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, it’s best to ride out the changing real estate market and stay in the home for several years to allow equity to build. However, many motivating factors lead homeowners to sell, such as moving long distances to be nearer to family, a sudden job relocation, or difficulty making payments. In addition to the typical stresses of life, selling your home can be extremely stressful, expensive, and time-consuming. It may also be the largest financial transaction of your life, and naturally, you want to make the best deal possible, despite your circumstances.
Understandably, sellers feel overwhelmed when faced with a mortgage underwater; however, when you understand your choices, you can move forward and confidently make decisions. A few options are available if you’re facing difficulty making payments. If you should find yourself with a Southern California mortgage underwater, read on as we explore what you can do about it.
One option for those with a Southern California mortgage underwater is to discuss the options your lender can provide, such as 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. In addition, you should understand how your efforts will affect the outcome and the negative consequences, including the effect on your credit score and why you should avoid foreclosure. Professional buyers, like those at Ryan Buy My House, can help you understand your options and weigh the pros and cons of each course of action. At Ryan Buy My House, our professional buyers work with a policy of total transparency because we want what is best for the seller; we’re proud of our work helping Southern California sellers deal with problems selling their houses.
Or, if you have a Southern California mortgage underwater, you could directly sell the property and avoid the hassles of negotiating with your lender, the paperwork, and jumping through hoops to meet deadlines and satisfy the lender. When you make a direct sale, you also avoid spending any cash out of pocket to prep, make repairs or pay for costly marketing expenses and real estate commissions. Professional buyers like those at Ryan Buy My House buy houses in as-is condition and take on all the risks. At Ryan Buy My House, our professional buyers never charge commissions at Ryan Buy My House, and no hidden fees await you at closing. You won’t even pay closing costs because of our full-service in-house team of industry specialists at Ryan Buy My House. This built-in team of local pros allows us to work quickly and efficiently and provide Southern California sellers like you with a mortgage underwater with a guaranteed closing date, often within days. Or talk to one of our local professional buyers at Ryan Buy My House about selecting the best day for your move.
A direct sale to one of our professional buyers at Ryan Buy My House is the best way to sell if you have a Southern California mortgage underwater. We make selling directly easy for sellers at Ryan Buy My House with straightforward contracts, and an offer you’ll agree is fair. At Ryan Buy My House, we’re your neighbors who live and work alongside you here in Southern California, and we want you to feel good about working with us long after closing. That is why the professional buyers at Ryan Buy My House will talk to you with no obligation and allow you to compare what you would profit from each option and decide what works best, given your current personal and financial situation. Call Ryan Buy My House at 949-533-7166.