A house is indeed one of the most cherished and significant investments an individual makes during a lifetime. It comes with a great many financial and emotional sacrifices. Each month, a hefty amount is deducted from your income, which goes towards funding your mortgage payment.
Not to mention the savings and investment you have made in your down payment. It is important to protect this investment so you can enjoy financial security even in times of turmoil and economic uncertainty. However, facing an underwater mortgage situation not only turns your house upside down. In fact, it can turn your financial wellbeing upside down and into a chaotic abyss.
The value of your property is much less than the outstanding balance on your mortgage. So basically, while you will still be paying that hefty monthly payment to your lender or bank, your house simply won’t be worth it.
Do you want to continue carrying the burden of an underwater mortgage? It is ill-advised and merely not pragmatic to continue carrying negative equity and paying for a mortgage loan that doesn’t justify the value of the property you own.
So, what is the most logical solution? You can avoid this underwater mortgage by selling off your property and putting that money towards paying off your loan. Then, you can start a new in a healthier and competitive real estate market.
It may sound simple, but it is incredibly challenging and complex. Many homeowners have sentimental attachments with their properties, which often convince them to continue paying off their loans and living in the house they so lovingly purchased. Typically, negative equity occurs, due to a nationwide or statewide financial crisis, or an economic recession.
Basically, it is caused by a substantial deflation in the housing prices of an entire market. For instance, the 2008 financial crisis witnessed countless homeowners struggling with an underwater mortgage. This is why homebuyers must closely account for the factor of underwater mortgages before purchasing a house. With a house upside down, homeowners often resist selling the house as they do not have the cash to pay for the losses and cover their mortgage payments. This is where we step in to help save the day!
At 718 Real Estate Advisors, we can help you avoid negative equity and pay off your mortgage payments by buying your house as-is. We specialize in helping clients who need to sell off their properties fast in exchange for prompt cash payments. We do not require homeowners to conduct any repairs or home sprucing, and we will not bring in potential buyers to ruin your peace.
We will buy your house as-is in exchange for a cash payment. You can put that money towards paying off your mortgage loan and investing in a new property in a healthier real estate market. Feel free to get in touch with our team for further details.
When Would You Like To Sell Your House?
Are you a property owner?
Reason To Sell