Your Upside-Down House in Warner Robins Georgia

What do you do with Your Upside-Down House in Warner Robins Georgia?

If your upside-down house is getting you worried, there are a few things you can do to gain some control of your situation. First thing to do is learn what does it really mean when your house is “upside-down” or “under water”.

This is a situation where your Warner Robins Georgia house is currently worth less than you owe on the house. Notice I said currently. House values go up and down all the time. A lot of houses were upside down after 2007 when the housing market crashed.  Many people walked away from their home because they were upside-down on their mortgage and could not afford to pay when their adjustable rate mortgage payments spiked up (HINT: Never buy your personal house with an adjustable rate mortgage unless you know what you are doing). Try some of these tricks next time you or someone you know has upside down house problem in Warner Robins Georgia.

with with upside down mortgage

Let your Warner robins House be

Your upside-down house is not that big a deal if the payments are not a problem. Many people panicked in 2007 and left a perfectly good home because the value of the house dropped below the mortgage balance (under water). The truth is, you house is like owning stock in a company. If the value drops, hold the stock until the value comes back up and THEN sell the stock, not before. Your house is the same way. There is no need to do anything if it is not financially hurting you or you have no reason to leave the Warner Robins area.

Many people had no choice but to let go of their Warner Robins house because they got talked into an Adjustable rate mortgage (ARM) that they could barely afford. Those loans had a fixed rate for five years only.  After that (2008) they became adjustable and guess which way they went… UP!


HARP is a program that can adjust your mortgage or postpone a few payments until later as long as your payments are still current. This program is more for people having trouble making the payments. Not people that are already behind on their mortgage. Although, Getting approved for the program can make it easier to make more principle payments and get the mortgage balance below the house value and save you from being upside down in your house any more.

Give your house to the bank as a “Deed in lieu of”

If a house just will not sell, the homeowner has the option give the house to the bank in lieu of foreclosing. This can work if the bank accepts these terms. There may not be a foreclosure on your record, but there still may be a black mark that will hurt your chances of getting another house later on. Sometimes the bank will not accept a deed in lieu of foreclosure. Which leaves the choice to either keep paying until the house does sell or walk away and take the foreclosure for the next ten years on your credit report.

Rent the house/room

This option may work well for the person that has an extra room to rent and needs to get their mortgage beat down fast. Moving to another, more affordable house in Warner Robins Ga altogether and renting your house that’s underwater may be the best option to save the house and your credit. Renting a room or even the whole house can be a lesson in trust for a homeowner that is not familiar with renting. That is where Real Estate Problem Solver can help people like you.

Many home buyers will not touch your upside-down house. Real Estate Problem Solver has solutions that can fix problems like this and more. We can buy your house or help you rent it until you are ready to sell the house at a later date. Call us at 478-273-0062 today and see what your options are. Good Luck

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