So long as you have a steady income (which means not out on furlough or unemployed), and a pre-pandemic credit rating of 680 and above, banks are still making mortgage loans. That means you can downsize, lower your payments, and with a bit of creativity take money out of your home and set it aside as a rainy day fund or cash reserve.
Example:
Sell your $500,000 home,
Downsize to a $450,000 home
Sell 1/3 of future appreciation to an investor for $45,000
Put $20,000 toward the house and $25,000 in the bank
Click
here to see a valuation on your home. Note: this is from
a computer and not from a person who has seen your
home. It is a beginning. We need to see your
house to assess its true value and give you a suggested
listing strategy.
Click here
to see a list of current under-priced properties for
sale in the MLS.
Or click here
to begin searching for new homes.
Investors such as Unison,
Point, HomeTap
and more will pay you cash today to share in the future
appreciation of your new home. Typically they want
roughly 35% of the future appreciation in return for
giving you 10% of the purchase price of the home in
CASH. You pay them ZERO until the house is sold (or
when the typically 30 year agreement expires). Only
then do you repay the cash and appreciation share.
Use some or all of the
money you take out to set up a rainy day fund. The
monies can also be used to help you avoid PMI requirements
(and thus lower your monthly costs.
Click here to begin
calculating just how much house you can afford.
Our team has been helping real estate buyers and
seller for almost two decades. We have been through prior
crises and market setbacks. We know what it means to sell
a house at short sale, to face the risk of credit ruin and even
bankruptcy. We have done transactions with the "shared
equity" investors. You are not in this alone. We can
take on some of the burden and relieve your stress.
Click Here and reach out today.
