Owning real estate is the American dream for some. However, with problems such as the recent housing market crash, millions of real estate owners have found themselves in serious financial situations. While homeownership is considered to be “good debt,” owning real estate has its risks.
For anyone who has real estate and finds themselves struggling to pay their bills, they may look to foreclosure as a solution. This allows the lending bank to reclaim the property and sell it themselves. This process does not let the owner off for the original mortgage, however, and this often leads to bankruptcy.
This can be avoided. Prior to liquidating or foreclosing on your real estate, consider other debt you could eliminate to ease your financial burden. Be Free Financial can help you complete this evaluation that will allow you to keep your real estate and avoid foreclosure and bankruptcy. In order to do this you will either opt for a path of debt consolidation and debt settlement.
When you choose debt consolidation you will be able to take all of your current debts and combine them into one, convenient monthly payment. However, due to the fact that a debt consolidation requires the use of your home’s equity, it may not be a good idea for people who are already struggling with real estate debt.
The more popular option for this type of situation is debt settlement. This allows Be Free Financial to negotiate on your behalf, to reduce the amount of debt you have into a fraction of the original amount. This allows you to pay of the remaining debt in either a lump sum or installments and be able to afford the real estate you own.
This can be a difficult process, when real estate is involved. However, with the help of Be Free Financial you can find the freedom to maintain ownership of your properties while reducing the other debt that you have. This can be beneficial for you in several ways and ease the stress and burden that you experience each and every day.