Money can get tight if you have unexpectedly lost your job, you have experienced untimely health problems, or if the dynamics of your family have changed. As we reviewed in our last post, these are just a few of the reasons why Kansas homeowners may be unable to afford their mortgage. Thankfully, there are foreclosure solutions out there for struggling homeowners, and in today’s post, we’ll review a few tips to help you avoid foreclosure on your home.
Are you looking for foreclosure solutions in Shawnee? Cash 4 Kansas Homes is here for you. We buy houses in any condition, and if you need to sell your home quickly, we’d love to make you a fair, all-cash offer to buy it from you. Call our team at 913-276-0769 today to learn more about the benefits of our home buying process.
Tips to Avoid Foreclosure
Face the Issue Head On
Many homeowners feel ashamed when they cannot afford their mortgage, and as a result, some choose to avoid the issue in hopes that it will go away or somehow resolve on its own. The first step in avoiding foreclosure is to face the issue head on. The longer you wait to acknowledge that foreclosure is a possible outcome, the further behind you may fall in payments, making it more difficult to find financial relief that is affordable.
Communicate with Your Lender
One of the worst things you can do is be unresponsive when your lender calls or sends you mail about your lack of payment. If you don’t respond to their contact attempts, your lender has no option but to think that you have no intention of paying your mortgage, unless you contact them to explain otherwise. Communicating with your lender and responding to their inquiries is the best way to explore potential foreclosure alternatives.
There are a wide variety of foreclosure solutions available to Kansas homeowners through the U.S. Department of Housing and Urban Development (HUD). We reviewed some of these programs in a prior blog, and they may allow you to modify, refinance, or temporarily suspend your mortgage. Locating a HUD-approved housing counselor is a great place to start, and you can do so by calling 1-800-569-4287.
Check Your Spending and Review Assets
Major life changes such as divorce, unexpected job loss, and health problems often trigger the financial hardship that makes it difficult or impossible to make a mortgage payment. However, for some Americans, financial difficulties are caused by poor spending habits. If you are facing foreclosure, examining your current spending habits and reviewing any assets that you might have could be beneficial for generating additional cash flow.
Consider Selling Your Home
Unfortunately, even proactive communication, education, and limited spending are enough to help some homeowners avoid foreclosure. If you feel that the foreclosure solutions we have reviewed so far won’t prevent your home from going into foreclosure, it might be wise to consider selling your home. Selling it to an experienced homeowner for cash might be just the solution you have been looking for.
Foreclosure Solutions in Shawnee
Are you hoping to avoid foreclosure in Shawnee? If you have exhausted all of your other options, selling your home might be the best solution for you. Our experienced team of home buyers would love to speak with you about your situation, assess your home, and determine if working with our team is right for you. We pride ourselves on providing a real estate solution that is 100 percent transparent, and you can rest assured that we will always keep your best interests in mind throughout every step of the process. Take the first step to financial freedom and request your cash offer today!