Can’t pay the mortgage…what options are there..??
Written by Denae Frampton on August 19, 2009 – 8:34 pm -Many homeowners are facing difficult times right now trying to keep up on the mortgage payments. Much of the reason is that people continue to lose jobs at an extremely high rate. Just when you think your job is safe here comes the notice that you are being layed off. What do you do now to not only pay the mortgage payment but also keep food on the table and at the same time pay all of the other bills..? Sure there may be some unemployment coming in but not enough in most cases to continue being able to pay ALL of the monthly bills. Something has to give and that is usually the mortgage payment.
So what are your options..??
Your options are fairly simple. If you foresee that you will NOT be able to continue making the mortgage payments then the best option rather than letting the home go into foreclosure is to work with an experienced agent to sell the home through a short sale. There are many agents out there that try to take care of short sales for homeowners but a CDPE designated agent like myself has extensive training to know exactly what is needed to get them closed. The short sale is a way for the homeowner to avoid a possible foreclosure and get out of the home.
If you or anyone you know is in trouble and needs to know what options are available, please do not hesitate top call me directly or contact me through the website.
Tags: employment, layed off, mortgage, short sales
Posted in Short Sale Info | 1 Comment »

December 2nd, 2009 at 8:01 pm
Great post. People need to know that they have other options besides just letting the property go into foreclosure.