Unfortunately, nearly one out of every four homeowners owes more on their home than it is worth. If that is you or you are concerned about keeping up with your mortgage payments, please check out this site by Fannie Mae. It is called Know Your Options. It is the absolute best resource site I have seen! It will answer any question you have and explains ever option out there. You might be surprised that you have more options than just walking away. Here are some great examples of typical dilemmas that are addressed on this site:
- I can make my payments but I can’t catch up on past due payments.
- I am current on my payments but I am worried about keeping up. Can I lower my payment?
- My income has been reduced and I need temporary help on my mortgage.
- I can’t afford my home but I don’t want to move.
- I don’t want to foreclose but I can’t sell my home for what is owed.
- I am ready to leave my home because I can’t afford the payments but I don’t want a foreclosure on my credit.
Please take a look if you have any of these same concerns and if you have additional questions, just let us know. That is what we are here for!
-Betsy, Atkinson-Thompson Group