Why People Fall Victim To Foreclosure
People become vulnerable to foreclosure after missing a few payments and can no longer meet their mortgage monthly obligation.
Why is that?
It usually starts with a catastrophe event in one’s life.
A lot of the times it is some sort of crippling financial hardship like the main family income earner becomes sick, laid-off, fired, disabled or dies.
A divorce can also make you a victim of foreclosure.
Suffering the loss of your spouse’s contribution on the mortgage, utilities, homeowner’s insurance, home maintenance and homeowner’s taxes can lead to late payments, stress, collectors and eventually, foreclosure.
Falling home prices in a buyer’s market drains your equity sometimes to the point where you owe more than the house is worth.
People with (Adjustable Rate Mortgages) ARM are sometimes blindsided by the rate adjustment. They become devastated as they can no longer afford the adjusted payment.
There are probably hundreds of thousands of legitimate financial hardships people go through.
Home ownership has been the American dream for years.
But for those who are being strangled by foreclosure, it is an American nightmare.
Sometimes you can’t control your circumstances but can try and control the damage.
Call us today. No consultation fees or obligations.
We specialize in helping people know all their options when negotiating with the bank in order to “buy time” in their home.
Fed up with homeownership?
If that is the case, not all is lost, we will make you a fair offer to buy your home as it sits fast for cash.
Contact Bob or Josie at 303-3454-5450.