Is Mortgage Payment Pressure in Melbourne, FL Stealing Your Holiday Joy?

Real Estate Agent with RE/MAX AEROSPACE REALTY SL3236966

The holidays should be a time to focus on family, friends, and the joy that comes from celebrating this special time of year.  Unfortunately, the economic downturn, decreasing home values, and high unemployment have increased the financial pressure stressing many families in Brevard County, Florida.

I am sure this isn't news to you, but I want you to know that if you or someone you know is having trouble keeping up with mortgage payments, there are solutions and there is hope.

One solution is a mortgage modification where the lender changes the interest rate, the principal balance, and/or the terms of the loan.  This may be the best option for homeowners who can almost meet their monthly mortgage payment, but are unable to pay in full.

Another solution is the Home Affordable Refinance program for Fannie Mae or Freddie Mac owned mortgages.  This allows homeowners who would not normally be able to refinance due to a decline in their home's value to still refinance their home and lower their monthly mortgage payments.

If you don't qualify for the solutions above, a short sale is a positive alternative to foreclosure.  In a short sale situation, the homeowner owes more on the house than its current market value and is also experiencing financial hardship.  A short sale has many advantages over foreclosure, including a lesser impact on credit scores and eligibility for a future home loan.

If you or someone you know in the Melbourne / Viera area of Brevard County, Florida is having trouble making mortgage payments, don't let financial pressure be the Grinch that steals your holiday joy.  I will work on an appropriate solution for your situation.  Beware of foreclosure rescue scams - this help is free!  For more information or to contact me, visit my website at

May you experience Peace and Blessings this holiday season!

Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Laura--such good advice that needs to be repeated over & over.  Hopefully those that need to hear will while there is still time.  Unfortunately many are in denial and consequently they lose the possibility of a solution.  Happy New Year.

Jan 01, 2011 06:16 AM
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Laura - I agree with Mary; some things have to be said over and over again before they sink in! great post!

Jan 12, 2011 05:57 AM