Is your home buyer financially stable?
And would you really know if they aren't? This is a tough time for so many people. Financially, we are all dealing with the skyrocketing gas prices and using our credit cards just got more expensive - thanks to the rising interest rates. Your home buyer is dealing with this and may also have other issues to contend with, and the reality is they may be too embarrassed or ashamed to deal with it until they are in over their heads with debt. Do they have medical bills? Health issues that prevent them from working? Rising childcare costs? A long commute to work? Are they a truck driver? These are just a few issues that can make paying their mortgage, insurance and property taxes challenging. Hopefully, if your home buyer is facing difficulty in paying monthly you can be compassionate and give them a grace period, tacking the missed payments to the end of their term. But if YOU can not afford to offer them that kind of deal, it may be best to sell the mortgage note or contract for d
