Job Loss
Figuring out the next step after losing a job can be an overwhelming decision. Job loss can lead to a substantial cut in the monthly income of your family and such a critical situation needs to be addressed quickly. If you have recently lost a job and therefore struggling to find a way to deal with your mortgage payment then you should keep reading this article where we are going to discuss the options post job loss.
What are the options after losing a job?
Loan mortification is a good way of lowering your monthly mortgage payments. You will be able to extend your loan terms and achieve a low interest rate through refinancing. However in order to be eligible for refinancing you need to have a cash flow to your name. Though refinancing might sound like a great idea, at times it if impossible for one to take up a part-time job while on a job hunting mission. If refinancing is not for you then another option is forbearance. If you manage to make a deal with your bank, they will allow you to skip a portion of your payments so that you can use up the time to be financially stable again. Through forbearance can provide you with short term relief, you’d still be accruing interest during the forbearance phase.
Sell your house and get the money quickly
When you are unemployed and desperately in need of cash to pay your bills and mortgage, downsizing can be an effective idea. You can always choose to sell your property, and buy a smaller one in a less expensive location with the proceeds from the home sale. Selling your home quickly would help you have the much needed money in your pockets so that you can do with it as you please. If you are really facing a financial crisis, then consider selling your home to a cash home buyer rather than selling it through a realtor.
Problems of selling your home through a realtor
Selling a home through a realtor is a time consuming process since you’d need to wait for months to land up with the right buyer. Even after finding the right buyer you might need to wait another few months for him to qualify for a bank loan. Moreover you also need to dole out lots of money to get your home repaired and presentable. So, if you are looking forward to lay your hands on the cash ASAP, a realtor isn’t going to be of much help.
How can a cash home buyer help you?
Cash home buyers are home investors who are ready to purchase any property regardless of its location or condition. You need not repair or clean your property before their nominated appraiser visits your place. Moreover cash buyers always have ready cash to pay you off and close the sale within just one week or ten days. While dealing with a cash home buyer you can be sure to get the cheque within a week. So if you are really in need of some cash to pay off the debts after a job loss, consider talking to a reputed cash home buyer today.
What are the options after losing a job?
Loan mortification is a good way of lowering your monthly mortgage payments. You will be able to extend your loan terms and achieve a low interest rate through refinancing. However in order to be eligible for refinancing you need to have a cash flow to your name. Though refinancing might sound like a great idea, at times it if impossible for one to take up a part-time job while on a job hunting mission. If refinancing is not for you then another option is forbearance. If you manage to make a deal with your bank, they will allow you to skip a portion of your payments so that you can use up the time to be financially stable again. Through forbearance can provide you with short term relief, you’d still be accruing interest during the forbearance phase.
Sell your house and get the money quickly
When you are unemployed and desperately in need of cash to pay your bills and mortgage, downsizing can be an effective idea. You can always choose to sell your property, and buy a smaller one in a less expensive location with the proceeds from the home sale. Selling your home quickly would help you have the much needed money in your pockets so that you can do with it as you please. If you are really facing a financial crisis, then consider selling your home to a cash home buyer rather than selling it through a realtor.
Problems of selling your home through a realtor
Selling a home through a realtor is a time consuming process since you’d need to wait for months to land up with the right buyer. Even after finding the right buyer you might need to wait another few months for him to qualify for a bank loan. Moreover you also need to dole out lots of money to get your home repaired and presentable. So, if you are looking forward to lay your hands on the cash ASAP, a realtor isn’t going to be of much help.
How can a cash home buyer help you?
Cash home buyers are home investors who are ready to purchase any property regardless of its location or condition. You need not repair or clean your property before their nominated appraiser visits your place. Moreover cash buyers always have ready cash to pay you off and close the sale within just one week or ten days. While dealing with a cash home buyer you can be sure to get the cheque within a week. So if you are really in need of some cash to pay off the debts after a job loss, consider talking to a reputed cash home buyer today.