Medical Bills? Why not sell your house to us and free yourself from the burden?
How to sell your house to pay off medical bills and move to a better place?
There are several ways of selling your house.
Here are these ways.
- List it with the Agent.
- Lease option it with us and/or our tenant buyers.
- Seller finance it to us and/or our end buyer.
- Team Up with Us to help you pay off your medical bills in return for equity in your house.
- Sell it to any other investor with a low cash offer or let us give your our best cash offer.
- Enter our credit repair program for qualifying you into new home or apartment prior to you selling your home and purchasing a new one.
- Creatively team up with us to pay off your medical debt in return for collateral or share of a revenue based on the long/short term income (for example Airbnb).
How Freedom Fusion Properties, LLC can assist you with solving your medical bill problem.
Can I keep the house and still pay off the bil?
Depending on the circumstances of your situation, it maybe possible to structure paying off your bills based on combination of equity and other collateral for example a boat or a car, or any other properties that you may already own, while keeping you in the same house without making you move until your medical problems are subdued/minimized.
- Note the complexity of these transactions is dependent on your overall assets and problem at hand.
- In some cases it may simply be easier for us to give you a full price offer for your or relatively close to the full price offer, so this way the medical bills can be paid off.
- In other cases it maybe easier to lease option your house to Freedom Fusion Properties, LLC and move to the nearby area at the sacrifice of slightly lower cost of living while having the tenant buyer placed into your property making payments on monthly basis without you having to worry about toilet breaking down or dealing with the tenant buyer like it is the case with a typical renter.
- Note depending on your medical cost bills it maybe difficult to pay off a full amount, and monthly payments may not suffice, especially if you are receiving a bill from a hospital that is constantly growing in size especially if it has a high interest rate.
Alternatively, you can also move overseas to maintain higher standard of living even with less money in your pocket after paying off your medical bills. It is no secret that many American folks move out of their country to another country where dollar goes a long way. Not only the dollar goes the long way, but some of these countries have free medical care or very low medical care payments.
What if I want to sell the house pay off medical bills and move to another country?
How to get money for your house to pay off medical bills using lease options approach?
Hi my name is Rome Wells the founder of Freedom Fusion Properties, LLC.
As a lease options specialist, Freedom Fusion Properties, LLC understands that you are facing a challenging situation with medical bills and may need to sell your house in the nearest future and I believe a lease option could be a suitable solution for you. Allow me to explain why.
Here is what lease option is.
A lease option is a real estate transaction that combines elements of a lease agreement and an option to purchase. It provides several advantages for homeowners in your situation. Here’s how I would structure the deal to address your medical bills proble
Lease Agreement
- Lease Agreement: We would enter into a lease agreement where you would become the landlord and lease the property to a tenant-buyer. This arrangement allows you to receive monthly rental income, which can help cover your medical bills or other expenses. The lease agreement would typically have a duration of one to three years, providing you with some financial stability during this time, while maximizing your chances of paying of your medical bills.
Option to Purchase
- Option to Purchase: Simultaneously, we would grant the tenant-buyer an option to purchase the property at a predetermined price within a specified period, typically two to three years. This gives the tenant-buyer the right, but not the obligation, to buy the property at the agreed-upon price during the option period. The option fee, paid upfront by the tenant-buyer, provides you with additional funds to help with your medical bills.
Rent Credit
- Rent Credit: As an incentive for the tenant-buyer to exercise the option and eventually buy the house, we can structure a portion of their monthly rent to be credited towards the purchase price. This rent credit accumulates over time and can help increase their down payment or reduce the purchase price when they exercise the option. This arrangement provides motivation for the tenant-buyer to take good care of the property and improve their financial situation to secure a mortgage in the future.
- Why would you as the homeowner with medical bills would need to provide any credits? Don’t worry we can structure these credits into lease agreement, in such a way that you still get your monthly payment in expense for your exit selling price being a little bit lower when the time comes for you to sell, while simultaneously minimizing your risk of tenants destroying your property while leasing it.
- In fact, when we start searching for your tenant buyers for your home we market these rent credits as payment for college credits for tenant buyer parents who happen to have kids that will end up going to college in the future. These parents tenant buyers are very keen on making sure that these lease payments are being processed on time, vs a typical renter, who may not care at all about your property causing you stress, toilet expenses, higher property Maintenace expenses and entire slew of issues.
