Having no or little equity in your house is a prevalent problem in the Alabama. While this may not affect you a lot while you’re living in your home, it may become a huge complication when selling. If you have no or little equity, selling your Alabama house for cash isn’t practical because you owe more than your house is worth.
Furthermore, you are not in position to just ‘walk away’ from your Alabama house and your home loan payments because your mortgage lender will haunt you for up to 7 years on your credit history after your house is foreclosed! If for any reason you can’t afford your home loan, we can help you in just 1-2 weeks by using a process called a lease option.
A lease option is ideal when you have low equity and can no longer afford to pay your home mortgage. The reasons for not having the ability to pay your mortgage many. Job loss, financial hardship, health problems, relocation or other factors can cause you to come up short on your mortgage payments. If you have low equity, selling your house through an estate agent or even through a quick cash sale is just illogical and not probable.
Now, an example of selling a house with negative equity in Alabama:
Your Alabama house is worth $100,000 in the current market place. You have a mortgage with $90,000 left on it. If you go to a real estate agent, they will probably urge you to reduce the price to get a quick sale. If your home sells for $95,000, once the costs, fees, and remaining mortgage have been paid, you are not making any profit out of the sale. In fact, you will lose money. If you are already straining financially, you certainly can not manage to do this! While this may be a better option that foreclosure, there is another way to get out of that house without losing your shirt…
We have a great remedy for you if you are in that sticky little or no equity situation! A lease option is where we basically take over the mortgage payments and all of the maintenance costs of your home. You are free to move out of your house as soon as the paperwork has been signed, which can happen in just 7 days, and you no longer need to panic about the mortgage or any of the responsibility that comes with being a home owner.
With the lease option, we’ll take over all your mortgage payments and the responsibility of the property, we then have the option to buy that home at some time in the future. We’ll agree upon a price that day and purchase the house when the market value rises.
Often it takes between 3-7 years for the price to go up sufficiently. Anytime during this period we have the option to purchase your home at the agreed upon price. We will take care of all legal fees during this process.
This is a great deal with all the same results as a regular sale! We’re taking care of your home, paying your mortgage, maintenance, monthly bills and all other costs. You simply provide us an ‘option’ to buy the property in the future. We help people get rid of problem properties all the time.
This option for Selling a House With Negative Equity in Alabama is perfect for homeowners who have little or no equity and are:
- Facing foreclosure
- Can no longer make mortgage payments
- Wanting to sell, but do not need the cash right away
- Wanting to secure an agreed sale price in the current housing market, regardless of the insecure market price in the future
If you are selling a Alabama house with Negative Equity we will buy it!
Lease options are very versatile and we can tailor them to fit your specific needs. The whole process is completely free for you. We do not charge for our services. There is no uncertainty when selling with us; we will get your house sold GUARANTEED.