This week I had two people call me who are behind on their mortgage payments and want to refinance. If you're already behind, a refinance is too late. You have to act quicker than that. Here's the tip. If inflation and rising costs have made the mortgage payment hard to carry, you can sell the home to a family member and keep living in it. Your family member does not need money for the down payment: you give them a gift of equity, and that equity becomes their down payment. You can also give them a seller credit to cover their closing costs. In essence, they take on the mortgage on their own without needing a down payment. It's called a foreclosure bailout, and there are specific things we need to do up front when structuring the loan. All hope is not lost, but you need to act quickly. Hit us up. We're here to help you anytime at True Blue Lending. Jesse Gonzalez | True Blue Lending Corporation NMLS #278103 | Company NMLS #2380218 Phone: 707-583-3666 Web: truebluelending.net