- In summary, think of rent credits sort of like an insurance policy for your house, minimizing chances of your tenant buyer causing harm to your property.
Flexibility
- Lease options offer flexibility for both parties. If you require more time to sell the property, we can extend the option period or renegotiate the terms. Conversely, if your financial situation improves and you wish to sell the house before the option period ends, we can explore selling it to a different buyer.
In Summary
- By utilizing a lease option, you can benefit from the immediate financial relief through rental income and the option fee. Additionally, you have the potential to sell the property at a higher price in the future if the market appreciates. This strategy gives you time to address your medical bills while maintaining control over your property.
- It’s important to note that lease options are complex transactions, and all of our transactions are done with a real estate attorney and our professional staff who is familiar with lease options strategy for medical bills problems, ensuring the deal is structured properly and legally compliant.
What if covering my medical bills using monthly payments doesn't work for me and I want the whole lump sum, but still want to have monthly payments coming in, would the lease options strategy solve my problem?
In this case, we would have to structure your situation a bit different. Since lease option technique would essentially provide you flexibility to still hold your house title while assigning purchase interest to us, it would be a bit risky for us to provide you with the lump sump of money to pay off your medical bills without having some type of collateral or mortgage title transferred to us.
- With lease options approach there is however a way for Freedom Fusion Properties, LLC to give you a bit of lump some money in the form of a non-refundable fee that would be applied to the purchase price of the house.
- So this way when you end up selling the house that price for which you will end up selling it for, will be slightly lower than the market price.
- All that while agreeing to the contract terms of us purchasing your house for a price relatively close to the full market price, in context of the complexity of your medical bill problem.
- Note in order to have a Win Win situation for both of us me Rome Wells and you the seller it needs to makes sense for you us and the tenant buyer(s) who we end up placing into your home as a tenant.
Lease Option Approach for solving your medical problem
Below is just some math for you to look into. See if this offer makes sense to you for your house. Note this is just an approximate numbers for what we can offer you for your house. However for exact offer, contact us from the contact form and tell us your medical bill problem in more details, to see if we can agree to mutual terms that will be beneficial for you and us.
What we can offer you for your house in context of your medical problem bill complexity
Note the price which we can offer you for your house is negotiable based on terms, and not set in stone. The price is determined based on the condition of your house and complexity of your overall problem. If for example we need to pay off some taxes or arrears or other encumbrances then that can offset our price offer based on the amount of these encumbrances.
Contact Us Today for your exact offer (203)340-0391 or send us an email to [email protected]
Why not just sell with an agent?
If you would like to sell with an agent your house, most likely it will be difficult to do so without first bringing up pay off amount for any encumbrances that you may have or past due on prior to selling the house.
- For example if you owe taxes, or have some code violations or any other complexities that require to be cured prior to house going on the market, then it will be difficult to sell through the agent, until these encumbrances are paid off.
- Not to mention the obvious fact of you having to pay an agent to list the house which is generally 3% fee plus paying for the buyer’s agent, which is around another 3% fee. That right away places you 6% under the market price. All that providing that you house is in great shape, if it’s not then the price of that house would be even smaller.
We understand where there are medical problems there is a slew of all other problems and we are here to make sure that you do not fall any further into the never ending abyss.
- It is no secret that once you start falling behind on medical bills it becomes challenging to pay off other expenses such as taxes, water bills, maintenance bills or any other types of bills surrounding your property.
- Sometimes it may feel like a never-ending loop or a nightmare which seems impossible to get out of.
- Our unique team of real estate investors specializes in medical bill complex problem solving in context of helping you sell your house or by sharing your house equity interest with other investors, while paying off your arrears and encumbrances, in order to put some money in your pocket so you can pay off these medical bills.
Are there any other options for how I can keep the house while paying off the medical bills?
Consolidate Your Debt and refinance the house
- The other option for homeowners/landlords who happen to have medical problems is to do cash our refinance on their house. This way homeowners can extract some cash out of the property and pay off the expenses, while continuing to pay off the house further on monthly basis.
- This may very well be suitable option for you as well, however it’s too difficult to tell without first talking to you and understanding a little bit better about your problem. Contact us from the form below if you would like to discuss your options, so one of our real estate investment professionals can go over with you some of these options.
Ok, so why don't I just do cash out refinancing and get the money to pay off my medical bills?
