Are You Struggling to Pay Your Mortgage?

Today’s message is for those of you who may have difficulties making your mortgage payments due to the Coronavirus global pandemic. We’re all living in a challenging time, and many people have been furloughed, are working fewer hours, are sick, or have been laid off from their jobs all together. All over the world people are struggling to pay mortgage or rent. The key to navigating this unique point it time is communication! Your options increase exponentially when you communicate. This means speaking with your landlord, mortgage servicer, or bank.

There are a multitude of options available from your lender such as:

  • Forbearance
  • Refinance your loan
  • Recasting your loan
  • Selling your home
  • Short Sale for those who owe more than they can sell the home for
  • Foreclosure – may be the best options in some cases (make sure to talk to an attorney before going this route, or any other)

To learn more about what your options are if you’re having trouble making payments, watch the short video above.