Recently, the National Association of Relators (NAR) has put together some really helpful information for homeowners who may be experiencing difficulties during this unusual time in all of our lives. For your convenience, we have made these materials available in this post. Please note, while the materials note that a “Realtor” can help, just replace the word “Realtor” with “Khani & Auerbach”. We are here for you and can help guide you.
Keep in mind, if you are presented with documents from your lender, pause before you sign. We highly recommend that you have a real estate attorney review those documents for you to ensure that you understand what you are signing. There have been some cases where lenders have prepared docs for borrowers that completely create a new mortgage. This has been happening with some lenders and has caused a number of problems for homeowners, especially those wishing to sell their homes.
- Protect Your Investment helps homeowners who are struggling to meet their loan obligations due to COVID-19. The guide offers advice about working with trusted professionals like REALTORS® and housing counselors at HUD-approved agencies. The guide also provides information about payment options offered by lenders and tips for avoiding scams.
- Protect Your Credit explains the provisions implemented by the Coronavirus Aid, Relief, and Economic Security (CARES) Act to protect consumers’ credit scores. The guide outlines consumers’ rights under the CARES Act, explains how to obtain a free credit report, and offers guidance on how to dispute inaccurate credit information.
If you have been keeping your eye on the rates, you may have also noticed that the rates are ridiculously low. If you are currently in a property that has equity and you need the funds, now is a great time to refinance your property and take out that equity for immediate use or save for a rainy day.
At Khani & Auerbach, we are here to help you through these difficult times and will always be here for you.