The Covid 19 pandemic has affected most Countries badly, and the USA is no exception. Like most states, Texas is also affected and this includes the Dallas Fort Worth Metro area.
People who struggled before to make ends meet are now facing being in an even worse position. Due to the pandemic, this situation is affecting even more people and is impacting the ability of some to pay mortgages or rent. Avoiding foreclosure becomes a big thing.
But thankfully, the government is taking action to help families keep their homes so that thousands don’t become homeless over the coming months.
The Covid Pandemic Has Triggered
A Housing Affordability Crisis.
For example, one out of five renters or residential tenants is behind on rent because they don’t have money to pay. These tenants could face eviction.
Additionally, more than 10 million homeowners are behind their mortgage payments, potentially facing foreclosure proceedings & eviction proceedings. Avoiding foreclosure is the main focus of these homeowners.
If they don’t have enough income, they won’t be able to pay their mortgages. If they can’t pay the mortgages, the bank will not hesitate to foreclose and repossess the properties when allowed. That means those homeowners will also become homeless sooner or later.
Does That Mean Homeowners & Renters
Will Soon Have To Leave Their DFW/Texan Homes?
Not at the moment.
The Department of Veterans Affairs, the Department of Agriculture, and the Department of Housing and Urban Development came together to expand and extend foreclosure moratoriums and forbearance relief programs.
Although these programs would have been due to expire by March, the committees decided to extend them because of the current economic conditions of most families. Otherwise, it would have left many families at risk of falling into deeper debts, eventually losing their homes, and not being able to avoid foreclosure.
The new reforms state that homeowners will soon receive these benefits because of the unprecedented national emergency everyone is going through.
The Summary of the Foreclosure Moratorium
& Mortgage Payment Forbearance
Announcements Are As Follows:
• The extension for foreclosure moratorium for homeowners.
• They have extended mortgage payment forbearance facilities for those requesting forbearance.
• Provide six months of additional mortgage forbearance and three-month increments for those who entered forbearance before June 30, 2020.
Trying To Help Everyone In Need
During Covid 19 Times
The Department of Veterans Affairs, the Department of Agriculture, and the Department of Housing and Urban Development are ensuring that more families make the most of these facilities.
Quite recently, the Federal Housing Finance Agency also announced that it is ready to extend forbearance by as many as three months to those who are almost at the end of their forbearance period.
According to experts, this coordinated movement is likely to cover nearly 70% of single-family home mortgages, making it easier for homeowners to repay their money.
President Biden says he is doing everything to protect housing stability and homeownership in America as the country starts recovering its economy in the next few years.
He said that the cooperation of Congress is also crucial at the moment as it has the power to pass the American Rescue Plan that can deliver additional aid to the hard-hit homeowners.
The American Rescue Plan can create a Homeowners Assistance Fund that will provide different states with as much as $10 billion to help homeowners pay their mortgages and utility costs. Experts believe this relief is crucial for homeowners with mortgages in private markets.
Relief For American Homeowners Against
Covid 19 Forbearance, Foreclosure, and Eviction Moratoriums
– But For How Long? –
The relief announced by the core committees will benefit almost 2.7 million homeowners currently in Covid 19 forbearance.
Its extension in the availability of forbearance options for nearly 11 million government-backed mortgages will give homeowners some breathing space so that they don’t have to worry about losing their homes & avoiding foreclosure.
This relief program aims to assist both small and large communities.
This is another reason why the Department of Veterans Affairs, the Department of Agriculture, and the Department of Housing and Urban Development worked together to deliver urban, suburban, military, and rural homeowners with reverse mortgage facilities.
Foreclosure – What Are My Options?
Many people ask what’s the alternative if they can’t pay the mortgages even after making the most of these forbearance and eviction moratorium facilities.
Well, one option we as a company can offer is to sell their homes for cash, move to a rented place as a tenant, live with family, etc.
Cash House Buyers USA can provide a cash payment to those who want to sell their homes amidst the pandemic.
Plenty of families are struggling to make ends meet because of the loss of work. There is also the pressure of increased prices of groceries and utilities.
Financial experts are pointing out that those who already have homes are now looking at the option of quickly selling them for cash. This is because they need money to stay afloat as a family before getting into foreclosure.
CHB-USA – Could We Help You?
If Selling Your Home Quickly For Cash Would Help…
This Is What To Do – It’s Very Simple:
Just fill out this form & we will be in touch with a cash offer – no obligation – it is that simple!
[fancy-form id=”5″]
Centralized Resource For Housing Assistance
Sometimes, renters and homeowners can’t keep up with the news and changing reforms of the government (e.g., changes in hardship declaration, foreclosure proceedings, residential eviction & tenant law, executive order, etc.).
The government has now started a new housing page on the Consumer Finance website to provide updates on benefits that renters and homeowners will get. Such as protections, rental assistance, the financial hardship of property owners, renter relief options, and key deadlines.
The federal agencies are working hard to ensure that these programs help as many families as possible.
But the families that still can’t make the most of these relief programs can always turn to us for help. Cash House Buyers make home-selling a straightforward, hassle-free, and quick process.
Cash House Buyers USA
– What Exactly Do We Do? –
Are you looking to sell your Dallas-Fort Worth/Texas house to avoid foreclosure or eviction?
Even if the Covid-19 pandemic does not bring this about, there is pretty much a set routine that sellers go through.
In most cases, people must go through documentation and wait for the right buyer to sell their houses. This can often take months!
However, Cash House Buyers USA makes that process easier and faster by paying cash upfront for your TX property.
It doesn’t matter whether you are selling the property because of debt, lien issues, or the impact of Covid-19. We will provide the best cash price for your house, irrespective of the reason.
We believe in helping people get cash into their pockets quickly. A lot of our previous clients only have days to play with.
Cash House Buyers USA is the right place to be if you are ready to sell your property for cash.
We have a team of professionals providing the best customer service. The main goal of theirs is to make sure you have no confusion in your mind about the selling process.
[reviews]
Is Selling A House For Cash Safe To Do?
Yes – To The Right Company, It is!
Some people struggle with the idea of selling property for cash, especially if you sell something as precious as a house or home.
You should, however, remember that we are A+ rated company. The Better Business Bureau considers it safe to make cash transactions even if you sell a house.
Moreover, most people these days don’t want to wait months to find the right buyer. If they can get a cash offer that is acceptable for their situation, then there is no reason to go the long-winded ‘traditional’ sales route. You could be cash-rich and free of your house in less than a week!
Does this sound like something you could benefit from? Don’t burden yourself with debts anymore during this pandemic.
We can help you break free!
Have you missed payments, or are you not able to pay for daily expenses?
Do you have to borrow money frequently?
Maybe it is time to do something about it, avoiding foreclosure and selling your house for cash.
Please get in touch if you could benefit from selling a house quickly for cash. There is no obligation whatsoever!
Just fill in the form below or give us a ring.
You have nothing to lose!