Life can get rough at the most unexpected times. Sometimes it hits us and we don’t know what to do. We feel as if we are out of alternatives and we must settle and accept as little as possible. The pandemic that has swept the nation and hit our SC hard was one of those examples that occurred. It came out of nowhere and seems to now live with us. It affected our jobs and opportunities while opening up new possibilities that if we weren’t in a financial rut we could possibly consider.
This can happen to homeowners as well in SC, especially in Columbia. We had a solid economy for the better part of a decade, and then our income suddenly went down or completely disappeared and our mortgage, no matter how good the rate was after refinancing numerous times, did not go down to match that new income level.
We then decided on going into forbearance to buy us time, but that is really just a ticking clock and bill that eventually will need to be paid. Even if it is interest-free, the principal usually needs to be paid back at the end of the forbearance. There are some instances, depending on your mortgage, that you can do forbearance for a year sometimes. Now imagine what happens after that and now you have a mortgage payment due and the lump sum of your forbearance.
If your home is in Columbia the value of your property could be high enough to consider a refinancing option, where you basically will need to absorb that cost again and turn the repayment clock back a year before the forbearance. That can be tough to chew on but it takes you away from the thought of needing to foreclose, and since the value has gone up in Columbia and across the SC then you might have a tough time finding any place to live with a reasonable rate.
Let’s say you aren’t able to refinance and you are approaching foreclosure. A better idea is to definitely try to sell the house if you don’t think you will be able to refinance or pay back the forbearance amount owed on your home. This is a great option for you to liquidate as much as you can, and still, come out cash positive in the end. The major factor that you have working against you is time.
It doesn’t matter but even in Columbia the housing market is not as hot as it can be, due to Americans saving more and being more cautious when making a home purchase. In an industry where it was always skewed towards the buyer, this pandemic only gave them more time. This is a large single purchase for them to make, so they can take the time that you might not have.
This is where We Buy Homes In Columbia comes in. Since we are experts in your housing market especially in Columbia, we know what the value of your home can be and we can help provide a way for you to get liquid a lot sooner. You can even skip the forbearance part, cash out, and move to a place that has more opportunities or is generally more affordable. Don’t feel that you are restricted and basically stuck with a mortgage and home. We only handle all-cash offers, and easily remove the timeframe that comes with selling homes.
You might think that you are getting possibly a lower deal than anticipated, even more so when the pandemic is under control, but that’s speculation versus the reality of the situation now. We work with the Columbia rates and offer a fair deal that is exclusive of some of those pesky additional fees that can creep up such as marketing fees to sell your home or even real estate agent fees that can take a chunk out of your net proceeds.
Don’t waste time considering going into foreclosure when you have an option to remove that burden asap. We at We Buy Homes In Columbia buy several homes every week and always are looking to grow our inventory in Columbia. Don’t hesitate to contact us here 803-887-3783 or via our contact form here 803-887-3783. We will get back to you very quickly and since we know the market so well in Columbia, we can even make an offer that is more than acceptable sooner than you think.
We pay for all of the repairs.
We pay for the closing costs.
We do all of the work, so you don’t have to.
Our goal is to make the whole process no hassle for you, so you can move on with your life and put this house behind you.
We Buy Houses In Columbia, SC In Any Condition, Give Us A Try! Call Us At 803-887-3783 To Get A Fast-Fair Offer On Your House Today!
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