If a homeowner is in need of a lump sum of money to address medical bills, exploring a cash-out refinance option could be an alternative to consider. However, it’s important to be aware of the risks and potential challenges associated with this approach, especially given the homeowner’s current financial situation.
Creditworthiness and Income: When applying for a cash-out refinance, banks typically evaluate the borrower’s creditworthiness and income stability. A homeowner with medical bills, no current job, and other arrears may face difficulties meeting these requirements. Lenders typically prefer borrowers with a stable income source to ensure their ability to make mortgage payments.
Equity and Loan-to-Value (LTV) Ratio: Cash-out refinancing allows homeowners to borrow against the equity in their property. However, the amount that can be borrowed is limited by the loan-to-value (LTV) ratio, which is the percentage of the property’s appraised value that the lender is willing to lend. If the homeowner has limited equity in the property or the LTV ratio exceeds the lender’s limits, they may not be able to access the desired lump sum.
Higher Interest Rates and Closing Costs: Cash-out refinancing often comes with higher interest rates compared to regular refinancing or home purchase loans. Additionally, there may be associated closing costs, such as appraisal fees, origination fees, and title insurance. These factors can increase the overall cost of the refinancing and should be carefully considered.
Potential Debt Increase: It’s crucial to consider the long-term implications of cash-out refinancing. By accessing the equity in the property to pay off medical bills, the homeowner is essentially converting unsecured debt (medical bills) into secured debt (mortgage debt). If the homeowner is unable to make mortgage payments, they risk losing the property through foreclosure.
Property Valuation: The lender will typically require an appraisal to determine the current value of the property. If the appraisal value comes in lower than anticipated, it may affect the amount of cash the homeowner can receive through the refinance.
Given the homeowner’s current financial situation and potential lack of income, it may be challenging to secure a cash-out refinance. Banks are typically risk-averse and may be hesitant to approve a loan for someone without stable income or a history of delinquencies. However, each lender has its own criteria, so it’s worth exploring different options and discussing the situation with multiple lenders to see if any are willing to work with the homeowner’s circumstances.
Why Lease Options Solution Approach with Freedom Fusion Properties, LLC may fit better than the cash out refi option for homeowners with medical bill problems?
Lease options, particularly through Freedom Fusion Properties, can offer distinct advantages over a cash-out refinance, especially for homeowners facing medical bills and financial challenges. Here’s why lease options may be a better option:
Immediate Lump Sum: With a lease option, the tenant-buyer typically pays an option fee upfront, which can provide you with an immediate lump sum of money to address your medical bills. This option fee is non-refundable and is separate from the monthly rental income you’ll receive throughout the lease term. It can offer faster access to funds compared to the potentially lengthy process of a cash-out refinance.
Flexible Terms: Lease options provide more flexibility in terms of the agreement’s duration and structure. You can negotiate the lease term and option period to meet your specific needs. For instance, you can set a longer lease term, giving you a more extended period to address your medical bills and financial situation. You also have the flexibility to extend or adjust the terms if necessary, depending on your circumstances.
Rental Income: Unlike a cash-out refinance where you would have to rely on your own income to cover mortgage payments, lease options allow you to generate rental income from the tenant-buyer. This income can be used to help pay for your ongoing medical bills and other expenses, providing you with a more consistent source of funds while you still retain ownership of the property.
Property Maintenance: In a lease option, the tenant-buyer typically takes responsibility for the property’s maintenance and repairs. This can provide you with relief from these expenses, allowing you to allocate your resources towards medical bills and other urgent financial needs.
Potential Price Appreciation: If the real estate market experiences appreciation during the lease option period, you have the potential to sell the property at a higher price when the tenant-buyer exercises their option to purchase. This can result in a more favorable financial outcome compared to a cash-out refinance where you may be limited to the current value of the property.
Lower Risk: Lease options carry lower risks compared to a cash-out refinance. If your financial situation doesn’t improve or you’re unable to qualify for a refinance due to unemployment or other arrears, a lease option still allows you to generate income and potentially sell the property in the future. It provides you with an alternative solution while minimizing the risk of foreclosure.
Don't Let the medical bills cause you to lose your house
Contact us today (203)340-0391 or [email protected]
- Time is running out, medical bills piling up, and in cases where payment is missed, it’s possible for your house to enter foreclosure process, don’t let it get to that state, and seek help.
- Our Freedom Fusion Properties, Lease Options and Creative Financing specialists can help.