How Thomas Sold His Loganville House in Mortgage Forbearance

When Thomas called us, he was working to get back on his feet. A sudden health setback had kept him out of work for months, and while he recovered, he fell behind on the mortgage on his Loganville house. His lender put the loan into forbearance. That bought him time, but it did not make the missed payments go away.

Now the forbearance was ending, and the lender wanted the missed payments back in one lump sum. Thomas had just started a new job and was only in his second week. There was no way he could come up with that kind of money. His lender had even told him that selling the house while he was still in forbearance was one of his options.

There was a simpler reason to sell, too. It was just Thomas and his partner, Patricia, in a four-bedroom house, and two of those bedrooms had barely been used. They were ready for something smaller.

Why a house in forbearance is hard to sell in Loganville

Loganville is a good market for a newer home. Buyers here want move-in-ready houses in quiet subdivisions, and there are plenty to choose from. The problem for a homeowner in forbearance is time. A traditional listing usually means repainting, new carpet, staging, weeks of showings, and then a buyer's loan approval on top of all that. Every week the house sits, the forbearance deadline gets closer.

A forbearance payoff is also not always the number you expect. The paused payments, interest and fees get added back in, and the final figure can come in higher than the balance on your last statement. Sellers who guess at that number can end up short at the closing table.

What stood in the way

Thomas and Patricia were both on the title, so every document needed both of their signatures. They also worked opposite schedules. Patricia was at work all day without her phone, and Thomas did not get home until the evening. Getting both of them on the phone at the same time took real planning.

They were still living in the house and had not found a rental yet, so they needed time to move. The house also needed some cosmetic work: fresh interior paint and new carpet in a few rooms where the family dog had left its mark. Nothing major, but enough to slow down a traditional sale.

And Thomas wanted to protect the money he had put into the house when he bought it. He was upfront with us about that, and we were upfront with him about what each kind of sale would mean for his bottom line.

Two honest options, and the choice was theirs

Jason set the offer call for 7:30 in the morning, before Thomas left for work, so Thomas and Patricia could both be on the line. He laid out two options for the house as-is: a quicker close at a lower price, or a higher price with a 45-day close. He told them plainly that if neither one worked for them, it was completely okay to say no.

They chose the 45-day option. It paid more, and it gave them the time they needed to find a rental and move. Jason then walked both of them through every page of the paperwork on the phone and answered their questions before anything was signed. That is how we work on every house: more than one way to buy, matched to what the seller actually needs.

How we solved each problem

• We bought the house as-is. No painting, no new carpet, no repairs.
• No commissions and no closing costs came out of the price we agreed on.
• Showings ran by appointment only, on Thomas and Patricia's schedule, so nobody was walking through the house while they were at work.
• Our transaction coordinator, Michael, handled the HOA paperwork, the closing attorney and the scheduling, and kept Thomas updated at every step.
• When the closing attorney still needed signed forms to order the mortgage payoff, Michael arranged to collect both signatures in person that same evening, including going to Patricia at her job, so the payoff request would not stall.
• The mortgage was paid off in full at closing, and the HOA dues and property taxes were settled on the closing statement.
• Thomas and Patricia walked away from closing with money in their pocket.

We committed to 45 days. We closed in 38.

Thomas and Patricia signed on a Friday morning in late August and closed on a Monday afternoon at the end of September. They had the time they needed to pack, sort through their things and move out on their own terms.

Thank you, Thomas and Patricia, for trusting us with your home. We are glad you can start your next chapter without that lump sum hanging over you.

Own a house in Loganville and behind on your mortgage?

If you are in forbearance, behind on your mortgage payments, or just ready to downsize, you have more options than you might think. We buy houses in Loganville and nearby, including Snellville and Lawrenceville, as-is, and close in 7 to 60 days on your schedule.

Get answers to common questions about selling to us, read what other Georgia homeowners say about us, or tell us about your house and we will give you an honest number, with no pressure either way.