Need Help Paying Your Mortgage In TN? Here's What To Do
Failing to pay your mortgage can have dire consequences. While you are unlikely to lose your home with one missed payment, you certainly will be forcing yourself into a financial hole and leaving you needing help paying mortgage in TN. The good thing is there are plenty of options to help you out with your mortgage payments. Here are a few options you have to help you out.
Options To Help You With Your Mortgage In Tennessee
1. Look Into The Tennessee Homeowner Assistance Fund
The first option you have if you need help paying mortgage in TN is the Tennessee Homeowner Assistance Fund. This is a program that was launched by the Tennessee Housing Development Agency that helps those who were hit hard during the pandemic. With this program, you can get up to $40,000 to help pay housing costs like current mortgage payments or late mortgage payments.
The thing about this fund is you have to experience a qualified financial setback after January 21, 2020. You must also currently live in the home and own it. And your annual household income must be less than $119,850. Of course, there are other guidelines, but you can get the application started on the Tennessee Housing Development Agency website.
2. Talk To Your Mortgage Lender
Another option to get you help paying mortgage in TN is to just talk to your mortgage lender. Your lender might offer financial plans that can help make paying your mortgage easier on you. Just know that when you call, you will have to explain your income and whether your problem will be a temporary or a permanent issue. You will also have to explain why you cannot make your payments.
3. Check Out The U.S. Department Of Housing And Urban Development
The third option you have is the U.S. Department of Housing and Urban Development to get help paying mortgage in TN. Through HUD you can find financial programs that can help you avoid foreclosure and handle your payments. You can also find financial counseling through HUD-approved agencies. This counseling can help you understand your mortgage and your finances better.
4. Look Into The Tennessee Hardest Hit Fund
The fourth option you have is the Tennessee Hardest Hit Fund to get you help paying mortgage in TN. This is a fund the state of Tennessee created with government funds to help those on the verge of losing their homes. This can include those who have received a pay decrease or even sudden unemployment and can no longer afford their mortgage.
5. Consider A Tennessee Title Loan
If you need help paying mortgage in TN, the last option you have is to get a Tennessee title loan. Auto title loans from Tennessee Title Loans, Inc. will require you to use your vehicle’s lien-free title as collateral for a lump sum of cash. With our title loans, you can qualify for anything between $300 and $2,500, but we base how much you get on your vehicle’s condition.
To get a Tennessee title loan from us, you need to fully own your vehicle outright. This means you are finished paying off the vehicle and your title is free of any liens or judgments. As we said, the amount of cash available will be based on the condition of your vehicle. Before we decide how much you qualify for, we will need to inspect your vehicle.
We will also need you to prove your income. Keep in mind it doesn't necessarily need to be in employment income. We may be able to consider other income like pensions or any unemployment benefits that you are receiving. Finally, you need a driver's license or state-issued photo ID.
To get started with the process you can either fill out the online form or give us a call. No matter which method you choose, one of our loan representatives will set up your vehicle inspection. You can either come to the nearest Tennessee title loan location or we can come to you.
Either way, both your vehicle and documents will be inspected by one of our knowledgeable loan representatives. If you get approved – which you will find out in a few minutes – we will go over the loan terms and help you finish the paperwork. Once you are done with the application, you are finished. You can get the money either the same day or the next business day.
Get Help Paying Your Mortgage Today
Need help paying mortgage in TN? The good news is any one of our options can help you out when you really need it. So if you find that you are about to pay your mortgage late or you’re already late, check out one of our options. And if you think a Tennessee title loan could help, get started by filling in our inquiry form today.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.