Everyone feels like what problems they face are unique to them or their own household. And when you’re facing the possibility of losing your family home, you might feel more afraid and stressed than you have ever felt before; especially, if you have a spouse, children, or an elderly parent that you’re financially responsible for. Well, decide not to worry anymore. Instead, check out these proposed solutions to find which might work best for you.
A Distressed Property Solution
Many people have lost their homes due to past due mortgage payments or delinquent property taxes. Usually, the delinquency isn’t in excess of only a couple thousand dollars before the threat of being evicted becomes very real. If this is your situation, you are in need of a distressed property solution. Your mortgage company may approve you for a mortgage forbearance agreement due to a temporary financial hardship; including unemployment and health issues. A mortgage forbearance agreement puts a halt on foreclosure by decreasing the amount of money that you pay for your mortgage each month for a period of time, while helping you to catch up on the past due amount. Or, it can temporarily put a hold on your mortgage payments all together. With the recent foreclosure upset, many mortgage companies and banks have improved or reinvented the way that they do business with customers. Contact your mortgage company to find out how they may be able to help you—they won’t know you need assistance unless you tell them.
Another option to explore lies in contacting an expert private investor. If you’re someone who owns a home or raw land—such as, a vacant lot next to your home or undeveloped land elsewhere—a private investor will offer to buy your land for a cash profit in your favor. It’s possible that the proceeds from the sale of your property might be enough to cover your mortgage delinquencies. Choosing this option is becoming a precedent among homeowners because the financial pressure of the sale on personal pocketbooks is non-existent and, actually, provides relief. That’s because a private real estate investor will purchase your land or home in any condition, pay any past due property taxes and liens on the property on your behalf, and pay your closing costs. Contact Lucas Properties, LLC for further information on how you can sell your land or home and close for profit within seven days’ time.
Treasury Department Payment Plans
Believe it or not, the city in which you live actually does NOT want for you to lose your house due to back taxes and liens on your property. As intimidating as the Treasury Department may seem, your City Treasurer will probably be open to your participating in a tax installment agreement in which you can pay your past due property taxes like a bill each month. Granting you this privilege as opposed to foreclosing on your house helps to reduce the city’s property management costs. Contact your City Treasurer today for details. You might find that things look better than thought!