Having Trouble Paying Your Mortgage During COVID? What 2021 May Look Like For You

Having Trouble Paying Your Mortgage During COVID_ What 2021 May Look Like For You

Having trouble paying your mortgage during COVID? Due to COVD-19 and its domino effect, many homeowners are behind on their mortgages. The possibility of repossession and eviction cause these homeowners to live in fear every day. It is extremely unfortunate, but 2021 may indeed find you among the mass of homeowners who are looking to sell their properties as soon as possible. This means there will be many properties flooding the market in the coming months. Why not be ahead of the pack and sell to a professional buyer before you reach that stage?

Time Waits for No One

If you’re among those who’ve faced a dramatic change in financial circumstances from the pandemic or other events and having trouble paying your mortgage during COVID, the time to act is now. 2021 may begin with financial ruin for many homeowners. This includes the ruination of your credit, the loss of any equity built in your property, and being forced to move out. When selling your property via a traditional estate agent there is a risk in the sense that you have no guaranteed closing date and you could meet many time wasting buyers who fail to close. By choosing to sell to a professional buyer, you will be guaranteed a sale and a closing date, so you can safely plan ahead for your financial future.

Investing to Exit

If you’re having trouble paying your mortgage during COVID, listing your property via an estate agent entails that you could possibly outlay thousands of pounds in repairs, renovations, upgrades, electrical work, and other issues. Don’t forgot the fees, commission charges, and legal costs. This can be disastrous while you are struggling to make ends meet. Choosing to sell with an experience buyer on the other hand, will give you greater peace of mind because their offer will be for the house as is, and there wouldn’t be any deductions from the price offered.

Distress

The emotional turmoil brought about by COVID-19 has exacerbated mental health issues, particularly stress. Just dealing with the pandemic is enough, but to add to that, knowing that the bank will be contacting you about repossession can lead to many sleepless nights.

If you choose to list your home via the traditional estate agent method this could lead to added amounts of stress. Not only would you have to pay for renovations, repairs, fees, commission charges etc, you would also have to ensure your home is spick and span at all times for photographers and potential buyers. You would also have to manage your time around showings, this cuts deeply into prime family time and the weekends. Another emotional rollercoaster is the faint hope that every potential buyer who walks through the door will be your financial saviour. This continuous pressure can adversely affect an already bad situation not just in terms of your financial situation, but also emotionally with your loved ones.

If you’re having trouble paying your mortgage during COVID, why not consider selling now to a professional buyer? Avoid all of the sleepless nights and headaches with other selling options, otherwise, 2021 may bring not only be a financial disaster but also an emotional exhaustion for you and those you love.

Are you having trouble paying your mortgage during COVID? Without decisive action, you may lose your house in 2021 — why not avoid those impending repossession deadlines, spending more money just to sell the house, and lingering trauma to your family from the process by instead selling now to Property Result . To learn more about us and what we can do for you, send us a message or give us a call today at 0191 369 2069!