Whether you overpaid for the property in a bidding war, you’ve fallen behind on mortgage payments, or property values have dipped, being upside-down on your mortgage or owing more than the current market value is a less-than-ideal situation for homeowners. If circumstances force you to sell your house due to foreclosure instead of waiting out a market turnaround for values to rise, you may feel backed into a corner. Understandably you don’t want to make a costly misstep when faced with this dilemma, so exploring your options is helpful.
With so many decisions ahead, being fully informed and weighing the benefits of each will help you feel confident in the action you take. So read on as we explore four things you can do if you are upside-down on your mortgage in Poughkeepsie, NY.
Assessment
The first thing you can do if you are upside-down on your mortgage in Poughkeepsie, NY is to get a realistic picture of where you stand. Then, contact your lender for the amount owing on the mortgage and schedule a professional appraiser so that you’ll work with exact numbers.
Professional buyers like those at Hudson Valley Cash Buyers want you to make an educated decision about your future, so they’ll compare what you could earn from listing vs. our offer to buy your house directly as-is for cash, and you can skip the prep, cleaning, and repairs. At Hudson Valley Cash Buyers, our professional buyers provide all the details used to calculate our offer because we want you to agree it is fair and feel good about working with us long after closing.
Short Sale
Naturally, you want to explore every option if you’re upside-down on your mortgage in Poughkeepsie, NY, especially when facing the potential consequences of foreclosure or bankruptcy. While a short sale may have some negative impact on your credit, it’s typically far less damaging than having a foreclosure or bankruptcy on your record, which can stay with you for years. A short sale allows you to sell the property for less than what you owe, with your lender’s approval, and avoid the long-term repercussions of foreclosure. However, this process can be complex and time-consuming, as it requires approval from your lender, who may take weeks or even months to review your situation. Professional buyers like those at Hudson Valley Cash Buyers have extensive experience in negotiating short sales, and we can help you navigate the process efficiently, ensuring that you can move forward without the weight of an unmanageable mortgage hanging over you.
A direct sale to one of our professional buyers at Hudson Valley Cash Buyers offers a streamlined solution to your home-selling troubles in Poughkeepsie, NY. Unlike a traditional sale or short sale, selling directly to us means you won’t have to wait for lender approvals or deal with complicated paperwork. Our team will provide you with a fair, cash offer and guide you through every step of the process, allowing you to close quickly and without the stress of traditional methods. Whether you’re behind on payments, facing foreclosure, or just need to sell fast, our professional buyers make it simple to resolve your housing situation in a way that works for you. You won’t have to worry about repairs, inspections, or negotiations, as we buy homes as-is, ensuring a quick, hassle-free transaction.
Pay the Difference
Another thing you can do if you’re upside-down on your mortgage in Poughkeepsie, NY is to sell the property and bring the amount owing to the closing table to pay off the remainder of the mortgage. With a direct sale of your Poughkeepsie, NY house to professional buyers like those at Hudson Valley Cash Buyers, you’ll get a fair value and won’t pay any hefty real estate commissions. At Hudson Valley Cash Buyers, our professional buyers operate with total transparency. At Hudson Valley Cash Buyers, there are no hidden fees, and because of our full-service in-house team of industry specialists, you won’t pay any closing costs, and we can provide you with a fast, guaranteed closing day. Or talk to your professional buyer from Hudson Valley Cash Buyers about selecting the best calendar date for your closing.
At Hudson Valley Cash Buyers, our professional buyers are the best option if you are upside-down on your mortgage and need to sell. At Hudson Valley Cash Buyers, our professional buyers stop everything and listen to sellers to help find the best resolution for your situation. Feel free to ask us any questions or express any concerns you may have about the process of a direct sale of your house. At Hudson Valley Cash Buyers, we are your neighbors who live and work alongside you, and we are proud of the work we do helping Poughkeepsie, NY sellers with unique and individualized solutions, one seller, one property at a time. So why learn more about the difference a direct sale of your house can make by talking with a professional buyer from Hudson Valley Cash Buyers for yourself without obligation? Call Hudson Valley Cash Buyers at (845) 490-5694.