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Hubzu’s post-forbearance solution that makes sense for homeowners

November 12, 2020

Forbearance options provided by the CARES ACT has helped homeowners in the short-term who are dealing with financial instability caused by a reduction in pay or the loss of employment. The CARES ACT has provided a safety net for many. However, what happens when the forbearance protections end? Unfortunately, many homeowners may be faced with not being able to make their mortgage payments after the forbearance period. Some of these homeowners might end up facing a short sale, deed-in-lieu of foreclosure, or even foreclosure.

Hubzu’s Signature SellerTM program provides homeowners with an option that can help minimize the negative impact on their credit and help them cash out their current equity in a cost-effective way. Continue reading the many benefits of Signature SellerTM below or register for free by clicking here.

Save on costly fees & keep more of your equity

When you use a REALHome Services and Solutions (RHSS) real estate agent to participate in the Signature SellerTM program in FL, GA or TX, you get the benefit of a 1% broker commission fee. In contrast, a traditional home sale broker commission may be up to 6% which can take thousands of dollars from your equity. These savings will make a huge difference for those trying to get back on their feet. For perspective, say you sell your home for $250,000. If you sell using Signature SellerTM with a RHSS agent, you’re only responsible for paying a 1% fee of $2,500. But if you sold your home the traditional way with a 6% broker commission, that could be mean a fee of $15,000. That means that the Signature SellerTM program could save you $12,500 on this transaction. These savings are particularly important at a time like this where every dollar matters.

Minimize the negative effects on your credit

Not being able to pay your mortgage on time can have damaging effects on your credit that can take years to fix. Selling now could possibly help you minimize the negative effects on your credit. Keep in mind that a low credit score or a foreclosure on your credit report could stop you from getting another mortgage in the future or even refinancing your current loan. Here are some of the potential repercussions of having a poor credit score caused by defaulting on a home loan:

  • Difficulty financing a vehicle.
  • Qualifying for a credit card can be difficult.
  • Landlords typically check credit before renting out an apartment, so it may be difficult for you to get approved to rent an apartment if you are no longer able to stay in your house.
  • People with lower credit scores often pay more for car, renters and home insurance.
  • If you can get a loan, it will likely come with a higher interest rate.
  • There’s always the possibility of some employers running a credit check.
  • Higher insurance premiums are a possibility because insurance companies usually determine levels of risk by looking at your credit. The worse your credit is, the more you may have to pay.
  • Starting a business may be difficult because banks often check your credit score before giving out a business loan.

Larger marketing exposure

One of the most daunting aspects of selling a home can be finding a buyer within a reasonable timeframe. Signature SellerTM gives homeowners vast marketing exposure to over 1.9 million registered users that have placed over 4.7 million bids since 2009. Properties are marketed to this user base and new buyers through email, social media, paid advertising and much more. Hubzu also syndicates to over 250 websites including Zillow, Trulia and Realtor.com.

If you are in forbearance because of the COVID-19 pandemic, you now have a post-forbearance option that makes sense.

By marketing your home using Hubzu’s Signature SellerTM program, you may be able to save money on costly agent fees (FL, GA & TX), while retaining more of your equity and reducing the risk of damaging your credit any further. You’ll also benefit from using a proven marketing platform with access to millions of registered buyers.
To reap these benefits for yourself, click here to register with Signature SellerTM.

REALHome Services and Solutions, Inc. is a real estate brokerage licensed to do business in the District of Columbia and all 50 states except Connecticut. A list of our licenses is available here. *When using a RHSS licensed real estate agent in GA, FL, or TX, you’ll only pay a 1% brokerage commission versus the industry standard of 6%. RHSS agents offering this discounted service are only available in GA, FL, and TX.

RHSS TREC: Information About Brokerage Services, Consumer Protection Notice.

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Edgard Negron

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