From the Brink Of Foreclosure To $15,397.22 In The Bank and A Fresh Start
For the Johnsons, they say "the nightmare all started around August 2018 when Carol got laid off from her job of 6 years and was unable to find (comparable) work in her field.
Although she did qualify for unemployment benefits, the amount she received was not enough to support their existing debt; which included: student loans, credit cards, dental bills, 2 auto loans, school tuition for their children, their mortgage. This is without mentioning their normal monthly expenses like utilities, cell phones, food and etc. Needless to say -- the former budget quickly became too much for their family to afford.
As a result the Johnsons rapidly began to spiral financially and by the time November came they had already missed their first mortgage payment -- hoping they could turn things around within the next 30 days.
Carol and Richard both say the worst part about going though this financial hardship was the adjustment that their children had to endure. "...the normal things they were used to getting -- we all of a sudden had to say no to and they were left wondering why" recalled Richard.
Through the holiday season Carol was still unable to find suitable work and the hardship followed them into 2019. On Friday January 11th they received a notice of default from their bank.
"Reading that letter made my heart sink to the soles of my feet. I was nauseous and literally had a panic attack. We didn't know what to do..."
Feeling the pressure from the bank (and knowing that time was running out) Ricky did an online search and found what he hoped would be a solution.
After thinking it over he knew the best thing to do would be to sell their home and pay off the loan and save their credit then find somewhere to rent while they stabilized their income/savings.
The problem was, they didn't have the money or time to repair/decorate their home, find a real estate agent, list it on the MLS and wait to see what happens after that. They needed the money now!
After seeing an advertisement on Facebook they made the call to Inland Empire Options For Homeowners who quickly got the ball rolling. We immediately paired them with with the resources necessary to sell their home 'AS-IS' in just 9 days.
Both Richard and Carol agree that the best part about the move was the fact that they were able to just pack up what they wanted to take and leave behind whatever they didn't. "They told us there was nothing that we had to clean up and that made the transition smooth and stress free" they said.
At the end of selling their home and paying back the mortgage loan, the Johnsons were able to deposit a check for $15,397.22 in their account and start over fresh.
"Once the transaction closed we felt a huge wave a relief come over us. It was as if the weight of this mounting debt was gone and we could just breathe again."
According to the couple one of the most significant benefits is the fact that neither one of them have a foreclosure on their credit (and since they'll get a boost from paying off their home) this will leave them plenty of open options in the future when they are ready to buy again.
The family says they are happy with the new home they've rented, their financial stability and their new outlook on the future.
If you or someone you know are are behind on payments, have received a notice of default or are already in foreclosure then contact us to explore your options. We offer complimentary assistance in both San Bernardino and Riverside counties and can provide financial assistance in as little as 3 days.
Click here to see all of the foreclosure prevention options for your San Bernardino County or Riverside County property or give us a call at (909) 323-1423 to explore the resources available to you.