Owing More Than the House Is Worth Doesn't Mean You're Out of Options
An upside-down, or underwater, mortgage means your loan balance is higher than what your house would actually sell for today. It's an uncomfortable position, especially if life circumstances are also pushing you toward needing to sell, and it's important to understand the real options rather than assume you're simply stuck.​
A standard cash sale isn't usually the right fit when there's no equity or room in the homes value for an investor buyer to make money. We do have options available when there is little equity in the property and selling the traditional way is not practical because of real estate agent commissions and closing costs.
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Common Underwater Mortgage Situations We Help With
These are the situations we see most often from homeowners across Davidson, Wilson, Rutherford, Sumner, and Montgomery counties.
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Bought near the top of the market, values have since dropped locally — Your loan balance hasn't moved, but your home's value has.
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Took out a second mortgage or home equity line that pushed the balance above value — Common with renovation loans or debt consolidation borrowing.
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Job loss or income disruption on top of being underwater — A double problem: can't afford the payment and can't sell for enough to cover the loan either.
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Behind on payments and underwater at the same time — This combination often moves toward foreclosure fastest if not addressed early.
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Inherited a property with a mortgage balance higher than its value — An unexpected financial position for an heir who didn't take out the original loan.
Frequently Asked Questions
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​Is this a scam or some kind of trick?
A fair question and one you should be asking anyone offering to buy your house in this situation. We make our money buying houses at a discount or other ways that give us a return on investment. We help then fix the house up and resell. A situation where you owe the bank more than your home is worth can be a difficult one to navigate. We can take a look at the situation and provide you a clear, written offer with no hidden fees, you sign nothing until you agree and want to move forward.
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What if my lender already filed for foreclosure?
Yes, we can often still buy your house even after your lender has officially filed for foreclosure, but the timeline matters more than ever. In Tennessee, once a Notice of Sale is published, you typically have a window of a few weeks before the trustee's auction date. During that window, a sale or reinstatement in full can stop the foreclosure before it completes.
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What if I don't have enough equity in my house for a cash offer to be an option?
A traditional cash offer is not your only path. When equity is tight or nonexistent, we can sometimes purchase the property by taking over the existing financing instead of paying off the loan in full at closing. In simple terms, we step in and make the payments going forward, the deed transfers to us, and you walk away from the mortgage burden and This kind of creative purchase is not the right fit for every situation. It depends on your loan type, your lender, your current standing, and your goals, but it has helped homeowners across Middle Tennessee move on when a standard cash sale would not have worked.​
Areas We Buy Houses As Is
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Nashville
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Murfreesboro
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Clarksville
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Smyrna
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Lebanon
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Gallatin
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Hendersonville
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Mt. Juliet
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LaVergne
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Portland
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Spring Hill
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Goodlettsville
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Joelton
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Madison
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Hermitage
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Old Hickory
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White House
…and all surrounding counties in Middle Tennessee including Davidson, Wilson, Rutherford, Sumner, Montgomery, and Maury.
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Can I really stop a foreclosure by selling my house?
Yes, in most cases. When the sale of your home pays off the mortgage in full or you fulfill all the requirements of reinstatement, the foreclosure stops because there is no longer a loan in default. The key is timing, the earlier you contact us in the process, the more options you have. Even homeowners with a sale date only a few weeks away can often complete a sale in time.