effect on your credit score and why you should avoid it as best you can.
Rusty and Susanna of Pinal County House Buyer can help you understand your options and weigh the pros and cons of each course of action. Professional buyers like us and our team of experts work with a policy of total transparency because we want what is best for the seller. We always make sure to come up with a win-win solution. We’re proud of our work helping homeowners in Pinal County and surrounding areas deal with problems selling their houses.
Direct Sale
Another option for dealing with a mortgage underwater is to directly sell the property and avoid the hassles of negotiating with your lender. You can skip having to deal with all the paperwork and jumping through hoops to meet deadlines and satisfy the lender’s requirements. When you make a direct sale, you can avoid spending any cash out of your own pocket to prep your house, make repairs, hire contractors, or pay for costly marketing expenses and real estate commissions.
Rusty and Susanna of Pinal County House Buyer are professional buyers who buy houses as-is, in any condition and take on all the risks. We never charge commissions and no hidden fees await you at closing. You won’t even pay closing costs because of our full-service in-house team because we will take care of that for you. Our built-in team of professionals allows us to work quickly and efficiently and provide sellers like you with an underwater mortgage with a guaranteed closing date, often within days of our initial interaction. You can also talk to us about selecting the best day for your move.
A mortgage that’s underwater can literally make you feel like drowning or being underwater. We want you to be aware about one of the best option when you suddenly need to sell your house. A direct sale is the best way to go if you have a mortgage underwater. We make selling directly easy for sellers at Pinal County House Buyer with straightforward contracts, and an offer you’ll agree is fair. Rusty and Susanna are your neighbors who will work alongside you here in Casa Grande, Arizona City, Maricopa, Eloy, Coolidge and other cities in Arizona. We want you to feel good about working with us long after closing. We will talk to you with no obligation and allow you to compare what you would profit from each of your options and decide what works best, given your current personal and financial situation.
We buy houses in Casa Grande, Arizona City, Maricopa, Eloy, Coolidge and other cities in Arizona. If you need to sell your house fast in AZ, contact us… we’d love to make you a fair no-obligation, no-hassle offer. Take it or leave it. You’ve got nothing to lose.