So many people in mortgage deferment November 2021
Still not paying your mortgage? . . . . I was surprised to find that after speaking to so many people lately that they are on some type of deferment of their mortgage. Since I have been in the business for almost 20 years now, I have seen what happened in the previous crash in 2007-2009. For so many, it may not be easy to get back in the habit of paying your mortgage after so much time has passed without paying the mortgage. Some of my customers that I spoke to have not made payments in over a year now and they are still struggling and have to start making a mortgage payment in January 2022. There has to be other options for these struggling people, especially since food costs, gas and just about everything has almost doubled in price. The banks were quick to offer the deferment but are they going to offer solutions to assist in getting back on track with the mortgage? This is where foreclosures start happening because people get discouraged that there are not any other remedies to assist them. Depending on your mortgage company, there may be some light at the end of this dark tunnel so many have gotten into. There is loan modifications, short sales and even bankruptcy that can assist in getting back on track.
STELLA BARBOUR Principal Broker Nova Brokers, LLC 1483 Chain Bridge Road Suite 103 McLean, Virginia 22101-5703 571-814-3002 OFFICE 703-999-6104 CELL 571-281-2866 FAX