Options that can help you stay in your home
When you talk to your mortgage servicer, or a housing counselor, they might bring up the options below. Take a look at the descriptions and short explanations, to prepare for those conversations.
Options that can help you stay in your home
When you talk to your mortgage servicer, or a housing counselor, they might bring up the options below. Take a look at the descriptions and short explanations, to prepare for those conversations.
Refinance
Consider refinancing if interest rates for new mortgages are lower than the rate you have now or extending your loan term would lower your monthly payments, and if you haven’t missed any recent payments.
How it works: You get a new mortgage to pay off your existing mortgage. You apply with a lender, qualify for the new loan, and pay the associated fees. The new lender may be able to lower your monthly payment by getting you a new interest rate, giving you a mortgage that takes longer to pay off, or both.
Modification
Consider contacting your servicer for a loan modification if you can no longer afford to make your regular mortgage payment.
How it works: A modification changes the terms of your loan. All or some of your missed payments are added to the amount you owe. Your monthly payments could also be lower, but it could take longer to pay off your loan.
Forbearance
Consider requesting forbearance from your servicer if you are having a temporary money setback like a job loss, illness, disability, or natural disaster.
How it works: Your mortgage payments are paused or reduced for a limited time while you get back on your feet. Forbearance doesn’t mean your payments are forgiven or erased. You can talk with your servicer about how to pay back your missed payments—over time, or when you refinance or sell your home.
Refinance
Consider refinancing if interest rates for new mortgages are lower than the rate you have now or extending your loan term would lower your monthly payments, and if you haven’t missed any recent payments.
How it works: You get a new mortgage to pay off your existing mortgage. You apply with a lender, qualify for the new loan, and pay the associated fees. The new lender may be able to lower your monthly payment by getting you a new interest rate, giving you a mortgage that takes longer to pay off, or both.
Modification
Consider contacting your servicer for a loan modification if you can no longer afford to make your regular mortgage payment.
How it works: A modification changes the terms of your loan. All or some of your missed payments are added to the amount you owe. Your monthly payments could also be lower, but it could take longer to pay off your loan.
Forbearance
Consider requesting forbearance from your servicer if you are having a temporary money setback like a job loss, illness, disability, or natural disaster.
How it works: Your mortgage payments are paused or reduced for a limited time while you get back on your feet. Forbearance doesn’t mean your payments are forgiven or erased. You can talk with your servicer about how to pay back your missed payments—over time, or when you refinance or sell your home.
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TESTIMONIALS
Hear What People Are Saying
" They do quality work in such a short time. I Highly Recommend!"
Linda Hernandez
"We ended up accepting another bid due to our schedule. Huge mistake!!! Luckily, Home Advocates Property Solutions was able to come and turn our project around. They are really good at what they do."
David Coursey
'' We were REALLY impressed with how easy everything was. From start to finish, they took our vision and made it even better!"
Nicole Anderson
Get In Touch
Working Hours: Mon – Sat 9:00am – 8:00pm. Sunday – CLOSED
Phone Number:
(904) 314-5592
Get In Touch
Working Hours: Mon – Sat 9:00am – 8:00pm. Sunday – CLOSED
Phone Number:
(904) 314-5592
© 2024 All Rights Reserved by Home Advocates Property Solutions.
© 2024 All Rights Reserved by Home Advocates Property Solutions.