The Best Tips for Financially Distressed Homeowners Janet Petrozelle (336) 239-4107 janet@oakleafproperties.com
By Janet Petrozelle
D
ue to the ever increasing cost of living, job losses and interest rates, the amount of homeowners finding themselves in financial distress just keeps on rising by the year. This in turn is causing so many property owners having to face much unwanted financial distress. In all honesty, the best thing you could possibly do for your situation if you are financially distressed is to take action, as it can’t be surprising to hear that staying in a financially distressed situation is just a disastrous choice to make. So today, here at JAM properties, we will be discussing the best tips to find yourself in such an undesirable position. 1. ASSESS AND COMMUNICATE The first thing you should do is to assess exactly where you are financially and whether or not you are in the financial position to be able to continue on with your monthly bond repayments. If you aren’t, the next step for you to take is to contact your bank ASAP and communicate with them, letting them know what is going on. This is because if you default on a bond repayment, this could lead to some dire consequences such as a
104 | MAY 2022