Mortgage Assignment Program
No Equity? No Problem! - We can take over
your payments!
A Mortgage Assignment is the sale of a home
where the loans/liens are assigned to a buyer in exchange for the
deed (ownership) For the Seller, the advantages include getting out
of a home where there is no equity or the payments are no longer
affordable, especially for a home that won't sell because it may be
up-side-down in financing. The advantages for the buyer
include purchasing a home they can afford without going through
conventional bank financing. GC Investments can take over your
payments and facilitate an assignment of mortgage.
What are the Benefits of the GC
Investments Mortgage Assignment Program?
- Allows a
homeowner to sell a difficult to sell home – quickly!
- Better than
the conventional alternatives:
- Avoids a foreclosure – in cases where homeowner can no
longer afford a
home
- In most cases the Seller will need to bring little or no
money to closing – in cases
where the home has little, no, or negative equity
- Superior to renting – because home is actually SOLD,
seller does not have to
worry about maintaining the home going forward
What
is the Profile of a Typical Mortgage Assignment Candidate?
- Difficult to sell home – due to the home having little, no,
or negative
equity,
or simply a home that is hard to sell size, or location, or a home
in a down
market, etc.
Needs to sell more quickly than is typical using conventional
list and wait method
Bought or built a new home with a $0/down (or minimal down)
mortgage in an area
that has not appreciated
Refinanced an existing home, borrowing most of the equity, in an
area that has not
appreciated
Bought a home in an area that has seen significant price
reductions
Has suffered a divorce, lost job, medical problems, or other
financial hardship including
any combination of an increase in expenses and/or decrease in
income
Has a non-owner occupied investment property that is no longer
performing to generate
positive cash flow
Has an Adjustable Rate Mortgage (ARM) in which the payments have
increased to
an unaffordable level
Has had an increase in payment due to an escrow shortage
adjusted after tax increases,
or an under-funded escrow from the purchase of a new home
What
are the Fees?
- There are no upfront fees associated with
this program all we ask is that you
give
us a strong upfront commitment to sell your home.
Depending on the home, situation, and buyer’s
resources, the homeowner may or
may not be asked to pay some closing costs at the time of sale.
A key benefit of this program is that most
of the closing costs, assignment fees, and
commissions (if any) are paid by the buyer.
How do I get
started?
We offer a
detailed guide that explains the process in detail and includes
instructions to get started.
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