“Hey, Aussie Steve here from Home Buyer Louisiana. We buy houses in any condition across Louisiana. I’m currently at a property we just closed on in New Orleans East. I literally just left the closing. I also own a property, located two blocks up from here. We really do like the New Orleans East area.
The seller reached out to us because she was facing foreclosure. She was more than six months behind on her mortgage. She had owned the property for 11 years and was about to lose it to foreclosure. She had tried to sell the house but wasn’t able to get an offer high enough to cover the mortgage. This put her in a tough spot since she couldn’t pay the mortgage, nor could she sell the property for more than what was owed.
When she contacted us, she spoke with Arione from our office. We were able to work out a solution called a “takeover payment purchase.” Basically, we bought the property, caught up on the overdue payments, and then took over making payments on the mortgage. We didn’t pay off the mortgage in full; instead, we started making the monthly payments. This way, we could offer her a higher price for the property because if we had paid cash, it would have been less than what was owed on the mortgage. She would have had to bring money to the closing, which she obviously didn’t have and didn’t want to do.
This option can be a great solution if you’re behind on your mortgage or facing foreclosure. It can help save your credit and relieve you from the property. One benefit of working with us is that we buy houses as-is. Let me show you around a bit: the property is not in the best condition. For instance, it doesn’t have a stove, there are cracks in the tiles, and the toilet is broken. Although it’s not in terrible shape compared to some other properties we’ve purchased, it wasn’t ready for a typical homebuyer, which is why she couldn’t get an offer high enough to cover her mortgage.
Because we take over the mortgage payments instead of paying all cash up front, we’re able to pay more for properties like this and help sellers in difficult situations. We do buy properties all-cash as well, but that doesn’t always work, especially when there is an existing mortgage involved.
If you’re looking to sell your property, facing foreclosure, or dealing with tenants you don’t want to manage, feel free to reach out to us. You can visit our website, homebuyerlouisiana.com, to read case studies of people who have sold properties to us and explore different options available to you. Thanks so much, and have a great day!”
