How To Walk Away From Your Mortgage Obligation and Home

How to Get out of your Utah Mortgage or home loanSome homeowners just want to walk away from their houses and move on. This is understandable considering the current market conditions and extreme decline in home values throughout Utah and the United States.

If you are one of these homeowners, then you might be tempted just to pack up and leave. As appealing as this may sound, It’s not always the best option, especially if you’d like the option to buy another house in the near future.

The fact of the matter is, there are several options available to homeowners who are upside down in their homes with payments that they can no longer afford. By knowing your options, you can avoid the consequences of foreclosure and still walk away from your home — possibly with cash in your hand!

Know Your Options!

The most common foreclosure alternative is to short sale the home. In fact, as of this writing, there were well over 3,500 short sale homes and condos listed for sale in Salt Lake City and throughout Utah. So if you think you are the only one in a less than ideal housing situation — you are definitely not!

If you are familiar with how short sales work, you might be thinking that you’d rather not deal with that process. While a short sale may be your only option, there are other alternatives to foreclosure and ways to walk away from your home like: a deed-in-lieu of foreclosure, cash for keys, loan modification, or a purchase of the house by an outside investor.

How To Find Out The Best Solution For You

Homeowners Servicing Company specializes in helping owners of real estate find solutions to their individual housing situation. By requesting a free confidential consultation with an experienced professional; whether in person or over the phone, we can inform you about the latest programs and let you know your options based on your individual situation.

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