Hard times hitting home? Here are ways to avoid foreclosure amid pandemic
As soon as you realize you might have trouble making your mortgage payments, you’ll want to get in touch with your lender. You do not want to wait until you can’t pay your bills to contact your lender. If foreclosure is something you fear you might face, the following are options you may have available to you. Mortgage forbearanceAccording to USA.gov, federally backed home loans can get six months of mortgage help, and Federal Housing Administration reverse mortgages are eligible, as well. There are many options available to you, but the bottom line is: Contact your lender, and do not wait until it’s too late.
LIST: Check out these impressive foreclosed Houston homes that are available right now
As home listings have decreased by about 5%, listing prices have increased due to the low demand and stay-at-home orders issued in Texas counties. In the Houston-area, there are fewer people listing homes for sale, according to the Houston Association of Realtors. According to Chairman John Nugent, real estate workers, who were designated as “essential workers” by Gov. Greg Abbott, are highly encouraged to use online resources such as Zoom to conduct virtual open houses and sending documents electronically. We found five pretty impressive homes available through foreclosure in the Houston area.