If You’re Faced With a Mortgage You Can’t Afford, You Have Options

I know when communications between home owners and banks get tense, we begin to assume the absolute worst in each other. Many people who are several months behind on their mortgage payments assume the bank wants to foreclose on them. In most cases this could not be further from the truth.

Some people, for instance, think that the bank wants to foreclose if there is equity in the home since the bank can sell it for a profit. This is typically false since the bank must spend quite a bit of money on the entire foreclosure process, prepare the home for sale, and then market it. Most banks would rather be doing “bank things” from the comfort of their fancy offices, not seizing homes in all kinds of condition across America and having to expend time and resources to selling them.

If you speak with your bank, the most probable response will be someone on the other end of the phone line trying to make a deal with you. A home foreclosure usually takes a long time, so even if you do not see eye to eye, you probably have enough time to think things through and come up with a solution that is good for you.

Things You Can Do If You Can’t Afford Your Mortgage

So what can you do if you can’t afford your mortgage?

If you Can Sell Quickly, Do it!

If you can’t afford to pay your mortgage but have equity in the home, your best option is to sell the home immediately. This places all the burden that banks don’t want onto yourself, but it is worth it if it means sparing your credit and saving any profit that may be there for you if you can get the price you want for the home on the market. If you allow the bank to take the home, you will get none of the profit when they sell it; even if there was lots of equity in it!

If you want to do this by yourself, you can pay for an appraisal and pay to hire a lawyer to postpone the court proceedings required for the bank to finalize the foreclosure. A much easier but more costly way is to let a realtor sell the home. The realtor will communicate with the bank and take on the paperwork on your behalf (for a percentage of the home sale, of course).

Highest Cash Offer is Fast Becoming the Popular Choice

Highest Cash Offer is the simplest way to sell a home quickly when facing the impending threat of the bank claiming the home. If you send HighestCashOffer.com your information and schedule a time for an in person visit with one of our agents, you will discover that getting out from under this mortgage may be done within a few weeks.

The appraisal we perform costs you nothing. We will make you an offer and you can choose to accept it or not. At no point will there ever be pressure to sell your home to us. You are in the driver’s seat.