Sell My House

All too often in the current economy, many Americans have become distressed to learn that the market value of their house is less than what they owe on it. Has this happened to you? If so, you’re not alone. Many distressed homeowners want to know how to get out of a mortgage.

Sell My House Options Thinking You Need to Sell Your House Fast? Keep Reading to Determine -Your- Best OptionThis upside down mortgage situation means that more homeowners than ever find themselves facing home foreclosure.

Fact: Approximately, 1 in 3 homeowners owe more on their house than what it is worth in the local real estate market. That’s 33% of homeowners…

While many just want the situation to go away, unfortunately it is just not a realistic outcome.

What options are available to you?

Typical Options To “Sell My House” Situations…

Countless homeowners hope their lender will agree to a loan modification. But, too often, we hear about lenders being less than responsive to homeowner requests for loan modification…even with recent pressure from government.

As a distressed homeowner, you are wise to consider other options to prevent foreclosure…should a loan modification or some other agreement not be in the cards. Naturally, this includes options where you as the homeowner no longer stay in the house.

As homeowners seek a way out of this stressful situation, they learn about the usual unfavorable options:

  • Foreclosure (or walk-away) – Your house goes back to the bank. Your credit score takes a significant hit for 7+ years. You likely won’t be financing another home anytime in the 7+ years.
  • Deed-in-Lieu – “Deed-In-Lieu” or “Deed-in-Lieu of Foreclosure” is an agreement between the lender and the borrower that allows for the transfer of the legal title of the borrower’s property to the lender…in consideration for the forgiveness of the mortgage debt. Your credit score takes a hit. And, the lender is not obligated to proceed with the deed-in-lieu of foreclosure until a final agreement is reached…which may not occur. You may be liable for taxes.
  • Sell to a Real Estate Investor – A typical real estate investor will only pay you 60-70% of the market value of your house, as they will want to make a profit when they flip your house. You’ll have to come up with the difference at closing for what your house sold for to the investor and what you owe. Not in the realm of possibility for most distressed homeowners.
  • Short Sale – In a short sale, your home gets listed for sale. It can take 3-6 months or more to know if it works. Things can go wrong, including the lender changing their mind at any time…putting you’re back at square one. Your credit score is damaged for 2+ years. You likely will not be able to finance another home in the 2+ years. And, you are likely taxed on the difference between what the house sells for…and what you owe.
  • Bankruptcy – Although an option, bankruptcy is a virtual death-blow to your credit score for 10+ years. Forget financing just about anything for 10+ years. Despite bankruptcy status, some courts rule that homeowners are still liable for the amount owed after a certain amount of time passes.

But, there’s another option that many distressed homeowner think is better…

Assignment of Mortgage Payments

You may be thinking, “Sell my house fast“. To their detriment, uninformed homeowners tend to think a quick sale is their only option. As you probably know, selling a house typically takes 6+ months…if you can find a buyer. But, you don’t have that kind of time. The good news is that you are not the typical homeowner needing fast action because you are about to discover the Assignment of Mortgage Payments Option (AMPS). The AMPS option has been described by real estate expert Phill Grove as the “least worst” option a distressed homeowner has. That is to say, many distressed homeowners have indicated the “Assignment of Mortgage Payments” option is often the most favorable option they have.

How AMPS Works…

Pacific Property Investments “Assignment of Mortgage Payments System” essentially transfers the responsibility of making monthly mortgage payments under existing financing to someone else. The benefit to you is that you are able to quickly walk-away from your house without a credit score hit…or having to bring cash to closing.

Here’s Who Makes The Payments with AMPS…

Many home buyers are able to make monthly home payments, but they find it challenging to qualify for conventional home financing. This includes small business owners, doctors, lawyers, and other self-employed professionals who have money and credit, but do not have a W-2 type of job…or may have a minor blemish on their credit report.

Pacific Property Investments “Assignment of Mortgage Payments System” matches home buyers with homeowners who want out of their mortgage. It’s all done-for-you.

The home buyer occupies the home making all of the monthly payments under the original homeowner’s financing. And, you are able to get on with your life.

The home buyer continues making monthly mortgage payments, proving to lenders that they are worthy of traditional financing. Eventually, they arrange financing and they purchase the home at full price…retiring the existing loan.

What To Do Now…

It doesn’t matter where you are located in the United States. If you want to know more about the Pacific Property Investments “Assignment of Mortgage Payments System”, contact Michael Baum now at (562) 424-2286. Together, we’ll discuss your situation. Without obligation.

Get started on the rest of your life. Call now!

Michael Baum (562) 42-4BAUM (2286) (or use the handy contact form to the right)

(We recommend that you always check with your attorney, CPA, etc. to discuss what’s best for your situation.)

Filed Under: Sell My House

Save