Think about your past. Has everything gone as you planned that it would? Have there been twists and turns that have defined the ways that you think about things now?
In reality, life is very unpredictable, and so is the value of your mortgage note. Sadly enough, there are far more negative things that can affect the value of your property between now and the time when your mortgage balance is finally paid off. If you’ve been tempted to sell your note early, but were talked out of it for some reason, you’re in the right place.
We’ll show you 5 reasons to consider selling your note now to make the most out of your investment in consideration of your future:
1. Your balance now is the highest that your house will ever be valued.
While your note balance decreases, so does the cumulative pay price, and you’re typically better off getting the chunk of cash you want now, despite what lenders have probably told you. In reality, you’ll get the best quote on your property when your balance is higher, which is why it’s generally better to sell your note for cash now (with the remaining balance in tact rather than a whole note sell later on.
2. Inflation will inevitably make your home worth less over time.
The value of the dollar is going to go down- statistically. You should expect the value of your house to dwindle, even in the unlikely occurrence of some fantastic economic upturn (we think you’ll agree that it’s unlikely). Inflation is almost guaranteed as the Federal Reserve resorts to printing more money.
3. Sometimes it’s impossible to foresee financial difficulty and possibly defaulting.
Even if you’ve got a stable job, good credit history, pay history, healthy and saved money, there’s always a chance of circumstances (out of your control) that could drastically affect your ability to make timely payments, and if you default, it’s unlikely you’ll be able to sell when you want.
4. Your property could decrease in value, more than you’d think.
Trends have said that real estate is back on the upswing in late 2015, but the location and condition of your home affect the price more than anything else. Your note loan gives your home more selling power, because the bank has a set “price” for your home. As the property value decreases so does the loan-to-value ratings.
5. Changes to buying status and criteria could ruin your chances to sell.
Smart sellers never count their chickens before they hatch, because brokers are constantly changing criteria and making new deals. Sells today don’t necessarily equate to sells at a later date, especially in changing markets.
Don’t get caught in a loser’s market. Take our 5 reasons to consider selling your note now to heart; and make the smart decision to secure your financial future NOW and get the home that you really want.
