By Adam Hebener, Modern Mortgage
(Ed Note: Adam Hebener is one of our best lenders for Hotz Group Clients. He is reliable, honest and trustworthy. He has closed mortgage loan for our clients for many years. In addition, we usually find his mortgage interest rates are competitive. Here is his take on how to stay in your Denver home during the corona-virus pandemic and avoid foreclosure.
How to Avoid Foreclosure During The Corona Virus Shutdown
At this point it seems almost cliché to say something like, “We find ourselves at the end of another tumultuous week.” The truth is that this last week redefined what “tumultuous” means in financial markets.
Coming into this week, we were at the bottom of an almost 30% slide in the Dow Jones; that slide was answered by a three-day historic “bull run,” sparking hopes that the COVID-19 crisis might be coming to an end. As attractive as I find the thought of being back to “normal,” I know that just isn’t a possibility.
Setting aside all the questions and clouds of political parties and personal ideologies, the math remains unmoved. And, the sad fact is that COVID-19 pandemic is just getting started.
You May Be Able to Skip Mortgage Payments
Even with the long run ahead of us, there are still many bright spots in our country and our way of life. Some of the good news is practical, like the fact that leadership is going to bring relief to many homeowners who surely would face foreclosure otherwise. Click here to learn more from an interview with the leader of the Federal Housing Finance Agency. Real estate remains the one asset class that so far has weathered this storm remarkably well in Denver, and this FHFA development further reduces the chances of real estate values falling.
Denver Mortgage Loan Interest Rates
We’re here to serve clients and their Realtors including Elizabeth, Meredith and Larry of The Hotz Group at Kentwood Real Estate Sign up for our daily mortgage interest rate snapshot for purchase transactions . In addition, this website, All Denver Real Estate Blog, offers current mortgage interest rate average for the nation.
While the future remains opaque, we don’t need to be able to see the future to see the right actions to take. In addition to avoiding a foreclosure on your Denver home, there are other priorities to consider during this virus pandemic. Focus on actions that improve and protect each category of your life. In your financial life, do what you can to obtain at least six months of expenses in savings. In your family life, say what should be said. Hug and kiss and laugh. In all things, consider what is most essential and waste no time.
Contact me anytime about avoiding foreclosure during the pandemic or any other lone home question on the form below!
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