Whether you OVERPAID for the property in a bidding war, you’ve fallen behind on mortgage payments, or property values have dipped, being upside down on your mortgage or owing more than the current market value is a less-than-ideal situation for homeowners.
If circumstances force you to sell your house due to foreclosure instead of waiting out a market turnaround for values to rise, you may feel backed into a corner.
Understandably, you don’t want to make a costly misstep when faced with this dilemma, so exploring your options is helpful.
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With so many decisions ahead, being fully informed and weighing the benefits of each will help you feel confident in the action you take.
So read on as we explore four things you can do if you are upside down on your mortgage in New Jersey.
Assessment
The first thing you can do if you are upside-down on your mortgage in New Jersey is to get a realistic picture of where you stand.
Then, contact your lender for the amount owing on the mortgage and schedule a professional appraiser so that you’ll work with exact numbers.
Professional buyers like those at Jeff Buys Houses Cash want you to make an educated decision about your future, so they’ll compare what you could earn from listing vs. our offer to buy your house directly as-is for cash, and you can skip the prep, cleaning, and repairs.
Our professional buyers provide all the details used to calculate our offer because we want you to agree it is fair and feel good about working with us long after closing.
Short Sale
Naturally, you want to try every option if you are upside-down on your mortgage in New Jersey; while a short sale has some consequences, they don’t compare to the fallout from claiming bankruptcy or a foreclosure on your credit record.
Professional buyers like those at Jeff Buys Houses Cash are highly seasoned negotiators who can work out a short sale with your lender.
Selling your home directly to one of our professional buyers at Jeff Buys Houses Cash makes it easy to solve your home-selling troubles in New Jersey.
Pay the Difference
Another thing you can do if you’re upside-down on your mortgage in New Jersey is to sell the property and bring the amount owing to the closing table to pay off the remainder of the mortgage.
With a direct sale of your New Jersey house to professional buyers like those at Jeff Buys Houses Cash, you’ll get fair value and won’t pay any hefty real estate commissions.
Our professional buyers operate with total transparency.
There are No Hidden Fees, and because of our full-service in-house team of industry specialists, you won’t pay any closing costs.
We can provide you with a fast, guaranteed closing day.
You can also talk to your professional buyer from Jeff Buys Houses Cash about selecting the best calendar date for your closing.
At Jeff Buys Houses Cash, our professional buyers are the best option if you are upside-down on your mortgage and need to sell.
We stop everything and listen to sellers to help find the best resolution for your situation.
Feel free to ask us any questions or express any concerns you may have about the process of a direct sale of your house.
We are your neighbors who live and work alongside you, and we are proud of the work we do helping New Jersey sellers with unique and individualized solutions, one seller, one property at a time.
So why learn more about the difference a direct sale of your house can make by talking with a professional buyer from Jeff Buys Houses Cash for yourself without obligation? Call Jeff Buys Houses Cash at (856) 281-1157.
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Simple Solutions for Homeowners Upside Down on Their Mortgage
As a seasoned real estate investor from Cherry Hill, New Jersey, I’ve witnessed numerous homeowners struggling to keep up with mortgage payments.
Being “upside down on your mortgage” is a stressful and daunting situation, occurring when homeowners owe more on their mortgage than their property’s current market value.
This predicament often leads to foreclosure.
At Jeff Buys Houses Cash, we specialize in providing timely solutions to alleviate financial burdens.
Understanding the Challenge
Homeowners facing this issue typically experience significant financial strain. Common causes include:
- Job loss or reduced income
- Medical emergencies or illness
- Divorce or separation
- Adjustable-rate mortgage increases
- Negative equity from market fluctuations
These factors can quickly spiral out of control, making mortgage payments unmanageable.
Consequences of Foreclosure
Foreclosure severely impacts credit scores and financial stability.
Its’ far-reaching effects include:
- Credit score reduction (up to 300 points)
- Financial difficulties for years
- Potential tax implications
- Emotional distress and mental health concerns
Foreclosure also affects future financial opportunities, such as securing loans or credit.
Jeff Buys Houses Cash Solutions
Jeff, an experienced local cash buyer with over 35 years of investing and foreclosure expertise, has helped numerous homeowners in New Jersey and Pennsylvania avoid foreclosure.
His reputable company offers:
- Quick closings (typically 14-28 days)
- Cash payments for properties
- No realtor commissions or fees
- Personalized guidance through the process
Jeff’s expertise provides homeowners relief from financial burdens, ensuring a smooth transition.
Benefits of Working with Jeff
- Avoid foreclosure and protect credit scores
- Stop accumulating debt from missed payments
- Relieve stress with a hassle-free sale
- Receive fair market value for properties
- Expedited closing process
Collaborating with Jeff Buys Houses Cash offers a lifeline for overwhelmed homeowners.
The Process
To initiate the process:
- Contact Jeff directly (phone or email)
- Fill out the online form
- Schedule a personalized consultation
Jeff will assess your situation, providing tailored guidance.
Reclaim Financial Stability
Being upside down on your mortgage doesn’t guarantee foreclosure.
With Jeff’s guidance, homeowners navigate challenging situations effectively.
His proven foreclosure solutions ensure financial relief.
Real-Life Success Stories
Numerous homeowners have benefited from Jeff’s expertise:
“Jeff helped us avoid foreclosure, saving our credit and sanity.” – Rose, NJ
“Jeff’s swift process relieved our financial stress.” – Dan, PA
Additional Resources
For homeowners requiring additional guidance:
- National Foundation for Credit Counseling (NFCC)
- Federal Housing Administration (FHA)
- Local non-profit housing organizations
Stay informed, take control, and secure a financial fresh start with Jeff Buys Houses Cash.
Conclusion
Don’t let mortgage struggles overwhelm you.
Upside down on your mortgage?
Reach out to Jeff Buys Houses Cash today.
Phone: (856) 281-1157
Website: JeffBuysHousesCash.com
Jeff’s dedication ensures homeowners regain financial stability. Act now to protect your future.
Contact Information
Jeff Buys Houses Cash
Phone: (856) 281-1157
Email: sellitasis@jeffbuyshouses.com
Website: JeffBuysHousesCash.com