5 Things To Know If You’re Facing Home Foreclosure

5 Things To Know If You’re Facing Home Foreclosure

These are strategies to help you through the process

Are you currently facing home foreclosure in Northeastern Florida? We understand that it’s very distressing to be on the brink of losing your home. It’s already a scary and uncertain time of life, the last thing you need is confusion about what the process looks like.

Since the pandemic, nearly 15% of mortgage holders have been in forbearance. Experts determined that at the end of 2021, forbearance overhang for mortgages would be around $14,200 per borrower

The Departments of Housing, Urban Development, Veterans Affairs, and Agriculture collectively announced a foreclosure moratorium at the beginning of 2021, after heavy prompting from the CDC.

As a result, President Biden allowed an extension of the forbearance and foreclosure relief programs, which were initially slated to expire on June 30, 2021.

The goal was to:

  • Offer relief for COVID-19-related forbearances against foreclosure. This meant  homeowners entering forbearance on or before June 30, 2020, could have up to six additional months of mortgage forbearance.
  • Protect homeowners of color who are disproportionately delinquent in mortgage payments due to COVID-19 hardship.
  • Create a central resource for housing assistance via the Consumer Financial Protection Bureau.

Seventy-five percent of  U.S. mortgages are federally-backed. Under the moratorium, homeowners with federal mortgages have had the option of skipping monthly payments for as long as 18 months– until now.

5 Things To Know If You're Facing Home Foreclosure - notice

Unfortunately, the programs and initiatives designed to protect you, a First Coast homeowner, are now failing.

Today, there are 1.75 million homes across the United States currently in forbearance, and 85,000 of them are located right here in Northeastern Florida. 

The Supreme Court has ruled against the CDC’s Foreclosure and Forbearance Moratorium. This leaves many homeowners across Northeastern Florida facing imminent foreclosure. If you’re one of them, you’re not alone. 

Home prices are at record highs while inventory is at a record low. Don’t let the bank steal the equity in your home! There are avenues to make the most of a difficult situation. 

If you’re facing foreclosure in Northeastern Florida, the best way to navigate it is by educating yourself. And you’ve come to the right place.

Get this free guide to help you navigate facing home foreclosure

Phil Aitken and his expert team have created a FREE Special Report called The 5 things you must know when facing FORECLOSURE!” It will help you understand this difficult situation and the best strategies to employ.

We understand how difficult it is to face foreclosure, that’s why we want to help. If you have questions about your circumstances, don’t hesitate to reach out. Our team regularly helps homeowners like you identify their best options to move forward.

Don’t feel discouraged because the situation is overwhelming and stressful. It’s possible to make it through and get help from professionals who understand the real estate industry.

In the meantime, you can start with the basics when your order your free report. It only takes a couple of seconds. Complete the form below or call me for a free, no-obligation consultation today: (904) 544-5252.

 

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Phil Aitken, Owner/Broker
Phil Aitken is the Owner/Broker with Your Home Sold Guaranteed Realty - Phil Aitken Home Team and has over 13 years of Real Estate experience. Phil’s faith and desire for his family’s continued security fuel his business growth and leadership. The Phil Aitken Home Team continues to profoundly impact the people of Jacksonville via supporting several faith-based organizations. Phil gives back a portion of every real estate transaction to The Tim Tebow Foundation and Rethreaded. Find Phil's full story here.