4 Things to Do if You Are Upside Down on Your Mortgage in Las Vegas, NV
Whether you overpaid for a property in a competitive market, fell behind on mortgage payments, or the value of your home has decreased, being upside-down on your mortgage—owing more than the current market value—can put homeowners in a difficult situation. If foreclosure is looming, or circumstances force you to sell your house, it’s understandable to feel like your options are limited. In such moments, it’s crucial to avoid making costly mistakes.
To help you make the right decision, we’ve outlined four options to consider if you find yourself upside-down on your mortgage in Las Vegas, NV. Being well-informed will give you confidence in whichever path you choose.
Assessment
The first step if you’re upside-down on your mortgage in Las Vegas is to assess your current financial standing. Contact your lender to get the exact amount you owe and hire a professional appraiser to determine your home’s current market value.
At RjRebel Real Estate Investments, we believe in empowering homeowners to make informed decisions. We’ll help you compare what you could earn by listing your property versus a direct sale to us for cash. When you work with us, you can avoid the hassle of preparing, cleaning, and repairing your home for sale. Our team is transparent and will provide all the details on how we calculate our offer, so you’ll feel confident that it’s fair and in your best interest.
Short Sale
If you’re upside-down on your mortgage in Las Vegas, another option to explore is a short sale. While it may impact your credit, it’s far less damaging than foreclosure or bankruptcy. Negotiating a short sale can be tricky, but our professional buyers at RjRebel Real Estate Investments are experienced in working with lenders to find solutions.
With a direct sale to us, you’ll have a smooth and stress-free experience, avoiding the drawn-out process of a traditional sale. We’ll handle negotiations with your lender and ensure a quick resolution to your selling troubles in Las Vegas.
Pay the Difference
Another option when upside-down on your mortgage is to sell the property and cover the difference between the sale price and your remaining mortgage balance at closing. Though this may seem daunting, it could be a viable way to move on from your property.
At RjRebel Real Estate Investments, we ensure you get a fair offer with no hidden fees or real estate commissions. Plus, our in-house team of professionals covers all closing costs, and we guarantee a fast closing. If you need more time, we’re flexible and can work with your schedule to find the ideal closing date.
Direct Sale for Cash
If you’re looking for a fast and hassle-free option, a direct sale to RjRebel Real Estate Investments may be the best choice. We stop everything to listen to your concerns and find the best solution for your situation. As your neighbors in Las Vegas, we’re committed to helping you move forward with tailored solutions, one homeowner at a time.
There’s no obligation when you talk to one of our professional buyers, so why not learn more? Call RjRebel Real Estate Investments at (866) 718-3427 today to see how a direct sale can help you.
