Debt is the American Homeowners Struggle

Debt is the American Homeowners Struggle


Whether it is being underwater on your home (where your mortgage is more than the current market price of the home) where the

Real Estate that is underwater creates debt

A good sign for a successful short sale

payments are no longer manageable or the credit card debt that you have come to rely on has become out of control, American homeowners continue to struggle significantly with their significant debt level.  Most can not bring this debt down to get back on any payment track.  This debt struggle for homeowners is impacting all of RI real estate as it is in many other areas of the country.


If your bank is participating with the National Mortgage Settlement Act of 2012 there may be some hope in your mortgage relief.


However, most RI homeowners who come to me for help with their financial struggling mortgage situation find their banks are not willing to do anything for them on the mortgage rate or reduction of mortgage principal.   It does come down to considering a short sale many times.  Please do not allow your home to go into foreclosure.  The bank has a right to come after you years hence in this state for the monies they have lost from you on the mortgage balance when you go into foreclosure.


There is plenty to be said about living below ones means today but sometimes situations change whether it is financial loss, death of a partner, divorce, medical issues, etc.   A short sale of a home is the better alternative than a foreclosure for sure.   The debt level has usually reached a level of great difficulty to handle mentally and emotionally for most homeowners.


There is help with credit counselors (NEVER pay for credit counseling) by reaching out to the National Federation of Credit Counseling to see how they can help you get control of the outstanding debt you have.  Always a good first start.


Also, reach out to the North Kingstown short sale agents for help on your home mortgage situation if you are underwater on your home and are having difficulty paying your mortgage.


Understand what a short sale is, how to prepare your needed documents for the bank and to understand the benefits in doing a short sale.  Do call me, Ginny Lacey Gorman, at 401.529.7849 to discuss your options and to set up a meeting regarding your home financial situation if you are struggling financially.  I work with a legal team to help clients through this process successfully.

If you have real estate out of my geographic area, I will recom

mend a short sale coordinator for you to contact to work with.  Do  not let your debt ruin your future…address it and learn how you can move on in your life.  Debt is the American Homeowners Struggle.


 Ginny Lacey Gorman is your go to RI Real Estate agent for real estate in North Kingstown RI and beyond…knowing the geographic area, schools, happenings, important tidbits of information and businesses well.

 As a North Kingstown short sale agent, if you are having trouble paying your mortgage contact Ginny to help you through the short sale process successfully.

   Waterfront, oceanfront, luxury and coastal RI real estate are my specialty but all of RI is my backyard.   When you are in need of a good professional for your buying and selling needs and an internet savvy marketer and agent who sells RI houses in this real estate market – call Ginny at 401.529.7849.