MEDICAL BILLS PILING UP?
I can offer you FREE help, professional help and possible reduced monthly payments.
High medical bills are certainly not something you expected when you purchased your home. It is not your fault and the last thing you need to be burdened with is medical bills you can’t pay and a foreclosure. There are solutions that enable you to keep your home and get through all of this.
There are so many personal situations related to medical bill issues that I could never cover all of the solutions here. I will give you some of the common solutions to help you solve your foreclosure. Please know your situation deserves personal attention.
The first question you need to make is…”Do I want to keep my house or do I know I cannot afford my home any longer?” Most people want to keep their home so we will start here. If you want to sell your home even if you are up-side-down with your mortgage click here.
COMMON STRATEGIES TO KEEP YOUR HOME
- Modify [1] your loan to reduce the payment amount and or put all the missed payments on the back end of the loan. The beauty of this is that you can live in your home for months with no house payment while we negotiate a lower payment with your bank. You can even rent your home out & collect rent if you have to, or want to move.
- Forbearance [1] is a process that involves getting the bank to reduce your house payment to around 31% of your gross income. In most cases this is not a solution for high medical bills unless your income has changed.
- Bankruptcy [1] is an option but must be considered carefully and your selection of a lawyer is critical to your success. I work with caring qualified lawyers who not only specialize in mortgage loan issues but also bankruptcy. You get the best of both worlds with the lawyers I work with. Bankruptcy can be a good solution if you have medical bills you can’t pay; however, bankruptcy is an option that needs to be considered carefully. I am certainly willing to help you consider bankruptcy…just call me at 801-635-4756.
- Lease Option [1] is a path that will work if you have some equity in your home. Please call me at 801-635-4756 to discuss this option.
COMMON HOUSE PAYMENT ISSUES
- You have been inundated with medical bills you never knew you would have.
- In addition to medical bills you may have a high interest rate mortgage. Now there are two issues to solve.
- A modification combined with a bankruptcy may be a solution for this type of problem if you are currently employed or unemployed with the prospects of employment soon.
- A forbearance may or may not work depending on your income level and your ability to increase your income.
- A chapter 13 or 7 bankruptcy may work if your income levels support what the outcome of the bankruptcy would be.
- A Lease Option is always available if you have equity in your home. Always remember that using a modification and forbearance combination can stall a foreclosure for months and even more than a year.
- Your living expenses have gone up so much it is hard to afford your house payment.
- A modification will work to put the missed payments on the back end of the loan. The next step would be a forbearance to temporarily lower your house payments. This will give you time to work on a plan to permanently lower your house payment or increase your income.
There are many more payment situations that could apply to you. I am here to help you sort through all of it.
My Promise to You
As you can see each mortgage payment situation is unique to you. Weather you choose to have me help you for no cost or you hire a professional I personally recommend for your modification, forbearance or lease option, I am here to listen to you and help you with the best solution out there.
