People will often buy a manufactured house only to have their needs change as the years go by. Paying a mortgage on an unwanted manufactured house can be incredibly stressful and frustrating. In this post, we offer 5 ways to get out of your mobile home mortgage in Phoenix so you can move on with your life!
Paying an expensive mortgage month in and month out can take its toll. Especially if you have grown out of the manufactured house and are looking for something different. Below, we offer information to help you get out of your mortgage fast, without having to worry about excessive fees or penalties. If you have any questions about getting out of your mortgage in Phoenix, we want to hear from you!
Sell Your Mobile Home Fast
The easiest and most convenient way to get out of your mortgage in Phoenix is to sell your manufactured house to a direct buyer. Phoenix Mobile Home LLC buys manufactured houses directly from local mobile homeowners and can close in only a matter of days. Selling your manufactured house fast in Phoenix will save you a fortune on holding costs including continued utilities, trailer maintenance, taxes, mobile homeowners insurance premiums, and more. A traditional listing can be effective, but the process can end up taking several months while costing you a lot of money. For those who are looking to sell right away, a direct sale to Phoenix Mobile Home will help to save time and money, giving you the peace of mind you need!
Hire An Agent
Many people choose to hire a Phoenix real estate agent when it is time to sell their mobile home. While an agent can be beneficial in some transactions, in others, the costs and fees aren’t worth it. If you do not mind paying agent commissions, making repairs, or waiting around for a buyer, hiring a Phoenix real estate agent may be the best option for you. If you need to get out of your mortgage right away in Phoenix, you may be better off with selling your manufactured house directly. An agent can end up being very expensive, working with our team will help you get out of the mortgage for your unwanted manufactured house in Phoenix without any cost or hassle.
Rent It Out
While technically you will still be on the hook for the mortgage payment each month, you will be able to have your tenants pay it for you. Finding the right tenants can not only help to pay off your mortgage, but you may be able to collect passive income this way too. Keep in mind that not all properties make great rentals and not everyone is cut out to be a landlord. Even still, if you find the right trailer management company, you can find great tenants, rent out your trailer, and have someone else pay your mortgage for you.
You don’t necessarily have to give the trailer away, but you can give it so someone else and have them assume the mortgage. Maybe you have children or another family member who would be interested in having the manufactured house. You can either have them assume the mortgage if possible, or you can sell it to them for what you owe, ensuring your debt gets paid off, without any further penalties or fees. You will benefit by cutting your ties with the manufactured house, whereas your friend or family member will score a great deal by taking the trailer off of your hands. It’s a win-win situation for everyone involved.
Rent To Own
Selling your manufactured house via rent to own works great for those who want to sell for market value and who don’t mind waiting a while before the mobile home is sold outright and they have collected the full sale price. A rent to own agreement will open the door to numerous potential buyers, giving you better odds of a fast sale at a great price. While you won’t see the entirety of the sale price right away, you will be able to collect higher than average rent, a deposit, and guaranteed income for the next 1-2 years. Once the rental term is up, your tenant will have the option to buy the manufactured house outright. If they are unable to, the manufactured house will remain in your name, and you can either choose to sell it or rent it out to another individual.
Are you ready to get out of your mortgage in Phoenix? Working with Phoenix Mobile Home will help you get the price you want for your manufactured house while saving you a fortune along the way. We can help you get out of your mortgage so you don’t have to feel stuck with your unwanted trailer any longer! If you need to sell your manufactured house fast, our team is here to support you!