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4 Things to do if You Are Upside-Down on Your Mortgage in CA

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 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. 

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 CA.

Assessment

The first thing you can do if you are upside-down on your mortgage in CA 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 H&M Realty Group 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. At H&M Realty Group, 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 CA; 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 H&M Realty Group are highly seasoned negotiators who can work out a short sale with your lender. A direct sale to one of our professional buyers at H&M Realty Group makes it easy to solve your home selling troubles in CA.

Pay the Difference

Another thing you can do if you’re upside-down on your mortgage in CA 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 CA house to professional buyers like those at H&M Realty Group, you’ll get a fair value and won’t pay any hefty real estate commissions. At H&M Realty Group, our professional buyers operate with total transparency. At H&M Realty Group, there are no hidden fees, and because of our full-service in-house team of industry specialists, you won’t pay any closing costs, and we can provide you with a fast, guaranteed closing day. Or talk to your professional buyer from H&M Realty Group about selecting the best calendar date for your closing.

At H&M Realty Group, our professional buyers are the best option if you are upside-down on your mortgage in CA and need to sell. At H&M Realty Group, our professional buyers 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 CA house. At H&M Realty Group, we are your neighbors who live and work alongside you, and we are proud of the work we do helping CA 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 H&M Realty Group for yourself without obligation? Call H&M Realty Group at 949-625-4533.

Find me on BiggerPockets here: Joe on Bigger Pockets

My Schedulehttps://calendly.com/joepellego if you would like a “one on one” appointment with me.

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Joe

Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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