5 Benefits of a Sell and Stay Program
There are many that stray from alternative financing with a home. However, if you are facing foreclosure or want to change your lending situation, then you may want to look at other options. A sell and stay program can provide you with the perfect solution for your home. Understanding these benefits to this option can help you to make the next strategic move needed for your property.
1. Sell your home fast. The sell and stay program allows you to get out of a default loan within 90 days. This means that you will no longer be obligated to pay the lease of your property, specifically which benefits you if you can’t afford the payments.
2. Raise your credit score. If your loan moves out of default before a foreclosure, then you raise your credit score. If you go through a foreclosure, you will have a bad rating for over 7 years. To approve for more loans in the future, the sell and stay program can support your financial needs.
3. Pay monthly market price. Often, lending programs require a higher payment to pay off the home in a certain period of time. When you work with a sell and stay program you will rent back the home that you sold. This means that you will only pay the fair value price for the property you are in.
4. Maintain your lifestyle. The concern that most have with selling their home is that it uproots their lives. If you can’t afford this, than the sell and stay program will help you to maintain your livelihood without the inconveniences of moving.
5. Recover your property. There is not another program that allows you to easily recover your property, loans or other needs. The sell and stay program is an invitation to maintain your home while starting with a fresh contract. If you need to recover, then this may offer the best solution for your home.
If you are defaulting on a loan or financial circumstances don’t provide you with the necessary payments, then you can look at the sell and stay program. This is a simple way to take back your property without the consequences of a foreclosure. Understanding the benefits of this alternative financing option can help you to make your next move towards a better lifestyle.