When you bought your house, you never expected you would be forced into selling your Omaha home against your will. For many Americans, circumstances like this are all too real. Here are few reasons why this might happen to you.
A property is “underwater” if a property owner owes more on a mortgage than the property can currently be sold for. This unfortunate situation is referred to as an “upside-down” mortgage.
It is not the underwater part that is threatening, however. It is the owner who is no longer able to make payments on the full mortgage amount. The mortgage holder may agree to sell the distressed property for less in a short sale.
Forced into selling your home is overwhelmingly stressful on the homeowner. The process of navigating the paperwork and red tape can be arduous. Still, a short sale may be a favorable alternative to foreclosure. It’s usually a less expensive process for the bank, and the impact on the homeowner’s credit may be lessened, though this is not always the case.
There is a new program called Flex Modification from Fannie, and Freddie. For eligible borrowers who are at least 60 days delinquent, the new foreclosure protection program is expected to provide a 20 per cent payment reduction. The program takes effect in late 2017.
The breakdown of a marriage is one of the most life-altering and emotionally draining experiences that a person can ever experience. For a lot of couples the impact on their emotional and financial wellbeing can be devastating. During the divorce process, a fair and equitable division of property is determined. Sometimes, one party will offer to “buy-out” the other party.
More often though, forced into selling your home is the consequence of divorce, and the two split the proceeds. In this case the two parties may want to sell fast, and be on to a new life.
The loss of a close family member is often overwhelming. The sudden loss of a spouse can catch a family off-guard and impact finances in a way that was never planned for.
If financial plans weren’t in place, a loss of income may make affording the family home impossible. This is especially true when one’s spouse passes. Although painful, you may be forced into selling the home.
The death of a parent can present its own unique challenges. A home that once belonged to an elderly parent may need significant repairs and can often be unsellable in its current state.
This could mean the home needs new roofing, electrical work, plumbing repairs, etc., and the laundry list may prove too difficult to resolve for children or other heirs. Again, selling your home may be the only option.
Whether facing a foreclosure, an impending divorce, or the death of a loved one, the experienced professionals at Styl Properties, Inc. can help.
You’ll receive cash for your home in its current condition. There’s no cleaning, no painting, and no costly repairs for you to take care of. Why wait for bank approvals and endless paperwork when we offer a quick closing with all closing costs paid?
We are helping tens of thousands of homeowners every year. We may not be the “traditional” route, but we help and we do it quickly.
Give us a call today at 402.999.0577 to let us know what YOU need help with!