UNDER WATER? CASH SALE OF YOUR HOME CAN BAIL YOU OUT
New Year = New direction!
Are you one of the many people who are ‘under water’ with their home mortgages? If so, there is good news for you! Selling your home for cash can start you on the road to recovery.
You are not the only homeowner in this position. Frequently, living situations change: job loss or relocation, divorce or death in the family, unexpected illness, inheriting property that you can’t manage. No two stories are exactly the same, but a cash sale can be the answer to problems that come from unexpected life changes.
How Did I Get Here?
Are you wondering how you ever got in this situation? Many others have learned the hard way about the tricks banks use to push homeowners toward foreclosure. Has the bank refused to accept your payment? Has the bank suggested modifying the loan? These can be the beginning of a scheme to cause a homeowner to become delinquent.
Banks or lending institutions may sell the servicing rights to your mortgage to a different servicer when a loan modification is made. The new servicer may not recognize the original modifications you agreed on with the original lender.
Extra fees might be added by the bank for reasons the homeowner can’t learn. Failure to pay new fees can lead to service charges that increase the monthly mortgage payment.
Why would a bank use these tricks?Foreclosure costs the bank less than refinancing or restructuring a loan.
Why would a bank use these tricks? Foreclosure costs the bank less than refinancing or restructuring a loan.
Avoid Foreclosure with Expert Help
Foreclosure leaves a black mark on your credit rating, but selling your property short doesn’t hit as hard. What does it mean to sell a home or property short? It simply means selling, then paying the lender less than what is owed on the loan.
By New Jersey law, there are conditions that must be met before a short sale can take place. A seller who follows the short sale process carefully can avoid the credit problems caused by foreclosure. Laws differ from state to state, so working with a realtor or a short sale attorney is wise. The professional can guide you through the steps of listing the property, gathering hardship information, establishing a price, and negotiating a contract between the seller and a buyer. Are you already in default? Remember: the lender must agree to a short sale. It takes time to put together a short sale; if you delay too long, the foreclosure may happen anyway.
Cash Sale of Your Home: A Quicker Path to a New Start
Is a cash sale better than a short sale? Regardless of the reason for selling your home, there are important advantages to a cash sale. Your property can be sold ‘as is’, a real plus when your property needs maintenance. Also, the closing process is usually quick, because there is no need to wait for the bank to approve financing. Often the cash buyer will cover the costs of closing, as well.
A cash sale of your property can be the place to start a new direction for the New Year!
Do I Qualify?
I owed more on my house in Fairview NJ than it was worth. I was behind on my mortgage too. I wasn’t going to be able to sell the house and pay off the loan as we had bought the house in early 2008, right at the peak. We got notice of pre-foreclosure in October 2015. We tried talking to the bank, but they are just not willing to negotiate. I searched online & contacted Cash Buyer NJ and several other short sale attorneys. The attorneys wanted to charge upfront fees. Kanishk immediately understood what was needed to stop the foreclosure. They did not demand any fees upfront. His team was able to negotiate a short sale that left me owing nothing to the bank. We got a small relocation fee for our move to PA. Best of all, the loan pay-off was not taxable to me. So we got rid of a headache and moved to a place more affordable. Thanks a ton!
– Edgar H. from Fairview NJ
We were behind on our mortgage payments due to a job loss and a sick child. Despite being behind on payments, the lender kept insisting that we would have to pay and only then they wouldn’t work to negotiate our short sale. We tried to make ends meet, but it was not easy. This guy Ken from CashBuyer NJ sent me a mailing. After I called their number from Facebook ad, they went right to work like anything! He is very hardworking man and will deliver. They were able to show the lender that I was in dire straits. They brought a cash buyer and created a deal that was better than anything I could have hoped for. The bank did not have to foreclose. I don’t know what I would have done without his understanding of the law, his compassion for my situation, and ability to negotiate with the lender.
– Juana U. from West New York NJ
Our a-hole lender was pushing for us to use them as a way to pay the difference between what the house was worth and what we owed. I found Cash buyer NJ online. They were able to use an attorney and an agent to negotiate a sale with the lender that allowed us to keep our other assets. BTW, this was a national lender so they have a lot of power with their negotiators and attorneys.
– Rado V. from North Bergen NJ
Do I Qualify?