First of all, I know this will be difficult if you are in a possible foreclosure situation, but please DO NOT PANIC. And I should also add, do not do anything crazy. There is help (besides from us) and there is a solution for any problem.
Most people that get into financial trouble and have difficulty paying their mortgage is because they have a variable rate mortgage that goes up higher than they can afford. If that is your situation, do not just stop paying.
Start with contacting your bank or mortgage lender and talk to them about possible solutions for you. The bank wants to continue getting paid for the money they loaned you, so they might be willing to change payments, hold a payment, refinance to put you into a different rate, or add you to some sort of relief program. So again, start with contacting your bank, talking kindly, and asking them to help you. If you are afraid or just don’t want to and need Ty to help you with it, call Ty at 978-206-1074.
If your bank can’t or does not want to do anything about changing your mortgage rate, Massachusetts has a program through the Mass Housing department that may be able to change your rate to a better, fixed rate amount.
You can also call 1-800-995-HOPE (4673), which is a toll-free hotline staffed by trained professionals to help you figure out your mortgage paying options. That’s 1-800-995-4673.
Don’t forget – we are here to help. Please call us at 978-206-Ten74 if you need us.
All blog posts written by Ty unless specified otherwise.