Roughly 400,000 homeowners who qualified for government-backed mortgage forbearance programs didn’t utilize their benefits and are already behind on their mortgages. As 2020 gives way to 2021, the grace period on government-backed mortgages ends. About 1 in 10 homeowners across the nation are behind on their payments. These homeowners are fearing the possibility of foreclosure and eviction. Don’t let yourself be in that crowd and get ahead of it by reading this article or calling us at 929 209 4724.
Time Waits for No One
If you’re among those who’ve faced a dramatic change in financial circumstances from the pandemic or other events and having trouble paying your mortgage during COVID in the Tri-State area, the time to act is now. You may find 2021 beginning with your credit being damaged, the loss of any equity you’ve built in your property, and being forced to move. When you’re considering your option, it’s important to consider the advantages of selling to a professional buyer now, with none of the last-minute surprises of inexperienced buyers who often end up failing to close. Unlike traditional listings, you’ll have a guaranteed sale, a closing date you can rely on to avoid foreclosure while saving your credit and financial future.
Investing to Exit
Listing for sale with an agent means up to thousands of dollars to present your home. Unless your property is pristine, you will need to complete repairs, and possible renovations and upgrades to appliances or electrical systems. Additional expenditures will also be required, going towards the advertising efforts necessary to make your home stand out. A real estate agent would also likely include a staging strategy at your expense as well. Not only will you be facing all of these expenses, but you will also have to pay commissions and closing costs out of the profit, if any, from your sale. All of these expenses could total 10%. When you’re already struggling to stay afloat, these costs may be impossible for you to afford. 2021 may look much brighter for you by making the decision to sell to an experienced professional buyer, you will know their offer will be for the house as is, and there won’t be any of these deductions from the price you’re offered.
Calculating the exact costs of going through foreclosure is simple math, calculating the emotional toll isn’t such an easy job. Life during the pandemic has brought forth turbulence in society, which can be very unsettling. On top of this, knowing that the bank is contacting you about going into foreclosure can lead to many sleepless nights. Owning a home is a big piece of the American dream, and to see it lost can be heartbreaking in and of itself. Listing your home in a traditional method, either with a real estate agent or selling it by owner, means an entirely new source of stress. With an open-ended method of cells, such as in traditional listings, you have no guarantee of if or even when your home will sell. Not only this, your life is constantly interrupted by showings and you must live at all times as if a photographer for a magazine is on the way. There is also the faint hope with every buyer that walks through the home, praying that this is the one that will solve your problems and give you financial relief. This type of pressure can affect every member of a family and relationships not only at home but at work and in every other aspect of your life, which can be devastating. If you’re having trouble paying your mortgage during COVID, why not consider selling now to a professional buyer? Avoid all of the sleepless nights and headaches with other selling options, otherwise, 2021 may bring not only financial disaster but emotional exhaustion for you and those you love.
Having trouble paying your mortgage during COVID? Without decisive action, you may lose your house in 2021 — why not avoid those impending foreclosure deadlines, spending more money just to sell the house, and lingering trauma to your family from the process, sell now instead to We Buy Tri-State Homes. To learn more about us and what we can do for you, send us a message or give us a call today at 929 209 4724!