Should I Sell My House Before Paying Off the Mortgage?
Should you sell your house if you have a mortgage? We are glad you asked! We buy houses in Rome GA, so we are experts on this subject. We’ll teach you everything about selling your home with a mortgage-whether it is right for you or not.
First, let’s discuss the benefits of selling your home before paying off the mortgage:
1) You can get cash now instead of waiting years to pay off the loan;
2) If rates go up, then it will be more expensive to borrow money later;
3) You don’t have to worry about having enough equity in order to qualify for an FHA loan after paying down some debt.
On the other hand, there is one major downside to selling your home before paying off the mortgage:
If you sell your home and don’t pay off the mortgage, then you will have to live elsewhere until you can find a new place to buy. This could be a problem if you are not in a position to wait for a new home or if the market is unfavorable when you try to sell again.
In conclusion, it really depends on your personal situation as to whether or not selling your house before paying off the mortgage is right for you. Weigh the pros and cons carefully and make sure that this decision is right for YOU!
We buy houses Rome GA! If you’re thinking of selling, contact us today! We would love to help!
We Are Home Buyers
2417 Garden Lakes NW Blvd Suite E, Rome, GA 30165, United States