Having Trouble Paying Your Mortgage During COVID? What 2021 May Look Like For You in Westchester County

Having Trouble Paying Your Mortgage During COVID_ What 2021 May Look Like For You

Having trouble paying your mortgage during COVID? It’s estimated that 400,000 homeowners who qualified for government-backed mortgage forbearance programs did not take advantage of the benefits and are already behind on their mortgages. As the new year approaches, the moratorium on government-backed mortgages ends. Nationally, an average of 1 in 10 homeowners are behind on their payments. These homeowners are living in fear of the possibility of foreclosure and eviction. 2021 may find a mass of homeowners with properties they need to sell, that are sure to flood the market in the next several months. You can get ahead of the crowd by selling to a professional direct buyer before that stage is reached. 

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 are now having trouble paying your mortgage during COVID in Westchester County, the time to act is now! You may find 2021 beginning with negative events on 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

If you’re having trouble paying your Westchester County mortgage during COVID, traditional home sales mean a possible outlay of thousands of dollars to present your home on the market. Unless your property is brand new or in superb condition, you will need to complete repairs on normal issues, and possible renovations and upgrades to appliances or electrical systems, such as air conditioning. Additional expenditures will also be required, going towards the advertising efforts needed to make your home stand out. A realtor will likely include a staging strategy at your expense as well. Not only will you be faced with 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 to afford. 2021 may look much brighter if you make the decision to sell to an experienced direct professional buyer.  You will know their offer for the house “as is”, and there won’t be any of these deductions from the price 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 as easy when  struggling for months to survive financially; especially 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 the American dream, and to see it lost can be heartbreaking. Listing your home by traditional methods, either with a real estate agent or selling it by owner, means an entirely new source of stress. When selling the traditional way, you have no guarantee if or when your home will sell. Not only that but 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 that every buyer that walks through the home 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 Westchester County 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 not only bring 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 Astor Lane Homes. To learn more about us and what we can do for you, send us a message or give us a call today at (914) 266-0055!

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