“I Owe Money When Selling My House, How Is This Possible? - We Take Over Home Loans Program Explained - Colorado Springs Colorado
So I bought a house “the American Dream,” lived for a bit, got trapped inside it during the pandemic, refinanced at historic low rates, and now I want to sell, but if I’m adding in all the selling fees from the broker, the buyer, the title company, and the county, it appears I’m going to owe money when I sell my house!?!?”
You may be thinking “How is it possible I owe money when I’m selling my house?!?”
Selling a house can be a daunting task, especially when there is not enough equity to pay all the extra costs associated with selling. But what if we told you that selling your home today could be as easy as finding the right buyer? Introducing the We Take Over Home Loans program from HelpfulHomeBuyer.com - a simple and effective way to sell your house with or without equity. In this article, we will delve deeper into this program, exploring all the benefits and advantages that come with it.
First and foremost, the We Take Over Home Loans program provides you with immediate relief from mortgage payments. Whether you need help catching up my mortgage payments. Have you searched for “why do I owe money when I’m trying to sell my house?” The HelpfulHomeBuyer.com team, an established company with a lot of cash, can payout your existing equity in a single lump sum or even over time as monthly payments. Never worry about the property again as Helpful Home Buyer will be buying your house and that means peace of mind. We take over your mortgage payments, giving you a check today, and you can move on with whatever’s next in your life. This program is particularly helpful for those who need to relocate or have other financial obligations that require immediate cash or liquidity. College Tuition, Behind On Payments, Laid Off, or just want to relocate or downsize. A common time of life when we hear this need is with our military service members. If you took out a VA loan it may be even harder to sell because you can borrow 105% of the value of the house. If your property has dropped slightly in value since you took out the loan, you may owe thousands, if not tens of thousands of dollars in order to relocate as you Permanent Change Of Station (PCS orders).
Even if you do not have as much equity as you hoped for or are upside down by a lot, on your home?
UNDERWATER or UPSIDE-DOWN MORTGAGE:
Is the house that cannot be sold through a traditional realtor listing without enduring losses from the sale. The 2% closing costs, 6% real estate agent fees, 1% in repairs buyer wants, etc. To not be upside-down or under water in your mortgage home loan, you’ll need almost 10% equity at a minimum in order to break even. So if you refinanced a high loan to value of the home in the last 2-3 years, since housing pricing are creeping down, you may be upside-down on your house!
For easy math, your $300,000 house that you got a great interest rate when refinancing your home loan in 2020-2022, also may leave you owing more than it’s worth if you go to sell. Because the average -9-10% in selling fees can make you lose money, or have to bring money to the table if you want to sell your house.
This program can provide an incredible benefit to you, especially in a slowing housing market. As long as you have a low mortgage rate, which waa a smart financial move you made, you can still receive fair value on the sale of your house. The We Take Over Home Loans program allows you to use the benefits of refinancing your home to your advantage when selling.
Moreover, the program can help you build your credit score. By having someone make the payments on time, your credit history improves. The documentation of payments made by the HelpfulHomeBuyer.com team can help you qualify for other loans and even buy a house again, if you so desire, after just 12 months.
The We Take Over Home Loans program is a complete and hassle-free solution. The HelpfulHomeBuyer.com team takes care of all the details, from paying off your existing loan to making future payments. As a result, you are not weighed down by house-related worries, giving you more time and energy to focus on other important things in life.
Overall, the We Take Over Home Loans program from HelpfulHomeBuyer.com is a fantastic option for homeowners who want to sell quickly and efficiently without compromising on fair value. From giving you the relief of moving on from your property to helping you build your credit score, this program is designed to make your life easier. So, if you are a homeowner looking for a simple way to sell your house, give the We Take Over Home Loans program a try today.