The US economy is in the grip of a brutal recession which has affected the entire world. Businesses large and small are struggling to survive, or closing their doors. Many government entities and nonprofits are downsizing because of funding cuts. Many homeowners are facing the double challenges of reduced household income and constant or increasing housing costs. One in four home mortgages is “under water”: that is, more is owed on the home than the home is worth.There is help available. There are options. There may seem to be a bewildering array of options. HAMP, HAFA, and HAUP, as well as the definition and consequences of a “short sale”, are discussed in detail on our other website, www.DCShortSaleTeam.com. |
- HELP FOR HOMEOWNERSPosted on: 2010-09-06Here are a few brief, practical Do’s and Don’ts if you find yourself in the position of a “distressed” homeowner.
Do not
• Delay taking action
• Refuse to accept phone calls from your mortgage lender
• Hide from certified mail, legal notices, creditors
• Blame yourself for circumstances beyond your control
• Turn to drink or drugs to mask your pain
Do
• Seek expert help and guidance
• Communicate with your lender and creditors or credit counseling services
• Identify and evaluate your options
• Look for ways to minimize adverse consequences
• Know that you will learn from this experience, and survive it
People today are in financial trouble who have never before paid a bill late in their lives. People are being laid off who have never been jobless in their careers. If you find yourself suddenly in this boat and in turbulent, uncharted waters, you are not alone. We have helped many others. Let us see if we can help you. Call Ellen, Barry, or Grace at (202) 723-8907 for a confidential consultation.
Website:www.DCShortSaleTeam.comEmail:ellen@levyteam.com
