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

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, 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 Virginia.

Professional buyers like those at WeBuyHouses-Quick.com 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 WeBuyHouses-Quick.com, our professionals 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.

Another option is to let a buyer take over your mortgage, this option is often a good choice when someone has inherited a house and needs a solution. You may be able to sell it for more if you let your buyer take over payments, this isn’t for everyone as it does involve having that loan stay on your credit.

Pay the Difference

Another thing you can do if you’re upside-down on your mortgage in VA 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 VA house to professional buyers like those at WeBuyHouses-Quick, you’ll get a fair value and won’t pay any hefty real estate commissions. At WeBuyHouses-Quick, our professional buyers operate with total transparency. At WeBuyHouses-Quick, 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 WeBuyHouses-Quick about selecting the best calendar date for your closing.

At WeBuyHouses-Quick, our professional buyers are the best option if you are upside-down on your mortgage in VA and need to sell. At WeBuyHouses-Quick, 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 VA house. At WeBuyHouses-Quick, we are your neighbors who live and work alongside you, and we are proud of the work we do helping VA 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 WeBuyHouses-Quick for yourself without obligation? Call WeBuyHouses-Quick at (757) 500-3544.

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