I’m Struggling With My Mortgage, Where Can I Turn?
As the “recovery” from the recession continues to move along at a snail’s pace a question sadly continues to be asked on a routine basis.
“I’m struggling with my mortgage. What are my options?”
We’ve discussed on several occasions the options that are afforded to those that are struggling with their mortgages.
I had a great discussion with the folks at the Ohio Housing Financing Agencyduring the Ohio Association of REALTORS Convention and Expo about this exact topic.
[media-credit name="savethedream.gov" align="alignleft" width="293"][/media-credit]One of the most under-utilized aspects in your arsenal as a home owner are the accredited housing agencies that are supported by FHA and OHFA. If you picked up the phone and called a guy that worked for McDonalds and asked “I’m hungry for a burger where should I go?” What would you expect him to say? He works for McDonalds so in theory he’s going to suggest the Golden Arches.
The people you are talking to in your short sale discussions are very similar. Should you do a loan modification, sell your home in a short sale, file bankruptcy or something else? Well if you ask a person that has a vested interested — like a REALTOR — then you have to keep that bias in mind when you evaluating the responses.
Which is why the counseling agencies are great places to gather information and learn more about your options. Why? Your decision doesn’t have an impact on them getting paid. There are several Central Ohio Counseling Agencies and they include:
- CCCS of the Midwest, Inc., Columbus, 800-355-2227
- Columbus Housing Partnership, Columbus, 614-221-8889
- Columbus Urban League, Columbus, 614-257-6300
- Homes on the Hill, Columbus, 614-275-3060
- Mid-Ohio Regional Planning Commission, Columbus, 614-233-4177
Fore more information the Save the Dream initiave visit www.savethedream.gov or call 888-404-4674,