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Mortgage Solutions for Distressed Delaware and Pennsylvania Homeowners

Wednesday, March 25, 2020
by Katina Geralis

If you are worried about making the mortgage payment on your Delaware or Pennsylvania home, take heart: your mortgage company wants to help you. There are solutions available for homeowners who have a temporary loss of income or other hardship. Here's how it works!  

In order to find the best solution, your mortgage company will ask you for a financial statement of your income, monthly expenses and debts. You may be asked for copies of recent bank statements, and your credit report may be pulled. You may be asked to include a written explanation of your hardship. 

This is very similar to the mortgage application process, so please do not be intimidated by their questions. Also, your mortgage company needs to keep your info current as the review process continues. They may repeatedly ask for updated documentation. Reply promptly! 

Typical solutions include:

  • Deferment or Forbearance
  • Repayment Plan 
  • Modification 

Deferment and forbearance programs basically allow you stop making mortgage payments for a period of time, without risk of foreclosure action, late fees or other penalties. 

A repayment plan allows you to catch up any missed or deferred payment(s), without penalties, over a period of time. 

A modification is a permanent change to your mortgage terms. It may involve your interest rate, amortization period, or both, in order to lower your payment. In some cases, payments deferred or missed during a hardship can be "rolled in" to a modification, giving you a fresh start.  

This is a very brief overview. Your mortgage company can give you more information about the programs available to you, and explain the requirements! 

As your Delaware and Pennsylvania real estate experts, the Kat Geralis Home Team is happy to help you with your real estate questions! Contact us today!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

 

How to Go Green in Your Pennsylvania or Delaware Home

Thursday, March 12, 2020
by Katina Geralis

With spring nearly here, what better time is there to "green" your Delaware or Pennsylvania home than now? It's actually easier than you think to turn your home into an eco paradise and you probably have all you need already on hand!

Make it a weekend project or go room by room this week to spring clean and spring green the property. What's more, when you're ready to sell your Delaware or Pennsylvania home, buyers will notice that your home is already up to "green" standards or on it's way— which is a major plus!

Detox the Bedroom
An easy way to "green" your bedroom is to detox all of the linens and especially the curtains. You may wash your sheets and bed linens often, but how about your pillows? Cleaning your pillows will help keep toxins and dust mites at bay. You can also keep mold away in the bedroom by opening your curtains and shades and letting the sun take care of any extra moisture. Go the extra step by letting the sun shine on your bed linens for the same effect.

Reduce VOCs
There may be a few non eco-friendly products in your home in Delaware or Pennsylvania— for instance, cleaning products, paint and chemicals. An easy way to clear out the bad is to toss the cleaning products that contain chemicals like formaldehyde and purchase "green" cleaning products. Look for products and paint that do not include VOCs in their contents. Always check labels to make sure you're not purchasing harmful products.

Eco-Lighting
Switch your light bulbs to CFL, eco-efficient bulbs. According to Bright Nest, "CFL is an acronym for 'compact fluorescent lights,' and they function as an alternative to incandescent bulbs." These bulbs do not lose energy to heat and consume less power.

Recycle!
Come up with an easy recycling plan for your home. If you don't already have them, purchase containers that will hold your paper, glass, plastics and place them in easy to reach places. You may even want to visit your local recycling center to find out what you can and cannot recycle in your area. After that, post instructions near your home recycling center so you can gather all of the right products in the right bins.

As your Delaware and Pennsylvania real estate experts, the Kat Geralis Home Team is happy to help you prepare your home for sale.

Contact us today with any questions you may have about our local real estate market!

We look forward to hearing from you!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

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