We Buy Houses!

Current home sellers know that they may have to wait longer to find a buyer these days.  The days on market (DOM) in the greater DC area is declining, but if you have a “situation” and want or need to sell now, even a couple months is a long time to wait.

When you are in a jam, there are always people willing to exploit your plight, but the so-called helpers aren’t always honest.  You may need help, but you don’t want to make things worse by hooking up with a company that either can’t deliver or has no intention of delivering once it has your money.

If you are in a position where you want to sell your home quickly, Express Homebuyers is an honest company with both reputation and resource.  We will buy it from you for cash and complete your deal within a couple weeks. There is no charge for our services. And, we are Better Business Bureau accredited.

Who uses Express Homebuyers?  Many different kinds of people!

• People who have trouble selling because they do not have equity in their home.
  • Those who have experienced the death of a loved one or the need to settle an estate.
  • People who are tired of being a landlord.
  • Those who need to sell because of a divorce.
  • People who are behind on payments or facing foreclosure.
  • Anyone who bought a new home, but can’t sell the old one.
  • People who own vacant houses or houses that need repairs.
  • Those with liens or title problems.
  • People working with a real estate agent who hasn’t come through as promised.
  • Anyone facing a job transfer or relocation.

People from all walks of life who share the need or desire to sell their homes, regardless of repairs needed, can sell for cash, close quickly, and sell to a reliable company accredited by the Better Business Bureau – Express Homebuyers. Contact us today at 877-804-5252 or visit our website to get the process started.  We can wrap up your deal in a couple weeks and even offer you a $2,500 cash advance to help you plan your move.

Reduce your personal DOM today!

A study by the New York Federal Reserve Bank has confirmed what the man on the street has known all along: loan modifications would have a better chance of working if the principle was lowered.  Current programs, which just lower the interest and extend the terms, are likely to fail.

Specifically, the researchers found that if a payment is lowered by 25% because the interest rate was cut, the homeowner is 11% less likely to default.  If the 25% deduction is due to reducing the principle while cutting the interest a little, the homeowner is 27% less likely to default within one year.  Reducing the principle doubles the potential rate of success.

Lenders and the investors who bought the loans are reluctant to lower the principle, even though the dollars and cents of foreclosure are clear: it costs more to foreclose and then maintain a bank-owned home until sold than to cut their losses by making a deal with the home owner.

Homeowners are acutely aware that the value of their home has dropped in comparison to the loan value.  Nationwide, at least 23% of homeowners had negative equity in their homes by the third quarter of 2009.  The Fed Study found that the more “underwater” a borrower is, the more likely he is to default.  When their loan–to-value (LTV) is 115%, homeowners owe 15% more than the home is worth and are 51% more likely to default on a modified loan.  When they have positive equity, they are more likely to keep the terms of the modification.

It comes down to incentive.  If people are paying on a deeply underwater home, they have less financial stake in paying on the loan than those who would lose their own money if they defaulted.  No one wants a foreclosure, but those with positive LTV would lose their equity along with the home in case of default and ultimate foreclosure.

Some analysts think the study could result in a rethinking of federal housing rescue plans.  Currently, the Home Affordable Modification Program (HAMP) stresses lowering interest and lengthening the mortgage but does not push for principle reduction.  If lessening the principle to get the home more in line with current market values is the key to successful mortgage modification, existing programs are doomed to failure or at least will have minimal long term effectiveness.  The program must encourage people to make the choice to pay rather than default.  Hopefully, future modifications of HAMP will tackle the thorny issue of underwater mortgage head on.

Facing the potential of having to sell your home? Express Homebuyers will buy your home for cash and have your deal wrapped up in two weeks .  Check our website for some useful secrets on selling your house fast. Then give us a call at 1-877-804-5252. We buy houses as a business. We pay cash, and you can sell your house fast to avoid the hassle of loan modification.