Move to a smaller, cleaner place in Montreal

Get a cash offer now!

Having Trouble Paying Your Mortgage During COVID_ What 2021 May Look Like For You

Having trouble making your monthly mortgage payments while we’re in the midst of a COVID-19 pandemic? An estimated 40,000 Canadian homeowners have qualified for a government or bank assistance program, but have failed to take full advantage of it and are already behind on their mortgage payments. In fact, one in ten homeowners has made at least one late payment this year. Every day, these people live in fear of being evicted or having their finances repossessed. In 2021, you could be part of the large group of homeowners who will take over the real estate market and try to sell quickly. However, you still have the option of selling to a professional real estate buyer before this situation arises. 

No time to lose

If you are among those who have suffered the consequences of the pandemic, whether financially or otherwise, and are having difficulty 
to meet your mortgage payments in times of COVID-19
in Montreal, the time has come to take matters into our own hands. By 2021, you could see your credit rating plummet, lose the capital you’ve invested in your property and be forced to move. If you don’t act quickly, you’ll receive letters from your lender that will allow, then prevent, certain actions being taken, and you’ll quickly lose control. As you compare your options, take the time to learn about the advantages of selling directly and quickly with a real estate professional. Dealing with a professional investor will help you avoid the nasty surprises caused by the inexperience of traditional market buyers, who all too often change their minds at the last minute. If you sell directly to a professional buyer, your sale will be guaranteed, and you’ll be 100% certain of the date on which the sale is completed. A sale of this kind will enable you to both avoid a possible resumption of financing and preserve your credit in good condition for the future. 

financial recovery, 60-day notice, exercise noticeInvesting before selling

If you’re having trouble meeting your mortgage payments in Montreal because of COVID-19 and you want to sell your home on the traditional market, you’ll have to spend thousands of dollars before you can advertise it for sale. Unless you own a brand-new home in perfect condition, you’ll need to do some renovations: first to fix any glaring problems, then to upgrade a few appliances, the heating or air-conditioning system, and so on. Some additional costs will apply as you make your home stand out from the crowd and be seen by a large number of people. Your real estate agent will certainly propose an interior design plan for which, once again, you’ll have to pay. In addition to covering all these costs, you’ll also need to subtract commissions and closing costs from the sale proceeds, if any. If you’re already struggling to get there every day, these extra payments may simply be impossible to meet. But don’t give up hope! You have the opportunity to make 2021 a much more pleasant year by selling to an experienced professional buyer. This will let you know exactly how much your home is worth as it is, and no additional costs will reduce this offer. 

Emotional distress

Although it’s easy to compile a list of the financial consequences of a financial recovery, it’s not so easy to establish the emotional burden involved, which is all the heavier in times of pandemic. Indeed, the coronavirus pandemic has brought about some rather disconcerting changes. If, at this particular time of year, we receive calls from the bank wanting to talk to us about financial recovery, the anxiety can be so great as to cause insomnia. Knowing that our home could be taken away from us often causes a great deal of grief. Whether you plan to do it alone or with the help of a real estate agent, advertising your home for sale on the traditional market will most likely cause additional stress. In fact, such a sales method provides no information as to when the sale will be concluded. In reality, you won’t have any guarantees. You won’t even know if you’ll be able to sell your house on the market! Added to the stress of uncertainty is that of intrusion: your daily life will be constantly interrupted by calls and visits, and you’ll always have to worry about the visual state in which you leave your home. Not to mention all those dashed hopes you might feel every time a visitor comes to your home and you pray that he’ll be the one to solve your problems and let you breathe a sigh of relief. These emotional burdens can also affect your interpersonal relationships. Whether we’re talking about your relationships with family members, friends or co-workers, the consequences of such discomfort can be catastrophic. If you’re having trouble keeping up with your mortgage payments in Montreal during a coronavirus pandemic, you may also want to sell now to a real estate purchasing professional. This way, you can avoid the sleepless nights and headaches you’d suffer if you sold in the traditional way. If you don’t act quickly, 2021 could bring not only financial disaster, but emotional exhaustion for you and everyone you care about.

Sell House fast, 60 days notice, financial recoveryHaving trouble meeting your mortgage payments because of COVID? If you don’t act quickly and decisively, you could lose your home in 2021. Fortunately, you don’t have to passively endure a financial upturn, go to great expense to sell, or impose a major concussion on your family. On the contrary! You can sell now to the Vendre Maison Vite team. To find out who we are and what we can do to help you, send us a message now or call 514-320-1000!

Testimonials