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4 Things to do if You Are Upside-Down on Your Mortgage in Massachusetts

Whether you overpaid for the property in a bidding war, you’ve fallen behind on mortgage payments, or property values have dipped, being upside-down on your mortgage or owing more than the current market value is a less-than-ideal situation for homeowners. If circumstances force you to sell your house due to foreclosure instead of waiting out a market turnaround for values to rise, you may feel backed into a corner. Understandably you don’t want to make a costly misstep when faced with this dilemma, so exploring your options is helpful.

With so many decisions ahead, being fully informed and weighing the benefits of each will help you feel confident in the action you take. So read on as we explore four things you can do if you are upside-down on your mortgage in Massachusetts.


The first thing you can do if you are upside-down on your mortgage in Massachusetts is to get a realistic picture of where you stand. Contact your lender for the amount owing on the mortgage and schedule a professional appraiser so that you’ll work with exact numbers. Understanding the true market value of your property is crucial in making informed decisions. This assessment can help you decide the best course of action, whether it’s selling, refinancing, or another strategy.

Professional buyers like those at Gaeta Properties want you to make an educated decision about your future, so they’ll compare what you could earn from listing vs. our offer to buy your house directly as-is for cash. You can skip the prep, cleaning, and repairs. At Gaeta Properties, we provide all the details used to calculate our offer because we want you to agree it is fair and feel good about working with us long after closing.

Short Sale

Naturally, you want to try every option if you are upside-down on your mortgage in Massachusetts; while a short sale has some consequences, they don’t compare to the fallout from claiming bankruptcy or a foreclosure on your credit record. A short sale involves selling your home for less than what you owe on the mortgage, with your lender agreeing to accept the lower amount as full payment. This option can help you avoid the long-term credit damage associated with foreclosure.

Professional buyers like those at Gaeta Properties are highly seasoned negotiators who can work out a short sale with your lender, helping you avoid foreclosure. Our team will handle the negotiations and paperwork, ensuring a smoother process for you.

Pay the Difference

Another option if you’re upside-down on your mortgage in Massachusetts is to sell the property and bring the amount owing to the closing table to pay off the remainder of the mortgage. This can be challenging if you don’t have the funds readily available, but it can help you avoid the negative impact of a foreclosure or short sale on your credit.

With a direct sale of your Massachusetts house to professional buyers like us at Gaeta Properties, you’ll get a fair value and won’t pay any hefty real estate commissions. At Gaeta Properties, we operate with total transparency. There are no hidden fees, and because of our full-service in-house team of industry specialists, you won’t pay any closing costs. We can provide you with a fast, guaranteed closing day. Or talk to your professional buyer at Gaeta Properties about selecting the best calendar date for your closing.


If selling isn’t the right option for you, consider refinancing your mortgage. Refinancing can help you lower your monthly payments or switch to a fixed-rate mortgage, which can provide more stability. Speak with your lender about refinancing options or look for lenders who specialize in helping homeowners with upside-down mortgages. Refinancing can be a practical solution if you plan to stay in your home long-term and need more manageable payments.

At Gaeta Properties, we are the best option if you are upside-down on your mortgage and need to sell. The team at Gaeta Properties are professional buyers that stop everything and listen to sellers to help find the best resolution for your individual situation. Feel free to ask us any questions or express any concerns you may have about the process of a direct sale of your house. At Gaeta Properties, we are literally your neighbors in most cases who live and work alongside you, and we are proud of the work we do helping Massachusetts sellers with unique and individualized solutions, one seller, one property at a time. Learn more about the difference a direct sale of your house can make by talking with the owner of Gaeta Properties for yourself without obligation? Call Gaeta Properties at (781) 258-6976.

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4 Things to Do if You Are Upside-Down on Your Mortgage