Do you have a Forbearance with your Mortgage?
Shortly these will be due, or a payment schedule will be structured for you to repay these funds. According the CFPB lenders have till the end of the year to decide what to do, so you need to start thinking about this now.
Do you know what to do at that time?
Do you sell?
Do you do a short sale?
Do you just make the higher payments?
If you need assistance, call a Realtor®. As a former title agent, during the last mortgage crisis, I had to deal with many, many short sales and the hardship it brings on a family. So make sure you work with someone who has experience.
Here are some quick tips to help you decide what to do….
1. Do not avoid your lender. Open communication is key. You might not like what they are saying but avoiding them just creates bigger issues. Take notes and get names, as well as document date and time you spoke with them.
2. Organize your financials, this will help the lender decide what the best solution is for you.
3. Consult with your Realtor® on the next steps to see if those solutions work for you or if there are other options you might like better.
Feel free to give me a call at anytime to go over what your options are and to see what your next steps are. Do not wait till it’s too late to explore your options.
You can text, call or email me at any time. 386-301-3280 – kdavis@grandlvingrealty.net or visit my website - www.kdavis.flaglerhomes4sale.com.