I'm in Forbearance. What happens when I sell my house?

Mortgage forbearance is a process by which homeowners can get relief from their mortgage payments for a temporary period of time. This can be helpful for those who have fallen behind on their mortgage payments and are at risk of losing their home, as it gives them some breathing room to get back on track. However, mortgage forbearance does not last forever and eventually comes to an end. What happens to homeowners who need to sell their house after the end of their mortgage forbearance?

There are a few things to consider in this situation. Is the value of your home capable of paying of your mortgage when you sell? This is the key to a property exit. If you are underwater in your home equity there are options:

• Refinance
• Reallocate your debt
• Seek assistance through local associations
• Work with a creative investor

Refinance: If you are able to stay in your home, refinancing may be the best option. This will lower your mortgage payments and give you some financial relief.

Reallocate your debt: If you are unable to stay in your home, another option is to reallocate your debt. You can do this by working with a mortgage specialist who can help you find a new mortgage that better suits your needs.

Seek assistance through local associations: There are many local associations that offer assistance to homeowners who are struggling with their mortgage payments. These organizations can offer advice and support to help you get back on track.

Work with a creative investor: Although you may be underwater in your home, there are creative options that can allow you to sell still. An experienced real estate investment team, like Zion REI, can assist you working through a difficult situation. If you just want to be done, sell quickly, or need help with a solution, we may be able to serve you.

If you are underwater in your mortgage, it is important to seek help as soon as possible. The options available to you may be different based on your individual situation, but there is always a solution. Don't wait until it's too late.

Zion REI is a real estate investment company that buys and sells houses quickly and easily. If you are struggling with your mortgage or just want to sell your house, we can help. Contact us today for more information!

If you are a homeowner who is facing the end of your mortgage forbearance, there are options available to you. Be sure to explore all of your options before making any decisions, as each situation is unique.