Jonah JacobsIf this common issue has affected your family, see what steps you should take to fix it before it’s too late.
Nobody wants to end up living on the streets, but that’s what can happen if you don’t pay your rent or mortgage on time. Although eviction moratoriums from the pandemic gave many families breathing room for remaining in their homes, most of those are now over. And with eviction or foreclosure staring many families in the face, taking action is the only cure.
What actions should you take if you feel like eviction or foreclosure is near? Have a look:
1. Talk with your landlord or lender.
The worst thing you can do after missing payments is to ignore your landlord or lender. They won’t lay off simply because you don’t address the issue, so before things get worse, give them a call.
Let the landlord or lender know why you cannot pay on time. More importantly, let them know what you’re doing to fix the issue, such as cutting costs, selling items for quick cash, looking for a new job, or getting a second job to supplement your income.
Taking such action should buy you some time to get your finances in order and keep eviction or foreclosure at bay. If it doesn’t, make the next move on this list.
2. Ask for help from friends or family.
Friends, family, or even your employer could float you some money to help you get caught up with your rent or mortgage. They could also offer an insurance policy and give you a place to stay should you be forced to move out.
If this is not an option, make the next move, which is using one of the following resources to get housing assistance.
3. Contact Places That Offer Housing Help
Several places offer temporary or long-term housing assistance. Since your mileage may vary with each, contact them all until you get the help you need.
The U.S. Department of Housing and Urban Development (HUD)
Are you tired of spending most of your income on rent? Do you feel as if your current lease isn’t manageable due to your tight budget? Can you no longer afford your mortgage? Then contact your local Public Housing Agency so they can use one of the HUD’s popular programs to help.
For example, Section 8 can give you a housing voucher that pays most of your rent while letting you pick where you live. And if you’re paying a mortgage, the HUD may offer loan modification, refinancing, or forbearance.
Charities And Nonprofit Organizations
There are plenty of organizations out there that offer housing help along with food assistance, clothing, and more. Here are some that have offered rent and mortgage payment assistance in the past:
You can also call 211 to see if the local operator can connect you to any housing assistance programs in your area.
Mark Luigi Dacumos
