Stop Worrying About Foreclosure
July 8, 2021
New Jersey Homeowners - Maybe You Can Stop Worrying About Foreclosure.
I recently read an article that I felt I needed to share with New Jersey people who are afraid of foreclosure.
The article was entitled "Fears of a Foreclosure Crisis Are Waning". The article said "foreclosures are almost certain to remain extremely uncommon until 2022 at the earliest...It's almost the exact opposite of what we saw during the last financial crisis... Next year there will be a lot of efforts to provide forbearances and workouts...For the time being...foreclosure is one thing that most homeowners don't need to worry about."
I believe that the basic premise of this article is correct. I have clients who haven't made a mortgage payment for 3 years and more, and they still are happily living in their homes. I expect that sooner or later they will be offered a reasonable loan modification or some other favorable relief, and even though they haven't made a mortgage payment for a very long period of time, I don't think that they will need to worry about foreclosure.
So if you fear foreclosure and have been worrying and losing sleep, why not call your mortgage servicer and ask them what kind of programs they have available to help you.
You just might be very happily surprised at all of the options you have, and your fear just might turn into faith that you are indeed going to be able to save your home.
We wish you all the best, and if you'd like my free Ebook, "Don't Fear Foreclosure, Fight Foreclosure", please email me at email@example.com.