Let's face it, we are in tough times. This isn't news to anyone. We feel it each time we fill our cars with gas. We are reminded each time we cash our employment checks and can't recall our last raise or bonus check. We've held on. We've been patient. We've hoped and waited for things to get better. They said things would get better. But here we are still struggling to get ahead or even just to pay our bills each month.
So where do I go from here? Do I continue to hope the equity in my home will come back? Do I try one last time to get a loan modification from my bank? And what if I'm one of the lucky ones to actually get my payments reduced a little? In the long run does it really matter if I may never be able to sell my home and pay off the mortgage?
Sure, I can afford my payments now, but for how long? I'm slowly dwindling my savings. What if I have kids to send to college or what if my mother is getting older and I may need to care for her or what if someone gets sick or in an accident and I have no cash reserves? And what about my retirement-I won't be able to count on Social Security to be around for me.
Is keeping this home going to ruin my financial future?
More and more homeowners are finding themselves thinking these very thoughts. These are the people who kept their jobs throughout the recession and were able to scrape by and keep their homes as well. They struggle, but because they can make their mortgage payment they don't think they have a hardship. This is what I call a "future hardship". Sure they can keep up the payments for now, maybe even for the entire length of the loan, but they compromise their future and that of their families to do it. If you or someone you know is struggling to make their mortgage payments now or may in the future, please call. Find out what OPTIONS are available to get your family's financial future back on track.
There are options for people in all different financial circumstances.....even for people who are current on their mortgage.
Comments (8)Subscribe to CommentsComment