Getting laid off is harsh, but getting laid off after age 50 challenges a family’s ability to keep their home.
This couple was referred to me by a co-worker (who has done close to 10 loans with me over the last 18 years) because they were eyeball deep in debt.
He was laid off 18 months ago, and could only find temporary work.
Her employer is leaving CA, and their 2nd mortgage was about to jump from $300 to $1000 per month.
Perfect storm, lack of control, and job uncertainty = STRESS STRESS STRESS…
Sharing her anxiety with her co-worker, Beth was encouraged (pushed ;)) to call me for a solution.
Because of the heavy debt load, their credit scores were low; but the good news is that I was able to find them a solution…
I was able to find a loan that allowed them to combine the 2 mortgages they have, eliminate $60,000 in debt to qualify, and save $2200 per month ($5500 per month down to $3200)!
Clearing the slate financially will allow them time to think clearly and breathe easier than when they were just constantly juggling debt payments.
Most of all, they now can take time to find the right job for the next chapter in their working life instead of just jumping at any job opportunity to “just get by”.