Noel Melton
speaker
37 appearances
1 recordings
1 series
first heard May 2024
last heard May 2024
Noel Melton’s voice in public audio — every appearance, attributed to the second.
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Appearances
exploring a loan modification that may include extending the loan term or adjusting your interest rate or reducing your principal balance, or it could be exploring refinancing to lower your monthly payment or discussing forbearance and what that means and what that looks like as far as temporarily pausing your mortgage payment and how that impacts you later on.
Any of these options, it's really unique to the person, so they have to make sure that they're figuring out what works best for their family.
Of course.
People can definitely be reaching out to their mortgage lender.
We encourage and we see that often people aren't sure about talking to their lender.
And so that's where finding that counselor is really helpful because they can tell you what you don't know to ask.
They can explore potentially refinancing as that might lower their monthly payment.
They could also discuss possibly having a repayment plan available.
and talk with their counselor about structuring a payment plan to make up some missed mortgage payments for a certain period of time.
They can also talk through forbearance in temporarily pausing their mortgage payments or paying your mortgage payment at a lower rate.
But all of these different pieces and how they work out together is what is imperative for people to do because there's not one clear way for everyone across the board
Well, it really matters on what is going on in their particular situation.
Not everybody is meant to become a homeowner and that's okay.
We want to make sure that they have all the information, all the tools to be able to make the best decision for them, whether that's when you first choose to become a homeowner or not, or what the next step for you is, right?
So we're really trying to find the ways to build and then sustain that equity, that wealth.
within those families.
So be able to look at all the options on the table and feel like they have the information to make what's most sense for their family.
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