Paying the mortgage can become a struggle, especially if you have fallen on hard times financially. Regardless of your financial situation there is a solution to your problems. Initially, it may have seemed that taking out multiple mortgages would do the trick, but the bills keep piling up and keeping up with them has become impossible. What should you do to fix this?
In a situation like this, time is of the essence. The longer you wait to deal with this problem, the fewer options there will be to handle the situation.
After ninety days of missed payments, foreclosure is a definite possibility. The lender has the ability to foreclose on your property and sell it to the highest bidder. Any time leading up until now is when action should be taken to prevent this. Foreclosure will remain on your credit report for ten years making it difficult to receive loans in the future.
A way to avoid foreclosure and successfully pay off your debts is to sell the home. If you can sell the property for more than what you owe, then you will be able to pay off the lenders and move into a more affordable place based on your current financial situation.
If difficulty making mortgage payments is something that you’re struggling with, there is a way out. At Gray’s Home Solutions we would be happy to help you and offer a way out of this sticky situation.
Call us today at 240-347-3141 and let’s discuss your home! Did you know that 95.7% of the time we can buy your home, and solve your problem.
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