What To Do If Your Kansas City Mortgage Is Underwater

House in a fish bowl of water
House Underwater

What does it mean when your Kansas City mortgage is underwater? When you hear the reference to your mortgage being underwater, it means that the amount you owe on the mortgage loan is more than the property’s current market value. In time, this should correct itself as you make payments towards your principle mortgage balance and the market appreciates a little bit so that you may have some equity. However, what if something happens and you really need to sell your house today? Many motivating factors lead homeowners to sell, such as moving long distances to be nearer to family, a sudden job relocation or loss, or difficulty making payments.

In life, we face a lot of stressors, but selling your home can be extremely stressful, expensive, and time-consuming, especially if you are not confident about the process or have the right professionals to help you. Since it is a very large financial transaction, you want to make the best deal possible, despite your circumstances. Understandably, when their mortgage is underwater, sellers feel scared and overwhelmed. Our goal is to help you understand your choices so that you can move forward and confidently make decisions. A few options are available if you’re facing difficulty making payments or if you were presented with an unexpected change in your life that is forcing you to sell right now. If you should find that your Kansas City mortgage is underwater, read on as we explore some of your options.

Lender Options

If your Kansas City mortgage is underwater and you can’t make the payments or are at risk of foreclosure, one option is to discuss your situation with your lender to find out what they can do to help. They may be able to provide you with a loan modification, short sale, or submitting a deed in lieu of foreclosure. It’s best to enter any of these processes with your eyes wide open to the realities of what a lender will require of you. In addition, you should understand any long term negative consequences that might occur, including the effect on your credit score. We believe that it is always best to avoid foreclosure even if you think it won’t matter to you. Angel and Jeramie at Mastiff Home Buyers , can help you understand your options and weigh the pros and cons of each course of action.

Sell The Property

Selling is one option that you have if your Kansas City mortgage is underwater. You could list the property and sell to avoid the hassles of negotiating with your lender, the paperwork, and jumping through hoops to meet deadlines and satisfy the lender. This might be an option if you are dealing with some other situation besides foreclosure and have a little bit of time. You may be aware well ahead of time if you must relocate for your job or you may have time to plan to move to care for a sick family member.

If you don’t want to list or don’t have time, you can find a Kansas City cash home buyer and sell the property directly. With a direct sale, you also avoid spending any cash out of pocket to prep, make repairs or pay for costly marketing expenses and real estate commissions. Cash home buyers like Angel and Jeramie at Mastiff Home Buyers buy houses in as-is condition and take on all the risks. We never charge commissions and there are no hidden fees to come out of your pocket. You don’t even have to pay closing costs. We always work quickly and efficiently and provide sellers who have a Kansas City mortgage underwater with a guaranteed closing date.

Mastiff Home Buyers

A direct sale to Mastiff Home Buyers is the best way to sell if your Kansas City mortgage is underwater. Besides direct sale, we have other options that we can offer to you as solutions as well. We make working with us easy with straightforward contracts, and a solution that works for you. We work with total transparency because we want what is best for you, the seller; we’re proud of our work helping Kansas City sellers deal with problems selling their houses. We are your neighbors who live and work alongside you here in Kansas City , and we want you to feel good about working with us long after closing. We will meet with you, sometimes several times to make sure you understand the solution that is being offered to you. We are not in a hurry to rush you into making a decision. We will consult with you free of charge and with no obligation to provide what solutions are available that might work for you. We also encourage you you to compare what you would profit from each option and decide what works best, given your current personal and financial situation. Call Mastiff Home Buyers at (816) 535-0076 .

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