It’s no secret that the COVID 19 pandemic has caused a ton of problems for people around the Untied States. People have lost their jobs, or had the amount they can work cut back. Business have closed due to the forced shut down. As a result many people are struggling paying their bills especially their mortgage. It is estimated that over 400,000 homeowners that could qualify for government backed mortgage forbearance programs didn’t end up taking advantage of this program. As a result many are now behind on their monthly mortgage payments. As we get into 2021 the moratorium on these government backed mortgages will end. Right now 1 in 10 home owners is behind on their payments, many of them living with the fear that they will face foreclosure in 2021. Chances are if you are reading this article you may be living daily with the fear that a foreclosure will be coming your way. You may find yourself in a situation with other homeowners where you need to sell you home within the next several months. You do have options, but you need to act now if you are struggling paying your mortgage during COVID.
Time Waits for No One
If you’re among those who’ve faced a dramatic change in financial circumstances from the pandemic or other events and having trouble paying your mortgage during COVID in Kansas City Metro , the time to act is now. You may find 2021 beginning with the ruination of your credit, the loss of any equity you’ve built in your property, and being forced to move. Without extreme measures ahead of the important deadlines, your lender communicates to you, your chance to pull out of the nosedive will come and go, beyond your control. When you’re considering your option, it’s important to consider the advantages of selling to a professional buyer now, with none of the last-minute surprises of inexperienced buyers who often end up failing to close. Unlike traditional listings, you’ll have a guaranteed sale, a closing date you can rely on to avoid foreclosure while saving your credit and financial future.
Investing to Exit
What can you do if you are struggling paying your mortgage during COVID? If you are having troubling paying your mortgage in Kansas City listing your home with an agent may be the way to go. As an agent in Kansas City I can tell you first hand that if you have a little time and your house is ready to go then right now is a good time to list and sell on the open market, as long as you have considered all of the things that go into listing your home. If your home is brand new or is in HGTV ready condition you can expect that you are going to have to put money into your home to get it listed. That could mean possible renovations, upgrades to appliances or electrical systems, and even updating the HVAC system. All of these could end up costing you thousands and likely if you are reading this article you don’t have to money available to do these upgrades. Now don’t get me wrong you don’t always have to do these upgrades, but if you are expecting a quick home sale and expecting to get market prices your home needs to be in tip top shape.Additional expenditures will also be required, going towards the advertising efforts necessary to make your home stand out. A real estate agent would also likely include a staging strategy at your expense as well. Not only will you be facing all of these expenses, but you will also have to pay commissions and closing costs out of the profit, if any, from your sale. When you’re already struggling to stay afloat, these costs may be impossible for you to afford. 2021 may look much brighter for you by making the decision to sell to an experienced professional buyer, you will know their offer will be for the house as is, and there won’t be any of these deductions from the price you’re offered.
Distress
While it’s easy to quote statistics and gather data to clearly indicate the exact costs of going through all of the steps of foreclosure, calculating the emotional toll isn’t such an easy job. After struggling for months to survive financially, during a global pandemic. Life during the pandemic has brought forth turbulence in society, which can be very unsettling. On top of this, knowing that the bank is contacting you about going into foreclosure can lead to many sleepless nights. Owning a home is a big piece of the American dream, and to see it lost can be heartbreaking in and of itself. Listing your home in a traditional method, either with a real estate agent or selling it by owner, means an entirely new source of stress. With an open-ended method of cells, such as in traditional listings, you have no guarantee of if or even when your home will sell. Not only this, your life is constantly interrupted by showings and you must live at all times as if a photographer for a magazine is on the way. There is also the faint hope with every buyer that walks through the home, praying that this is the one that will solve your problems and give you financial relief. This type of pressure can affect every member of a family and relationships not only at home but at work and in every other aspect of your life, which can be devastating. If you’re having trouble paying your Kansas City Metro mortgage during COVID, why not consider selling now to a professional buyer? Avoid all of the sleepless nights and headaches with other selling options, otherwise, 2021 may bring not only financial disaster but emotional exhaustion for you and those you love.
Having trouble paying your mortgage during COVID? Without decisive action, you may lose your house in 2021 — why not avoid those impending foreclosure deadlines, spending more money just to sell the house, and lingering trauma to your family from the process, sell now instead to PSR Home Buyers. To learn more about us and what we can do for you, send us a message or give us a call today at (913) 708-1185!