What is an Upside-Down Mortgage? Being upside-down on your mortgage is owing more on your house than its current market value. This is not at ideal situation. This could happen when you overpaid for the property in a bidding war, you’ve fallen behind on mortgage payments, or property values have dipped. While the market could still turn around in Arizona or you could still wait out for the values to rise, you may feel backed into a corner when current circumstances are forcing you to sell your house. Understandably you don’t want to make a costly misstep when faced with this dilemma, so exploring your options is helpful.
So what can you do? With so many decisions ahead, you have to be fully informed and weigh the benefits of each option for your house. This will help you feel confident in the action you decide to take. Read on as we explore the things you can do if you are upside-down on your mortgage in Arizona.
Get An Assessment
The first thing you can do if you are upside-down on your mortgage in Arizona is to get your house assessed. This will help you realistic picture of where you stand. After getting your house assessed, you can then contact your lender for the amount owed on the mortgage and schedule a professional appraiser. Doing these will allow you to work with the exact numbers.
Professional buyers like Rusty and Susanna of Pinal County House Buyer in Arizona want you to make an educated decision about your future. They will help you compare what you could earn from listing your house against getting a direct as-is cash offer to buy your house. Selling our house directly to cash buyers mean that you can skip the prep, cleaning, and repairs.
We can provide you with all the details used to calculate our offer because in the end we want you to agree it is fair and feel good about working with us long after closing. Forget about what kept you in the dark about your mortgage. We’re here to help.
Do A Short Sale
Naturally, you want to try every option if you are upside-down on your mortgage. While a short sale of your house has some consequences, they are very minimal compared to the fallout from claiming bankruptcy or dealing with a foreclosure on your credit record. Rusty and Susanna of Pinal County House Buyer in Arizona are highly seasoned negotiators who can work out a short sale with your lender. A short sale is when a mortgage lender agrees to let a homeowner sell their home for less than what they owe on the mortgage. They have been in the business since 2013 and are adept to the ins and outs of mortgages and upside-down scenarios.
Doing a direct sale to us makes it easy to solve your home selling troubles. If you don’t know us yet… Our goal is to help homeowners who want to sell their house fast come up to an informed decision and a win-win solution.
Pay The Difference
Another thing you can do if you’re upside-down on your mortgage in Arizona is to sell your house and bring the amount owed to the closing table to pay off the remainder of the mortgage. With a direct sale of your Arizona house to professional buyers, you’ll get a fair value and won’t have to pay any hefty real estate commissions. Rusty and Susanna are professional buyers operate with total transparency. At Pinal County House Buyer, there are no hidden fees, and because of our full-service in-house team of property specialists, you won’t pay any closing costs, and we can provide you with a fast, guaranteed closing day. You can also talk to Rusty and Susanna about selecting the best calendar date for your closing.
The Best Option
The best option, if you are upside-down on your mortgage in Arizona and need to sell quickly, is to talk to Rusty and Susanna. They will stop everything and listen to you, find out what you need, and help you find the best resolution for your situation.
Feel free to ask us any questions or express any concerns you may have about the process of a direct sale of your Arizona house. We’re from Pinal County, and we are your neighbors who live and work alongside you. We are proud of the work we do, helping Arizona sellers with unique and individualized solutions, one seller, one property at a time. Call us at (520)261-6116.
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