While it’s true the housing market is strong, many people in Tallahassee are struggling to make their mortgage payments.
Are you underwater on your home? Having trouble keeping up with your mortgage payments? Are you afraid that your lender is considering foreclosure?
Fortunately, there are a number of things you can do to avoid foreclosure in Tallahassee. Moving QUICKLY, is absolutely the MOST important thing you can do, and could save your home and your credit rating simultaneously.
Let’s consider a couple quick tips on possibly how to avoid foreclosure in Tallahassee with your home.
Priority #1 On How To Avoid Foreclosure in Tallahassee Don’t Jump Ship!
In the past people have simply walked away from their home. There are even pockets of Tallahassee that have begun to resemble ghost towns.
It’s extremely important to keep your wits about you, in spite of current circumstances. Sunny Days lay ahead, but neglecting to take action on an impending foreclosure will have a huge negative impact on your credit score, and most likely prevent you from purchasing a home for years to come. If you sell your home, and leave a portion of the loan unpaid, the lender could pursue legal action against your for the unpaid portion.
YES it’s extremely stressful, BUT you do have options:
• Negotiate with your mortgage lender. Banks and other financial institutions are well aware that some citizens of Tallahassee are struggling. If you haven’t missed a payment yet, you may have some leverage to renegotiate the terms of your loan. Banks don’t like foreclosing on homes, and many will work with you if you aren’t too far behind. You may be offered forbearance, or even a full loan modification.
• Ask for help from Uncle Sam. Over the last five years, the federal government has implemented a number of programs to help struggling homeowners. The Home Affordable Modification Program (HAMP) allows homeowners who are struggling to modify their loans, reducing monthly payments. The Home Affordable Refinance Program allows homeowners who are current on their mortgage payments to refinance an adjustable rate mortgage into a low-interest, fixed rate loan. Both of these programs are subject to eligibility requirements.
I understand that the possibility of losing your home is super stressful. You aren’t alone. Residentss all over Tallahassee are going through the same troubles. In fact over 624,000 U.S. residents filed foreclosure in 2018. Foreclosure can have a lasting effect on your finances, and it’s important to move quickly and take advantage of options while they are available. The window to prevent foreclosure in Georgia, is unfortunately small, so you must act FAST. You could both remain in your home and save your credit rating.
I may be able to help you avoid foreclosure… connect with me today and lets discuss your situation. I don’t charge any fees… I’ll evaluate your situation… and present you with options so you can move on and get this foreclosure in your rear view mirror.