Sell a house after a job loss in Colorado Springs, CO: how long savings last against a local mortgage, forbearance and modification first, and how an as-is cash sale returns your equity before a default. Written offer within 24 hours of our visit.
Colorado Springs runs on a handful of big employers and the contractors around them: the military installations and the defense companies on the east side, the hospitals, the colleges, call centers and a tourism season that ends abruptly. When one of them cuts, the mortgage does not. A household that was comfortable on two incomes finds that one income plus unemployment benefits covers the payment but not the taxes, the insurance that rose after hail, the metro district levy and the car. Savings last a few months. Then the question becomes whether to sell now, with equity intact, or later, after a default has added fees and pressure.
Colorado Springs Cash Buyers buys houses from owners after a job loss or a loss of income across Colorado Springs and El Paso County. We buy as-is, pay the customary closing costs, and close on a date you set, including a later date that gives you time to land somewhere. This page covers the steps to take first, the math of waiting, and how a sale runs when you decide the house is the thing to let go.
Before deciding to sell
Call the servicer and ask about forbearance or a repayment plan; a documented loss of income is the hardship these programs exist for, and a forbearance can pause payments for several months without a foreclosure referral. If you have a VA loan, the VA offers its own options. File for unemployment benefits through the Colorado Department of Labor and Employment. If you are 65 or older and have owned and lived in the home for ten years, confirm the senior homestead exemption is on your tax account. Then get a written cash offer, so you know what the house would bring if the job search runs long. None of these steps commits you to selling; they give you a calendar instead of a cliff.
The math of waiting
Missed payments add late fees and interest. At around four months of delinquency the loan goes to an attorney, who records a Notice of Election and Demand with the El Paso County Public Trustee and sets a sale 110 to 125 days later; attorney and trustee fees are added to your payoff. A listing takes roughly two months to reach a contract in today's market, plus a buyer's financing. An owner who waits until the NED to list is racing the Public Trustee with a listing that may not close in time. An owner who sells in month two, while current or one payment behind, keeps the equity and the credit history. Our offer is in writing within 24 hours of a visit and can close in about a week once title is clear, so the decision can be made late and still work, but it is cheaper made early.
Selling as-is when money is the issue
A listing wants money spent first: paint, repairs, perhaps a roof that an insurer will accept. A job loss is the wrong moment for that. We buy the house in its current condition, with deferred maintenance, with the hail-dented gutters, with the furnace that needs replacing, and with whatever you do not want to move. There is no commission. Your net is the price minus the mortgage payoff and any liens, and we show you that figure before you sign.
Timing the closing around a job search or a move
Some owners want to close quickly and stop the bleeding. Others want a contract now and a closing in sixty or ninety days, after a new job starts in Denver, or after the kids finish the semester in District 11 or Academy District 20. Both work. A signed contract with a later closing date gives you certainty while you search, and a short post-closing occupancy can be written in if you need a couple of weeks after funding to move. If you find a job locally and want to keep the house, tell us; we would rather cancel a contract than buy a house someone can afford to keep.
Common situations in Colorado Springs
A contractor's badge pulled when a program ended at Schriever. A nurse's hours cut after a hospital consolidation. A couple in Security-Widefield where one income was a seasonal position in Manitou Springs. A small business owner in Old Colorado City whose lease outlasted the customers. The common thread is a good house and a changed income, and the goal is to leave the house with the equity rather than hand it to the Public Trustee.
Starting the conversation
Send the address, how current the mortgage is, and the date you would like to be done. We visit within a day or two and give you a written offer within 24 hours of the visit. There is no obligation. If the job comes back before closing, we can cancel; if it does not, you have a plan already in motion.
Selling to us vs. a traditional listing in Colorado Springs, CO
| Comparison | Traditional agent | For sale by owner | Colorado Springs Cash Buyers |
|---|---|---|---|
| Cash offer | Rarely | Rarely | Yes |
| Sell as-is | Repairs expected | Repairs expected | Yes |
| Time to a contract | roughly two months in Colorado Springs now | Often longer | 24 hours after the visit |
| Agent commission | About 6% | Buyer's agent usually paid | None |
| Closing costs | Paid by seller | Paid by seller | Customary costs paid by us |
| Showings | Yes | Yes | One visit |
| Financing fall-through | Possible | Possible | None, we fund it |
| Price cut after inspection | Common | Common | No inspection period |
| Closing date | Lender's schedule | Buyer's schedule | Yours |
We buy houses in Colorado Springs for any reason, any condition, or any challenge
Every link below is a page written for that situation in Colorado Springs and El Paso County.