Dealing with Two Mortgages in Lancaster, TX
Are you sitting on two mortgages? The average home value for a home in Lancaster, Texas is about $159,500. If this number is doubled, you could be in quite a financial dilemma1. This is why you may need to sell your house fast in Lancaster, Texas. However, unfortunately, many people find themselves in this situation. Buying and selling a home rarely goes as planned. In a perfect world, you would close on your current home right when it is time to move into your new home. However, it is not a perfect world, and the perfect new home rarely comes at the most opportune moment. This is how people get roped into paying double mortgages. If this is you, you need to sell that house fast, because along with that double mortgage comes double everything else.
Twice the Costs
Utilities – While the usage of utilities decreases when you are no longer inhabiting a house, the bill is still likely to come. Even if you are not using your heater or warm water, your realtor is showing your house to prospective buyers, and generating a new bill. Electricity – Like utilities, this bill continues to generate even if you are not living in the home. It is hard to sell a home with no lights, so it is unlikely that you can simply turn the electricity off until that house is sold. Trash Collection – Once again, even if you are not living in the home, the trash man is making the drive by the house once a week, and someone has to pay that bill. This is a charge that most homeowners face. Unfortunately, you still have to pay for this service in both houses if you do not sell your old home in time. Community Fees – Many communities charge either annual or monthly charges for people who live there. This might be to mow the grass or keep the roads freshly paved. No matter what the charge is for, someone has to pay it, and as the current owner of the home, that will be your responsibility whether you currently live in the home or not. Home Insurance – Many people still choose to keep the home they are trying to sell insured even when they move out of the home until someone else closes on the home. This is because any damage that occurs on or in the home will be the seller’s responsibility until the buyers close the sale. This means if the home experiences a tornado, a break-in, or a fire the seller will have to cover the damages. Because of this, many still keep the home insured, but that doesn’t mean the cost of insurance won’t be doubled if you own two homes. If you are sitting on double mortgages, you need to get out from under one of your homes and you likely to do it quickly. Afterall, it is not just the mortgage you are paying, but also the extra fees that go along with home ownership. Contact HomeGo today to find another option to the traditional and slow real estate process.