Monday, April 30, 2007

Case of the Week 4/27/07

Client's Age: 67
County: Mason

Client's husband passed away several months ago, and her household income plummeted. Her monthly mortgage payment is more than her entire monthly income, but she has been making the payment with the life insurance benefit. The insurance has run out and she wanted to know what to do. We examined her finances, including her assets, debts, income, expenses, and explained that she could not afford to live in that house anymore since her mortgage balance was substantially higher than the home's fair market value and couldn't be effectively refinanced. We helped her get connected with affordable housing options and explained the foreclosure process.

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