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3 Simple Actions For Struggling With Mortgage Payments

3 Simple Actions For Struggling With Mortgage Payments

Buying a house is one of biggest steps you take in your life. The reason the step is so large is that it usually involves getting into more debt than you have ever had. Not only that but you are signing papers promising to make monthly payments for the next 30 years. That can be a nerve-wracking realization.

30 years is an incredibly long time, and a lot can happen in that period. Jobs can be lost, spouses can pass away, weather can destroy homes. These are just a few of the unfortunate events that may take place in a person’s life.

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Most of these usually result in financial stress after the initial disaster, and nothing is more stressful than a hefty mortgage payment that eats up more than half of all the money you bring in.

This situation is not uncommon and there is no shame in it. There are many resources and steps that can be made for people stuck in this awful scenario. Here are three actions that can be taken.

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Mortgage modification

Many people have never heard of mortgage modifications and do not even know they are an option. They simply stop paying their mortgages and eventually are forcibly removed from the home. This is not the way to go. Most banks lose a significant amount of money on a foreclosure. This means they are often willing to help work through temporary issues if they feel it will be cheaper for them in the long run. You can contact your mortgage company and they can start helping you revise the terms of your mortgage.

There is a lot of leeway in these modifications. Typically they will do something like extending the life of the loan, which requires lower monthly payments from you. This can be a little more expensive in the long run but is much better than losing a home.

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Home loan balance transfer

This option is a little more well-known but can be more complicated than a mortgage modification. A home loan balance transfer involves shopping around for another bank that can essentially offer you a better deal.

Perhaps in the time since you purchased your home interest rates have gone down. This means that another bank may be willing to pay off your loan, meaning your debt will belong to them. Because the interest rate is lower, you will be getting a better deal and paying less each month. If the interest rate is significantly lower, as it has been for the past few years, this option can save a significant amount of money. You can read more about home loan balance transfers here.

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Forbearance

The last option involves getting the government to help out. This often means a lot of paperwork, but it can also be extremely helpful if you get approved. Forbearance involves getting approved to skip your payments for a certain amount of time. Usually, you need to have a life event that qualifies you for this. A death in the family or a lost job may qualify you for this program.

In conclusion, It is important to seek all avenues when in trouble. Do not ignore the issue until it is too late. Pursue every option, and typically at least one will work out. You will be able to keep your home, and years down the road you will be extremely glad you acted as you did. Remember, there’s no reason to feel ashamed because people get in this situation every day and life happens to everybody at some point. What really matters is how you respond to life’s biggest trials.

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Spencer Mecham

Personal Finance Coach, Digital Marketer

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Last Updated on February 11, 2021

Want to Get Free Product Samples Like Bloggers and Beauty Gurus Do? Read This.

Want to Get Free Product Samples Like Bloggers and Beauty Gurus Do? Read This.

Imagine receiving a regular supply of free samples through your letterbox?

These free samples by mail could include things such as cleaning products, cosmetics and packaged food.

Free samples are a great way to try out some of the latest products. One week you may have a new toothpaste to try – the next week you may be snacking on a delicious chocolate cookie sample.

As the saying goes, variety is the spice of life. And by requesting free samples by mail (I’ll show you how shortly), you’ll have not just variety – but fun too!

Tell Me More About Getting Free Samples Sent to My Door!

So, it looks like I’ve caught your interest. That’s great news!

Just before I introduce you to 10 places where you can get free samples by mail, let me clarify a couple of things.

Firstly, all the places I’ll talk about are currently active in sending out free samples to consumers. (In other words, no links to out-of-date or dead pages!)

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Secondly, location is key. If you live in North America, then you’ll have a wide selection of places to sign up to. In other locations (for example, Africa, Asia and Europe), you’ll have fewer choices – but free samples by mail are still a possibility.

Lastly, to whet your appetite for the freebies, here’s a short list of product examples:

  • Pet food.
  • Beauty products.
  • T-shirts.
  • Greeting cards.
  • Wallets.
  • Snack bars.
  • Vitamins.

Free Samples by Mail… Tell Me Where to Get Them!

It’s now time to share my recommendations for the best sites to claim free samples from.

Let’s start with…

#1 SampleSource

    This company sends out boxes of 6-12 free samples about four times a year. Products include baby wipes, cereals and tissues. Register with SampleSource to be notified of the availability of their free samples. (Canada and U.S. only.)

    #2 Influenster

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      As their name suggests, Influenster wants to send free samples to you in exchange for you sharing about the products on your social media accounts. Once you’ve become a member (join for free!), they’ll send you a box of free goodies every few months. The more you share pictures and reviews of the products – the more free samples they’ll send you! (All major territories.)

      #3 PINCHme

        This organization will send you free samples in the hope that you’ll then go out and buy the equivalent full-size products. To receive regular boxes of free food, drink and cosmetic samples (and sometimes coupons), then sign up and create your profile. (U.S. only.)

        #4 House Party

          Thinking of throwing a house party? If yes, then be sure to sign up with this company. They’ll send you a box of ‘themed’ products and services that you can hand out at your party. Register with House Party. Wait for the fun freebies to be mailed to you. And then start sending out your party invites! (Worldwide.)

          #5 YoFreeSamples

            This site is a great resource for a whole host of free samples that can be mailed directly to your door (with no survey requirements!). You’ll find anything from books to perfume, with new offers listed daily. Head over to their site to see what’s currently available. (Mostly U.S., with occasional offers for other countries.)

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            #6 Magic Freebies

              The U.K.’s most popular freebie site. Register for their email newsletter, and they’ll send you a daily email with eight free sample offers. These include products such as disposable razors, dog bowls, and even fake tan! So, what are you waiting for? (U.K. only.)

              #7 SweetFreeStuff

                Since 2002, this simple site has been linking to the best free sample offers currently available. To get started, sign up to their daily email newsletter, which contains links to the latest offers. As well as free samples, SweetFreeStuff also gives information on coupons and deals. (Worldwide.)

                #8 Sample A Day

                  Would you like to receive a notification of a new free sample every day? Well, that’s the promise from this site. They claim to thoroughly research all offers, ensuring there are no catches or hidden surveys! From baby products to socks, this site is sure to have something for you. Registration is super-easy. Simply enter your email address. (Australia, Canada, U.K. and U.S. only.)

                  #9 Pretty Thrifty

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                    This site specializes in free beauty products, but also lets you claim free samples such as energy drinks, snack bars, and even magazine subscriptions. Pretty Thrifty has more than 85,000 followers on social media, so clearly knows how to attract free sample hunters. One thing that makes Pretty Thrifty stand out from most of their competitors, is that their email newsletter is available in daily, weekly and monthly formats. (Mostly U.S., with occasional offers for other countries.)

                    #10 CrazyFree

                      My final tip for getting the best free samples by mail, is Australian company CrazyFree. Their funky website offers big brand free sample offers, which currently include items such as Dolce & Gabbana perfume, Coke Zero, and Happy Dog pet food. To claim the offers, select the free samples you would like, and then complete their registration form. (Australia, U.K. and U.S. only.)

                      Receiving regular free samples by mail is a fabulous way of testing out the latest products on the market (and some that aren’t even on the market yet!)

                      You’ll impress your friends and family with all the free stuff you’ll be receiving. And take it from me… it’s a fun, free and rewarding hobby.

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