People are panicking. I'm not going to get on a soap box about the media, but those who are not checking their facts are down right scaring the crap out of people. Social Media certainly has an upside and a downside.
The unfortunate fact is there are homeowners that were in financial trouble prior to this new virus. The other unfortunate fact is that banks are not as helpful as they let on due to the rules, standards and obligations they have to the shareholders.
When financial hardship hits, it is overwhelming, embarassing, frustrating, and causes an undue amount of stress. Financial hardship can be from loss of employment as we currently see millions of people out of work, health issues both short and long term, death of a family member, and the list goes on. Any one of these situations can lead to the pre-foreclosure process and eventually to foreclosure of your home. Right now the banks are offering a little assistance by deferring payments, which they will tack on the to end of your loan, but only if you qualify.
For those already in the pre-foreclosure phase, meaning you have missed one or more mortgage payments, time is running short. Many people will ignore the notices. They don't know what to do, so they do nothing. DO NOT IGNORE THE NOTICES!!!! You don't know what to do? Here's some possible solutions.
First, Have you called your bank or mortgage lender? If not, start with that. Try to get them to re-work your loan. 2- Have you tried to refinance? 3- Have you put your house up for sale? There are real estate agents that specialize in this area. 4- Have you called the number on one of those signs you see in probably every town across America, 'We buy houses CASH' or 'We buy ugly houses'? These are investors looking to purchase homes to fix and flip or fix and hold.
If you have tried 1-3 above and just ended up more angry and upset, you might want to try #4. Most investors are decent people, who are looking for a good deal but not trying to rob you of your property. There are many pieces to the puzzle and the options are many, but doing nothing will not stop the pending foreclosure.
If this still seems overwhelming, Call me! I would be happy to help you find someone to help you in your area. I will help you navigate the muddy waters and make a clear path to possible solutions for your specific situation. No out of pocket expenses, No obligation.
If you're reading this because you are in pre-foreclosure or foreclosure, please call me, (no matter where you live), I have been where you are. At the expense of my pride, I am airing my dirty little secret, in 2011 we filed for bankruptcy. If you can, AVOID THIS AT ALL COSTS! My husband was a firefighter injured on the job after falling part way through a roof during a fire. He needed back surgery to repair the damage and worker's compensation would not authorize the surgery. He could hardly walk down the hallway in our home, much less do his job. I was a stay at home mom at the time, providing care for my father who had just had reconstructive back surgery, caring for 2 young, active boys and now having to care for my husband as well. Overwhelming does not begin to describe how I felt during that time. We had never been late on a payment in the 6 years we had the mortgage, we paid extra every month in an attempt to pay off our mortgage in less than 30 years, and the bank would not work with us. We had a small savings that would get us through a few months and that was it. Our only known option at the time was bankruptcy and even though we own our current home, the bankruptcy is still an issue on our credit report. So please, until you call or email me DO NOT start a bankruptcy case. It's there as a very last resort, but give this a chance first.
Not only will I help you find a solution to your situation, I will show you how we went from losing everything to currently buying everything cash. Yes, we have credit cards, but now we use them wisely. Let me use my mistakes to help you navigate the waters. We are happy and healthy, so please let me help you find your way back to happiness too!
Email me at: Monica16invest@gmail.com or call me 916-230-7212 CALL ANYTIME