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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