Property owners have been provided with an abundance of equity by the real estate market. One of the best advantages of this increase in equity is that it has provided the property holder with some protection against a financial slump. We are talking about this financial slump on a personal level rather than on a national level.
When it comes to financial hardships, the increased equity in your home furnishes you with decisions that you may take to confront it. Financial hardships could include:
- A rise in the insurance costs
- Unaffordability of repairing the house or property (such as the roofing or the central heating and cooling system)
- Personal misfortune or mishap
We have seen foreclosures happen to property holders who had equity yet decided not to be proactive. Indeed, there is a possibility that an equity-rich property holder can lose their home to foreclosure here in the Dallas/Fort Worth area. Why is this? It becomes difficult for a person to fight and remain on track once their world begins to fall apart. Your mind goes into a state where you keep thinking about the good times you had. You begin to wonder what could have got you to this point and if there was any way you could have avoided it. All of this can create a very depressing situation for a person. What’s more, with that downturn, that person is placed in a state of defenselessness or even denial.
Maybe we can talk and help you in these circumstances assuming that you are being pressured due to these problems and you might need a helping hand. Being authorized real estate professionals and foreclosure avoidance experts, we can provide you with the help you need.
Here are some results from research done by CoreLogic: January 2022, 3.3% of home loans were late by around 30 days. That 3.3% might not sound important, yet when you are involved in it, the impact becomes 100%. Thus, being proactive is the way to go, and how can you be proactive? Well, it begins with a call so that we may assist you in the matter.
If you are currently in a position where you are facing foreclosure or essentially need to dispose of your properties and carry on with a more tranquil life with less upkeep, we are just a call away.