Need Help Paying Your Mortgage? Try This!
Every month, you have to make sure your finances are able to cover your expenses and bills. One such bill you have to make sure you keep up with is your mortgage. If you need help paying mortgage payments then you must get financial help as soon as you can – which is actually not as difficult as you may think for homeowners in South Carolina.
Three Ways You Can Get Help Paying Mortgage Payments
If you find yourself needing help paying mortgage payments, you have to check out these three options available to any homeowner in South Carolina. These options show that, whether you are already late with your mortgage or on the verge of being late – you can get the help you need if your budget does not allow you to cover your mortgage this month.
1. The SC Housing COVID-19 Mortgage Relief Assistance
When it comes to needing help paying mortgage costs, the first option you have is the SC Housing COVID-19 Mortgage Relief Assistance. This relief assistance is from the Federal Housing Administration (FHA) through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This assistance is for homeowners who:
- Have lost their job or had their hours significantly reduced;
- Are ill or unable to work due to caring for a family member affected by COVID-19.
It is set up to help those FHA-insured homeowners that were affected by the Coronavirus. This assistance allows you to either pay smaller installments of your mortgage payments or put off your payments for a certain period of time – which is usually three months, where they will then examine your situation and discuss what the best course of action is for you.
2. The South Carolina Homeowner Rescue Program
The second option you have, if you need help paying mortgage payments, is the South Carolina Homeowner Rescue Program (SC HRP). This is a federally funded program that was established to provide financial assistance to homeowners that are experiencing pandemic-related financial hardship beginning before January 21, 2020. This program covers things like:
- Mortgage payments;
- Mortgage reinstatements;
- Delinquent property taxes;
- Delinquent utilities;
- Government or nonprofit down payment assistance loans.
There are certain qualifications to become eligible. You must be a South Carolina resident who owns and occupies an eligible property. An eligible property means it is located in South Carolina, is your primary residence, and is one to four units – specifically a single-family home that is either detached or attached, a condominium, or a mobile or manufactured home.
You also have to have experienced a financial hardship associated with COVID-19 that began or continued after January 21, 2020. And when it comes to your income, your household income must equal to or be less than 150% of your area median income or $79,900 per year. And the last qualification is you have not received the same help from another federal, state, or local source.
3. A Fast Title Loan From Carolina Title Loans, Inc.
Luckily, when you need help paying mortgage payments, there may be options out there if you need help covering your mortgage payments for a month or two. Here at Carolina Title Loans, Inc., we may be able to offer a fast title loan of between $601 and $15,000 when you use your vehicle’s lien-free title as collateral.
We determine how much you could get based on the condition of your vehicle. This means we will need to inspect your vehicle to determine its condition and resale value when we meet in person. The good thing is you can continue to drive your vehicle while you make the repayments on your loan. We will keep hold of your vehicle's title, though.
The process for obtaining a title loan can take as little as 30 minutes to complete when you meet with us. And if you are approved, you could have the money on the same day, ensuring that you can pay off your mortgage sooner as opposed to later. If you wish to obtain a fast title loan, then you will need the following:
- State-issued photo ID or driver's license.
- A lien-free title to your vehicle.
- Your vehicle for inspection (so we can determine how much we can lend you)
Once you have these items, you can fill out the online form. We will then give you a call to confirm your information and set up an appointment for us to meet. This meeting can either be at the nearest South Carolina title loan location or we can come to you instead. We will inspect your vehicle and assess your information.
If we decide you qualify for approval, we will go over the loan terms and help you finish the paperwork. Once you are done, you can get your money that same day or the next bank business day. Keep in mind that we have no income requirements, which means a title loan could be an option if you are currently claiming benefits or unemployed. And you can qualify if you have bad credit.
Avoid A Missed Mortgage Payment Today
Mortgages are expensive. With many living paycheck to paycheck, it is not uncommon to need a bit of help paying the mortgage from time to time. This is especially true since you also have to keep up with regular expenses as well. If you do need help, check out one of these three options. And if you think a fast title loan could especially help, fill out the online form to get started.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.