5 Ways To Get Out of Your Mortgage in Indianapolis Even During a Pandemic

5 Ways To Get Out of Your Mortgage in Indianapolis

Are you feeling trapped in your mortgage in Indianapolis? We understand that life circumstances can change, and what once seemed like the perfect house may no longer fit your needs. Don’t let the stress and frustration of paying for an unwanted property hold you back. In this post, we’ll share 5 effective strategies to help you get out of your mortgage and move on with your life, even amidst a challenging public health crisis. 

Tired of paying an expensive mortgage month after month? If you’re ready for a change and looking to get out of your current house, we can help. At 317 Home Buyers, we provide valuable information and strategies to help you get out of your mortgage quickly and easily, without incurring excessive fees or penalties. If you’re in Indianapolis and have any questions about how to get out of your mortgage, don’t hesitate to reach out to us at 317-623-4734. We’re here to assist you!

Sell Your House Fast

The easiest and most convenient way to get out of your mortgage is to sell your house to a direct buyer. 317 Home Buyers buys houses directly from local homeowners and can close in only a matter of days. Selling your house fast in Indianapolis will save you a fortune on holding costs including continued utilities, property maintenance, taxes, homeowners insurance premiums, and more. A traditional listing can be effective, but the process can end up taking several months while costing you a lot of money. During this Coronavirus outbreak, there are still buyers looking on the market yet there are certainly not as many.  For those who are looking to sell right away, a direct sale to 317 Home Buyers will help to save time and money, giving you the peace of mind you need!

Hire A Real Estate Agent

Many homeowners opt to enlist the help of a real estate agent when it comes time to sell their house in Indianapolis. While having an agent can be helpful in certain situations, the associated costs and fees may not always justify the benefits. If you’re willing to cover agent commissions, handle repairs, and wait for a buyer, hiring a real estate agent in Indianapolis could be the right choice. However, if you’re trying to get out of your mortgage quickly, selling directly to a Indianapolis cash home buyer may be more advantageous. Working 317 Home Buyers will facilitate a hassle-free exit from the mortgage on your unwanted property in Indianapolis, at no cost to you.

Rent It Out

Although this isn’t technically a way to get out of your mortgage, putting your place up for rent can alleviate the financial burden of the mortgage payment itself. By finding suitable tenants, you can not only cover your mortgage but also possibly generate passive income from renting out your property. It’s important to note that not all properties are suitable for rentals, and not everyone is suited to being a landlord. However, with the right property management company, you can find reliable tenants, lease out your property, and have them cover your mortgage payments. Nonetheless, it’s crucial to proceed with caution, especially in uncertain times, as eviction procedures may be restricted, even if tenants fail to meet their rental obligations.

Gift It

You don’t necessarily have to give away your house for free, but you can transfer it to someone else who can take over the mortgage. Perhaps there are family members or children who are interested in owning the house. They can either assume the mortgage if feasible, or you can sell it to them for the remaining balance, ensuring your debt is settled without additional charges or penalties. This arrangement benefits you by severing ties with the property so you can get out of your mortgage, while your friend or family member secures a good deal on a property they desire. It’s a mutually beneficial situation for all parties involved.

Rent To Own

Selling your house via rent to own works great for those who want to sell for full market value and don’t mind waiting a while before the home is sold outright.  A rent to own agreement will open the door to numerous potential buyers, giving you better odds of a fast sale at a great price. While you won’t see the entire sale price right away, you will be able to collect a large downpayment, higher than average rent, and guaranteed income for the next 1-2 years. Once the rental term is up, your tenant will have the option to buy the house outright. If they are unable to, the house will remain in your name, and you can either choose to sell it or repeat the rent to own process and rent it out to another individual.

Are you ready to get out of your mortgage in Indianapolis?  Working with 317 Home Buyers will help you achieve that goal. We can help you get out of your mortgage so you don’t have to feel stuck with your unwanted property any longer! If you need to sell your house fast, our team is here to support you!

Opting for a rent-to-own arrangement can be a beneficial solution for homeowners aiming to sell their property at full market value without the urgency of an immediate sale. This approach expands the pool of potential buyers, increasing the likelihood of a quick sale at an optimal price. While the entire sale amount may not be received upfront, you can expect a substantial down payment, elevated rental income, and assured earnings for the next 1-2 years. Upon the conclusion of the rental period, the tenant has the choice to purchase the property outright. If they are unable to do so or choose not to, the property remains under your ownership, offering the flexibility to either sell it or repeat the rent-to-own process with another tenant.

Are you eager to get out of your mortgage? Partnering with a Indianapolis cash home buyer like 317 Home Buyers can help you attain that objective. We specialize in assisting homeowners in exiting their mortgages, alleviating the burden of unwanted property ownership – especially if you need to sell your house fast in Indianapolis. If you’re seeking a quick sale of your house, we’re here to provide comprehensive support every step of the way!

If you want to learn more about how to get out of your mortgage in Indianapolis, reach out to us! We have answers to all of your selling questions! 317-623-4734

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