What If Mortgage Rates Are Up & You Can No Longer Afford Your Mortgage Payment?

In today’s uncertain times, we are hearing more and more from clients that they are struggling to make their payments due to high inflation and mortgage rates. At DCI Properties, we understand these challenges and are here to guide and support you through a variety of potential solutions. Here are a few viable options to consider before making a decision regarding what to do:


Explore Loan Modification Options: One potential solution to mitigate the impact of higher mortgage rates is to explore refinancing options. Refinancing involves replacing your current mortgage with a new one that has more favorable terms, such as a longer repayment period. By refinancing, you may be able to lower your monthly payments and make them more manageable within your budget.


You can also speak with your lender regarding the terms of your existing mortgage to make it more affordable. This could include extending the loan term, reducing the interest rate, or even temporarily suspending payments. While loan modification can offer relief, it’s essential to understand the potential impact on your credit score and long-term financial health.

Consider Selling Your Home: In some cases, selling your home may be the best option if you can no longer afford your mortgage payments and the homes upkeep. This can help you avoid foreclosure and alleviate the financial burden associated with homeownership. At DCI Properties, we specialize in purchasing homes as-is for cash, providing homeowners with a quick and hassle-free solution. Our team will work with you to assess your property’s value and make a fair cash offer, allowing you to move forward with peace of mind. You can sell to us in any condition which means there’s no clean-up or repairs required and you can focus on moving forward.
Give us a call today to find out what the fair cash offer is on your home. We can help.

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