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Mortgage Payment Relief for Columbus HomeownersMortgage servicers, who process monthly mortgage payments and handle the management of various home loans, are quickly creating programs for borrowers impacted by COVID-19. Uniform rules for such programs are being legislated, and will be rolled out soon.

In the meantime, it should be noted that most mortgage servicers already have solutions to offer distressed homeowners!

These programs are available to anyone with a qualifying hardship. Typically this includes a job loss, divorce, illness, injury or just about any other life event that happens beyond your control.

Below are some common mortgage remedies. Please note, each of these require a formal application and review process which may vary by mortgage servicer. There is no guarantee of approval. It is best to continue to make your scheduled mortgage payments, if possible, while seeking one of these solutions.

Deferment: a certain number of mortgage payments may be “skipped,” but they must be paid eventually. Deferred payments may be put at the end of the mortgage term, lengthening your payment schedule.

Forbearance: if you miss one or two payments, your lender may allow you to make them up gradually with a structured repayment plan.

Modification: if you qualify, your lender may reduce your interest rate, or extend the loan term, or both, to create a lower monthly payment.

During the review process, your mortgage servicer will ask for a financial disclosure, and may require you to supply bank statements and other supportive documentation. (This isn’t too different from a mortgage application process.)

This is only a brief overview. If you are experiencing a financial hardship, please contact your mortgage servicer for information about available options!

As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services www.BuyersHome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

Columbus home buying social distancingAs news about COVID-19 dominates the headlines, Columbus home buyers may feel uncertain about the future. Anyone who is experiencing a loss of employment or business disruption must understandably wait things out. But for buyers who have the wherewithal to stay in the market, it’s wise not to give in to fear. This too, shall pass!

Of course, precautions should be taken in the interests of public health and your own. A recent article in the Columbus Dispatch discussed the measures employed by real estate professionals to help protect clients. These include sanitizing high-touch areas and observing social distancing. Frankly, there are more health risks in grocery shopping these days than in buying a home!

Another option is to leverage technology. While buying a home without visiting it isn’t for everyone, buyers have been doing this for years, relying on photos, videos and listing data. We can supply you with a wealth of broker-level information about the homes that interest you, and even tour homes on your behalf!

When you are ready to submit an offer, our buyer-centric contract includes contingencies to protect your interests, such as home inspections and remedies for repair issues.

We care about our Buyer-Clients! We are observing all practical precautions in the daily course of our business. Our full services remain available during this time of social distancing.

As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services www.BuyersHome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

Central Ohio Home Sales Surge in February

March 27, 2020

Spring came early to the Central Ohio real estate market as buyers flocked to available homes. According to Columbus REALTORS®, home inventory in February 2020 fell 9.9% compared to the same month a year ago. Lean supply contributed to decisive buyer behavior and a record-setting level of February sales. Sales activity was 13.3% higher than […]

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Columbus Real Estate Market Tough for Home Buyers

March 3, 2020

Home buyers in the Columbus Metro face a difficult market in 2020. The situation is such that Columbus was recently named one of the “Hardest Cities to Buy a Home” by Realtor.com. The ranking compared the number of homes available for sale per every 1,000 households in the largest U.S. metros. We’ll cut to the […]

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Most Ohio Home Buyers Become Happy Homeowners

March 3, 2020

How common is buyer’s remorse in Ohio? According to a new nationwide survey of 5,672 home buyers, most Ohioans are pretty happy with their home purchase. Out of 50 states, Ohio ranks #18 on the “Home Happiness Index.” The Lawnstarter.com survey included 118 questions, boiling down to 7 main topics: Quality of the home Local […]

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Credit Score Changes May Affect Some Columbus Home Buyers

February 3, 2020

The most common credit scoring model in the country, FICO, will soon be changing how it calculates credit scores. This new change is predicted to affect over 8 million consumer credit scores, and not everyone will be happy with the results. Here’s what Columbus home buyers should know! A key element in the current FICO […]

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Columbus Area Home Demand to Stay Strong in 2020

January 22, 2020

The Columbus real estate market has been gaining steam for years, and this past year was no exception. As 2019 drew to a close, homes priced under $350,000 spent an average of just 30 days on market, according to November statistics from Columbus Realtors®. Homes priced from $350,000 to $500,000 spent an average of 63 […]

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Ohio Home Buyers Have Advantages in Winter Months

December 11, 2019

Buying a home may not be the first thing you think of in December or January. But for Central Ohio home buyers, these two winter months offer some of the best market conditions you’ll see all year! According to a study by ATTOM Data Solutions, buyers around the country have been facing higher home prices […]

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Ohio Home Inspector License Requirements Begin April 2020

December 11, 2019

It might surprise Columbus home buyers, but until recently, home inspectors were not required to hold a professional license in the State of Ohio. Virtually anyone could conduct business as a home inspector and follow their own interpretation of the job. This left home buyers vulnerable to bad actors in the trade, with practically no […]

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Home Sales Show Brisk Pace in Columbus Metro

November 18, 2019

Home buyer enthusiasm didn’t fade with the change of seasons, according to September sales data from Columbus REALTORS®. Favorable mortgage interest rates, along with positive economic conditions, have kept buyers motivated. Here’s a look at the numbers! On a year-over-year basis, the volume of Central Ohio home sales increased by 8.9% during September. Conversely, home […]

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