Norfolk Buyer helps local residents in financial hardship who can no longer afford their mortgage. The home buyer offers fast cash for homes in Chesapeake, VA.
Norfolk Buyer is helping homeowners in financial hardship by offering fair, appropriate all-cash offers on homes. The homeowner can take the cash in hand, usually within seven days, and can set the closing date at a convenient time. This fast, worry-free solution is a relief in these times of financial hardship.
The COVID-19 situation has resulted in a challenging environment for many homeowners who find themselves temporarily out of work, furloughed, or permanently terminated by their employer. Keeping the utilities paid and buying groceries leave only a few dollars for the monthly mortgage payment. Homeownership is the “American Dream.” In these rocky financial times, what can a homeowner do when the “American Dream” of homeownership becomes a nightmare?
Lenders are offering some assistance, but it is only temporary. Federal lender Freddie Mac offers these temporary stopgap measures to ease the pain:
“Our COVID-19 Response: Freddie Mac staff is working to ensure that our employees, customers, and borrowers are protected from the direct and indirect impacts of coronavirus (COVID–19). We are taking action to help make sure homeowners with Freddie Mac-owned mortgages who are directly or indirectly impacted by COVID–19 are able to stay in their homes during this challenging time.”
Their assistance includes offering the following mortgage relief options for those who are unable to make their house payments due to a decline in income:
- Providing mortgage forbearance for up to 12 months which allows the homeowner time to work out a solution without losing their home
- Waiving assessments of penalties and late fees
- Halting all foreclosure actions and evictions of borrowers living in Freddie Mac-owned homes until at least May 17, 2020
- Offering loan modification options that lower payments or keep payments the same after the forbearance period
Forbes Magazine reports in an article entitled, “Mortgage Payments Interrupted By COVID-19? The Federal and State Response,” that the future seems to be clear for homeowners who find themselves having to endure financial upheaval due to the COVID-19 crisis:
“Tenants and homeowners ultimately will still be responsible for making their rent and mortgage payments. Only a few jurisdictions (state, county, or city) have put in place initiatives that go beyond temporary forbearance to potentially provide financial assistance to some homeowners and tenants.”
What does this mean? It means that as soon as the temporary measures to help homeowners are expired, monthly mortgage payments must still be paid. Homeowners must work out a plan to settle their mortgage payment shortfall.
Several options are available to the homeowner. Foreclosure crushes credit ratings, and bad credit could delay the purchase of another home for years.
Listing with a traditional realtor to sell the house at market value could take many months and be very costly. Repairs, showings, and the agent’s commission could exhaust the homeowner and drain what remains of any financial reserves.
Other options are available. A great option is Norfolk Buyer, a foreclosure solutions expert. The team of real estate experts and investors come beside frustrated and, at times, hopeless homeowners whose “American Dream” has become a nightmare. The free, no-obligation advice helps homeowners face and overcome the financial hardships and personal challenges this economic environment presents. A Norfolk Buyer representative states, “We buy houses in Chesapeake, VA and Virginia Beach.”
The physical condition of the home does not matter to Norfolk Buyer. Even if the loan is upside down, the knowledgeable professionals at Norfolk Buyer are skilled at working out a solution where everyone, especially the homeowner, wins. Selling a home as-is for a fast, fair cash offer with no fees or delay is an option lenders, traditional realtors, and discount brokers are typically unable to match.
Based in Norfolk, VA, Norfolk Buyer is a real estate solutions and investment firm that specializes in helping homeowners suffering financial hardship who are close to losing their home to foreclosure. The homebuyer gives advice and presents solutions that solve difficult problems for stressed homeowners who need to sell their houses fast. The Norfolk Buyer team is made up of investors and problem solvers who can buy houses fast with a fair, all-cash offer.
For more information about selling a home fast for cash, visit the Norfolk Buyer website at https://www.norfolkbuyer.com. Contact the office by phone at (757) 239-6817.