April 30th, 2009
If you are like most Americans, you could be only sixty days from a financial crisis. With little savings and the onset of unexpected events, many families are financially vulnerable. A financial crisis can occur for a variety of reasons: job loss, mortgage interest increase, family death or illness, divorce or, as unlikely as it might seem, an inheritance. As the cost of living increases and more Americans are unemployed or their income is reduced, it can be difficult to stay afloat. People often become frozen in place when they find themselves financially stressed. It is not a good idea to stay paralyzed. It is a good idea to reach out and discover your options – and there are many. You may find you can restructure your loan, you may find you have enough equity to sell your property and find a place that is less expensive to buy or rent. You may have to sell at a loss, or you may be fearful of foreclosure. If you find yourself in a distressed situation, you may not have to lose your home if you act in a timely manner. There are options. Contact me at alex@realtorpdx.com or 503-869-1295 to explore them.
