Selling Your Oceanside Home Can Help You Get Out from Under Your Hospital Bills
One of our very first calls came from a woman in Oceanside who was struggling with a pile of unpaid hospital bills after she lost her husband of 43 years to cancer. A retired professor from MiraCosta College, he had used all of their savings to pay off as many bills as he could, but it wasn’t enough. As his treatments continued, the bills continued to stack up. When he passed, she found herself alone and trapped by debt.
She lived right by Rotary Park in a nice three-bedroom home that she and her husband had purchased when they were first married. We ran some numbers, told her what her house was worth, and made her a cash offer that she accepted. She moved into a comfortable apartment nearby, paid off her husband’s lingering medical bills, and used the remainder of the money to travel to places that she and her husband had always wanted to visit. I still think of their story every time I drive by Rotary Park.
The sad truth is, there are a lot of people out there facing a similar struggle. Nearly 40 percent of all debt in collection accounts is due to hospital bills, making it the number one source of debt for Americans. But if you’re buried in medical bills, your house might be able to help.
Medical Debt Is a Common Problem
Facing bankruptcy when you can’t pay your hospital bills may sound like an extreme situation, but the numbers are startling because they prove just how common this predicament is:
- Nearly 10 million American adults will be unable to pay for basic things like rent, food, and heat due to their medical bills.
- Another 10 million Americans are still unable to pay their medical bills even though they have year-round insurance.
- Nearly 17 million Americans will receive a lower credit rating due to their medical bills.
- 1.7 million Americans live in a household right now that will declare bankruptcy because of their inability to pay their medical bills.
And while this is a problem for all of America, this is an especially serious problem in California, the state with the most medical-related bankruptcies in the country. There are currently more than 248,000 Californians dealing with bankruptcy due to medical costs.
You Can Sell Your Home to Escape Debt
No American should have to go into bankruptcy just to pay for the services they need for their health. If you’re a homeowner, you already have an asset on hand that can help you. But putting your house on the market can be an arduous process.
You might think that listing with an agent is your best option, but the average home sits on the market for 69 days and agents take 6% of the sale price before you get a dime. Not to mention, a lot of deals fall through, which can leave you stranded at the last minute.
If you’re thinking of selling your home, Sell Your House Direct can make you a fair cash offer with complete transparency. We make selling your home simple and hassle-free because we understand the situation you’re in. The moment you call us, we learn about your property, submit an offer, and close in as little as seven days. You have enough to worry about these days. Let us help get you back on track with some money in your pocket. Contact us today.
What is Shrinkflation? Impact on Home Values
Shrinkflation is is a unique period that occurs when the price of a house remains the same, but the amount of square feet you receive is less. As inflation increases raising the market, homeowners and companies are trying to recoup their investments. According to...
Selling a Home with Lead or Asbestos Problems? Here’s What You Need to Know and Options Available to Help Make the Sale Easier.
Seller’s Duties to Share Information About Lead Dangers If you are selling a house that was built before 1978, there are responsibilities you have in sharing information about lead paint and other sources with your prospective buyers. If you aren’t sure whether...
3 Inspiring Stories of People Who Sold Their Inherited Home – What They Did With the Money
Inheriting a home can be a blessing or a curse, depending on your circumstances. For some people, it's the perfect chance to finally live in their dream home. For others, the idea of taking on the extra property – and all of the associated responsibilities – is...