Are you having trouble paying your mortgage during COVID? It’s estimated that 400,000 homeowners who qualified for government-backed mortgage forbearance programs failed to take advantage of the benefits and as a result are behind on their mortgages. As we open up 2021, the moratorium on government-backed mortgages has ended. Nationally, an average of 1 in 10 homeowners are behind on their payments. These homeowners are living daily with the possibility of foreclosure and eviction. 2021 is sure to see a flood of foreclosure properties hitting the auction block and if you don’t make swift decisions to take action, you may find yourself among the mass of homeowners whose properties the banks send to auction. If 2020 treated you poorly and you’re having trouble paying your mortgage during COVID you can be ahead of the crowd by selling to a professional buyer before that stage is reached.
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 are having trouble paying your mortgage during COVID in Indianapolis, the time to act is now. As bad as 2020 was, here is 2021 slamming you some more beginning with the demise of your credit, the loss of the equity you’ve built in your property, and being forced to move. If you fail to take appropriate counter measures ahead of the important deadlines which your lender communicates to you, your chance to pull out of the nosedive will be lost. When you’re considering your options, 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 with a closing date you can rely on to avoid foreclosure while saving your credit and financial future.
Investing to Sell
Traditional home sales mean potentially paying thousands of dollars just to present your home on the market. Unless your property is brand new or in superb condition, you will have to complete repairs on blatant issues, and possibly conduct renovations and upgrades to appliances or mechanical systems, such as your furnace and air conditioning. We’ve even heard of some agents making their clients pay for the advertising of their home up front, outside of their commission. 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. 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 your Indianapolis house to an experienced professional buyer, because (at least in the case of our company) you will know our offer will be for the house as-is regardless of its condition, and there won’t be any of these deductions from the price you’re offered like in a conventional sale.
Distress
While it’s easy to quote statistics and gather data to clearly indicate the exact costs of going through all of the steps of foreclosure, calculating the emotional toll isn’t such an easy job. Life during the pandemic has been difficult for everyone, no doubt. If you’re reading this, it’s probably been an especially tough year for you as you’ve struggled to survive financially. 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 sales such as in traditional listings, you have no guarantee of how long it could take for your home to sell, if it sells at all. Not only this, your life is constantly interrupted by showings (you hope – otherwise your house probably won’t sell) 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 your family not only at home but at work and in literally every aspect of your life, which can be devastating. If you’re having trouble paying your Indianapolis mortgage during COVID, why not consider selling now to a professional buyer? Avoid all of the sleepless nights and headaches with other selling options, and make 2021 the year you get freedom.
Having trouble paying your mortgage during COVID? Without decisive action you could lose your house in 2021 — We could help you avoid the looming foreclosure deadlines and lingering trauma to your family from the foreclosure process. If you’re curious to see how 317 Home Buyers can help you send us a message or give us a call today at 317-623-4734!