Friday 30 December 2011

‘Cash for home’ on the mind of most home owners

If there was a way to impart, in three words, what is usually on the mind of your average home owner, it could be fairly, and easily, summed up as: CASH FOR HOME. Without question (taking into account the sheer and alarming number of home owners struggling with their mortgage), the three words ‘cash for home’ form the phrase that is most always on the mind of your average home owner. There are, right now, millions of home owners in America who are just now beginning to confront the fact that they are underwater on their mortgage; and most of them do not (and will not) possess the resources needed to climb toward the surface and claim some breathing room.

Given the situation, there are an enormous amount of home owners who are trying to get value while they can, and there are even more home owners who are defiant and staunch in their assessment that waiting is a better bet. As someone who has been working as a cash house buyer for quite a long time, I have to say I’ve never seen a situation quite like this one. But, it goes without saying, that I have a pretty good idea of how smarter decisions can be made – it starts with a good ‘cash for home’ solution.

The first thing that is of the most importance for the struggling home owner is to unload a mortgage if it is no longer, what I like to refer to as, ‘tenable.’ If, on paper, it is simply not realistic to assume that you can afford the note, then you cannot afford it – and trying to ‘afford it’ will spark negative outcomes. In my opinion, it is always best to unload the pressure of that by getting the best value you can get, and by getting it fast.

Here, speed is of the essence, because the quicker you can relieve the burden of your mortgage, and get cash in hand,. The quicker you can, yourself, get back into the market and seek to try and find a better arrangement. As is always the case, there are always positives and negatives within any scenario. Does it suck, straight up, that your house is worth so much less than it was in 2006? Well, yes…But it also means that, when you jump back into the market, with cash in your hand, you’ll be able to find the kinds of deals that will make this adjustment period easier to manage.

In short, as an expert I have my own thoughts regarding what separates my idea of a ‘cash for home’ solution from the rest. I think a good cash for home solution should give the home owner REAL value. I think a good ‘cash for home’ solution should be implemented quickly. And I think that the best ‘cash for home’ solutions are those which help home owners to move on with a clean slate.

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