According to Realty Biz News, “Most imagine retirement as a time of boundless leisure time, month-long vacations, and worry-free days. But for many retirees in the time of COVID, this is not the reality retirees face. According to Clever’s new study, many have not been saving enough, putting them in dire straits during the pandemic. Instead of playing tourist, many of these retirees are taking on part-time jobs to cover retiree living expenses.
Already, we are seeing retirees struggling to pay for necessities such as their rent or mortgage. Those over 50 years of age are the fastest-growing segment of the homeless population. For at least half of these people, this is the first time in their life they have been homeless. This may mean their homelessness has resulted from little to no savings and bad luck: the result of a lost job, a serious illness, or the death of a spouse.
Half of retirees said they had to cut back on spending and expenses to retire. About a fourth of respondents said they fear outliving their retirement funds, and more than 40% worry about social security ceasing to exist. Foreclosure has to be a fear of retirees
Before initiating a foreclosure, the lender must serve a notice of default and the action recorded with the register of deeds. Not less than ten (10) days after the recording of the notice of default, the borrower must receive a copy, and others such as junior lien holders or those who have requested such notice.
Someplace in here, you would talk with your lender and work out a way to get some time to avoid foreclosure. Forbearance is one of the actions that you and the lender can take.
If that fails, a notice of foreclosure sale must be sent to the borrower and all interested parties 20 days before the sale date.
Nebraska now primarily operates as a title theory state where the property title remains in trust until payment in full occurs for the underlying loan. The primary statute under guiding foreclosures is called the Nebraska Trust Deeds Act. Foreclosure is a non-judicial remedy under this theory.
Contact Professionals – Any time there’s a threat of losing your house, your banker may be able to refinance the loan, or your creditors may be able to give you repayment options. Contact a credit counselor. Contact a bankruptcy attorney. You need to know your options so you can make informed decisions.
Contact a professional real estate investor. You may want to sell your home fast to get out of the problem or save your credit rating. Styl Properties, Inc. is here to help homeowners. As investors, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. We offer the simple truth about your home and how we can help you sell it fast.
As investors, we are in business to make a modest profit on any deal. However, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. We offer the simple truth about your home and how we can help you sell it fast.
Give us a ring. We would love to help you understand the process and to answer all of your questions. You can reach us at 402 999.0577.