How do I know when my mortgage is out of balance with my budget?

Q: How do I know when my mortgage is out of balance with my budget?

A: It doesn’t take much for your mortgage to exceed what your budget can conceivably handle. And it can happen quickly. An expensive car repair, an unexpected hospital visit, a missed week of work – just a few little things and the life you’ve worked so hard to build and it suddenly feels like the finances are tipping dangerously out of balance.

Once the scales turn against you, it becomes impossible to ever tip them back in your favor anytime in the near future — that’s how you know you can’t afford your mortgage.

Meaning:
1.) The cash reserves aren’t there to absorb the cost of the setback (medical bills, car repair, 6 months of unemployment);
2.) You take home less than what you spend and it will not be possible to shore that up in the next twelve months.

When your financial problems reach the point where they threaten your home, it is difficult to manage the stress. Sometimes it is even difficult to force yourself to seek help.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially-challenged homeowners with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

Choose to face the challenge with a professional on your side.

I can help you realign the balance in your financial life and tip the scales back in your favor. Call or email me and schedule your free, confidential consultation. We can work together to make sure you end up ahead.

Contact us for a confidential in person on phone consultation about a short sale here in Las Vegas.

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