Wealth Academy Podcast - Episode #71- Do You Know The Signs That Signal You Can No Longer Afford Your Mortgage

During this episode Coach Vann provides some knowledge pertaining
to signals that let them know they can no longer afford their
mortgage. Case in point in 2008 during the great recession,
millions of people lost their home because they lost their source
of being able to pay for it...their jobs.


Likewise in 2020 and 2021 people have a similar life challenge
and it's of losing their homes to mortgage foreclosures because
of the pandemic because their jobs are shuttered due to health
concerns. Coach Vann provides the following knowledge to help you
on your journey during this pandemic as it pertains to your
mortgage.


Signs that you can no longer afford your mortgage:
You're jobless and your income has dropped significantlyYou can
no longer afford to pay your mortgageYour debt-to-income ratio has
shiftedYou're having a hard time covering your utilities and
homeowners association feesYou can't afford emergency repairsYour
savings and emergency funds are depleted

Steps you can take going forward:
Contact your lender to see if they can work our terms,
refinance your mortgageContact HUD for counselingDownsize your
propertyLease out a room in your houseGet a roommateSell your house

When one's finances aren't properly aligned, never is the rest of
their life. Bleak financial standing causes poor health and it's
the exact reason why a financial coach is a good option.
Financial recovery is imminent and may take a longer period of
time than most people want to spend, however, a good financial
coach can assist people in reaching their goals. 


Host - Paul Lawrence Vann


Email - info@paulvannspeaks.com


Phone - (800) 341-6719