Mortgage forbearance during COVID-19: What to know and what to do

Mortgage forbearance during COVID-19: What to know and what to do
Among those who’ve faced a dramatic change in financial situation from the pandemic or other events and are having trouble paying mortgage during COVID in Connecticut, the time to act is now.

Behind mortgage payments? Having trouble paying mortgage during the COVID pandemic? It’s estimated that 430,000 homeowners who previously qualified for government-backed mortgage forbearance programs did not apply for these benefits and are behind on their mortgages. The moratorium on government-backed mortgages is now ending. An average of 1 in 10 homeowners in the United States are behind on their payments. These homeowners are facing the possibility of foreclosure and eviction. This year in 2021 may find among the mass of homeowners with properties they need to sell, that some are predicting to be flooding the market in the next year. You can be ahead of the crowd by selling to a professional buyer before that stage is reached. 

Among those who’ve faced a dramatic change in financial situation from the pandemic or other events and are having trouble paying your mortgage during COVID in Connecticut, the time to act is now. You could be faced with a credit score that is ruined, the loss of any equity in home and being forced to move.  Bank or financial institution should be in communication with some options but having chance to pull out is an important talk to have with them. One of your options is to consider the advantages of selling to a professional home buyer now, without any of the last-minute surprises with inexperienced buyers who often end up failing to close. Unlike traditional listings with a Realtor, you’ll have a guaranteed sale, a solid closing date that can rely on to avoid foreclosure while preserving your credit and financial future. 

Having trouble paying your Connecticut mortgage during COVID, using traditional home sales method means you might have to spend thousands of dollars to present home on the market. Unless your property is new or in great condition, you will need to complete repairs on safety issues, and possible renovations and upgrades to the heating, cooling, or electrical systems. 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.  This year may look much brighter for you by making the decision to sell to an experienced professional buyer whose offer should be for the house “as is” so there won’t be any of these deductions from the price you’re offered. 

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. Especially 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 your lender is contacting you about the foreclosure process can lead to many anxious moments. Owning a home has always been part of the American dream, and to feel that is being taken away can be heartbreaking and very unsettling. Listing your home in a traditional method, either with a real estate agent or selling it by owner, could generate an entirely new source of stress. Although the real estate market is quite healthy at the moment, you have no guarantee of if or even when your home will sell.  Your days and evenings are constantly interrupted by showings and you must keep your home clean and tidy at all times. This type of pressure can affect all members of your family in every other aspect of your daily life.  If you are having trouble paying your Connecticut 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 CT Cash Homes, LLC. To learn more about us and what we can do for you, send us a message or give us a call today at 860-249-0950

CT Cash Homes are different than any other buyers. After you contact us and give us the property information, we will make you a fair, all-cash offer within 48-hours, and that is not even the best part. We never tell you when to close. YOU get to choose. If you are looking to close quickly, we can wrap up the deal and get you the cash in as little as 7 days. To get started, you just need to give us a bit of information about your house and the situation that you are in. To contact us, simply fill out the form on this page, or give us a call at (860) 249-0950 for a faster response. It is our goal to make your life easier by getting you out from under the property that is causing you problems and stressing you out. We can do this by paying a fair and honest price for your house quickly.

Media Contact
Company Name: CT Cash Homes LLC
Contact Person: Steve Michaels
Email: Send Email
Phone: (860) 249-0950
Address:225 Oakland Rd unit 202
City: South Windsor
State: Connecticut
Country: United States