20507 East 31st Place South, Broken Arrow: Relocation, Limited Equity and Mortgage Arrears

Moving closer to family

The seller was moving to Florida to be closer to family and had been trying to sell the generally good-condition property conventionally. Remaining financing and limited equity constrained the sale economics.

A lender payment plan and payments behind

The seller was approximately three months behind on the mortgage and had been working with the lender on a payment plan.

The completed transaction

The House For Cash transaction included catching up the delinquency as part of the solution. The seller received cash, and existing financing remained in place. The amount of cash and a fixed payoff timeline are not stated. This account does not imply a borrower release.

What This Example Shows

Relocation, a good-condition house and limited equity can coincide with mortgage arrears. Here, catching up the delinquency was a distinct part of the transaction; leaving financing in place alone was not the action that resolved the missed payments.

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