Selling a home with low equity doesn’t have to be a struggle, especially with My Tennessee Home Solution on your side. We buy houses in Portland, TN, for cash and in any condition, including homes with low property equity. Find out how one local client with limited home equity benefitted from our services and could start fresh.
A Seller’s Struggle
Portland, TN, homeowner Danielle Dwenger was struggling with an underwater mortgage and kept missing payments on her home at 100 Glen Haven Drive. Her home had a high loan-to-value ratio since it needed several expensive repairs and upgrades, including a new HVAC unit plus new paint and flooring.
Assessing the mortgage balance vs. home value led the Dwenger family to explore their options for selling their house despite the number of repairs it needed and issues regarding its negative equity.
The Challenges of Selling a Home With Low Equity
For sellers like the Dwenger family and others dealing with limited home equity, they risk not having many funds after closing their home sale. The home’s market value decreases as the number of necessary repairs goes up while debt on the mortgage continues to climb.
Selling the house as-is means homeowners don’t have to worry about investing in home improvement projects. But after paying off the mortgage, they might have no funds moving forward.
The Benefits of Our Equity Protection Program
The Dwengers were able to alleviate their financial stress and pay off their past-due mortgage payments by selling the home to My Tennessee Home Solution. Our equity protection program, which caters to sellers in homes with low or no equity, proved to be the perfect solution for this client. They qualified for the program and could enjoy the following benefits:
- Selling without paying for home upgrades
- Receiving a cash offer
- Making mortgage payments current
- Receiving additional funds after closing
Homeowners like the Dwenger family can’t deny the value of this program. Thanks to My Tennessee Home Solution, Danielle Dwenger and her family could start a new chapter without the financial burden of staying in their outdated Portland home.
Sellers Experience Relief When Working With Real Estate Investors
If the Dwenger family were to sell their home the traditional way, they’d likely face the threat of foreclosure or accumulate more personal debt. Traditional homebuyers want a house with brand-new updates and a higher market value, which this Portland home lacked. Waiting for the right buyer could cause Danielle to fall further behind on mortgage payments, while making upgrades to sell would worsen her financial situation.
Selling to cash home buyers like My Tennessee Home Solution provides immediate relief knowing you’re guaranteed an offer on your house and can close the sale quickly while making no repairs.
Sell Any Home With My Tennessee Home Solution
Danielle Dwenger’s success story should inspire you to reach out to My Tennessee Home Solution, especially if your home has low or no equity. Contact us today at (615) 933-5431 to see if you qualify for our equity protection program and get a cash offer for your home.
