“What do You Think We Should Do?”
It seems every time we get into issues with our mortgage you seem to come up with a solution. Mary and I have both been out of work for a number of months even before the virus. I am now back to work, but we are over a year behind. The bank had started a foreclosure, but everything had stopped for now. What do you think we should do?
Even though I shared my thoughts, they didn’t like my recommendations.
The have over $100,000 in equity in their home and they have about $20,000 in credit card debt. No matter what they end up with at least $80,000 after paying all their obligations.
I suggested that they rent for at least a year, allow their credit to improve during that time and if they wanted to own again, they would be in a much better position to become homeowners again. What would you recommend?
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
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