Mortgage assistance to get back on track

Most people hear “mortgage assistance” and think of individuals trying to keep their homes. However, many individuals still need help after falling behind on mortgage payments, regardless of proximity to foreclosure. Although they may not be in jeopardy of losing their home just yet, the inability to stay up on mortgage payments makes it impossible to move and can render them unable to reach life milestones, make exciting new changes or invest in their futures.

Relocation

If someone is looking to relocate, they won’t be able to sell their home without covering the losses. That can make buying their next home more challenging. Relocation isn’t just something people do frivolously or when they’re looking for a change. It can be a major factor in the trajectory of a person’s life. For example, you might want to take a job opportunity that requires you to find a new place to live, or you could even be looking for a safer neighborhood. Whatever the reason, you should be able to do so without the financial burden of late mortgage payments.

Downsize or expand

Over time, a home can sometimes become too small or too big! If you have a family that’s growing in size or a roommate that’s moving out, you might be looking to move to a space that better fits your needs. Whether you’re planning for the future or adapting to new circumstances, mortgage payments shouldn’t hold you back.

Gain capital

Another reason individuals may be looking to move is a need for additional capital. When you purchased your home, you made a significant investment. If you were to sell it, there’s a possibility you may make more than you initially paid for it. This extra capital could go toward your savings or even a down payment on a new place to live. But once again, you can’t sell your home for additional capital if you’ve fallen behind on paying your mortgage.

While the inability to stay up on mortgage payments can make dreams of moving or changing seem impossible, United Housing is here to help. Through our COVID-19 Mortgage Relief Program, we’re helping people like you keep your home, relocate, downsize or to sell. To learn more or to see if you qualify for mortgage assistance, click here. And if you’d like to hear more about the other homebuyer resources we offer, visit our website today.