Should I Refinance or Sell My Home?
Since interest rates have dropped so low this week, I’m wondering if I should refinance or sell my home. Either one of those options would provide me with the cash I need to pay my bills now. This Covid-19 virus is pushing me to decide soon.
Even though the United States government is depositing money directly into our checking accounts, it won’t be enough to cover my living expenses this month. I need considerably more cash to pay for food, insurance and household expenses because I’m on a furlough from my job, with no definite date I’ll be going back to work fulltime.
Refinancing might be faster, if I’m approved. Sadly, I just realized that a big part of any refinance loan approval process is verification of income. How can I prove my income right now? I have a job but I’m not getting paid. I don’t think that’s going to work, for any lender or for me.
What if a Refinance is Not Possible?
For weeks now I’ve been considering a refinance, since I know there’s a lot of equity in my home. It made sense that a lender would see a strong loan-to-value ratio, which makes me a valuable customer. But, without a verifiable, regular income, I won’t qualify for refinancing my mortgage loan. I won’t even quality for a home equity loan.
It looks like these facts made my decision for me. There’s no point in wondering about whether to refinance or sell my home because it’s obvious I need to sell it now. And I need to find a buyer who will pay cash and close quickly. It’s that simple.
I found WePayFast.com and wrote down their contact information a few weeks ago. Now I plan to call their professional home buyers at 405-521-1807 or email [email protected] to talk about selling my home. I will get a call back within 24 hours, and if they decide to make me an offer, we could close within two weeks to ten days. We Pay Fast picks up all the closing costs, too, so I receive a check for all my equity at closing.
The experienced, professional buyers at We Pay Fast will provide the cash I need to weather the national emergency and lessen my financial hardship right now.