Anthony and Teresa L. have lived in their Somerset County, NJ home for over two decades. It’s where they built a life together and watched their children grow up. “We bought this house when our daughter was 2 years old,” said Anthony. “Now, she’s 25. We treasure the memories in this house.”
During the COVID-19 pandemic, however, a series of challenges threatened their homeownership. Medical bills from his wife’s surgery and Anthony’s job loss led to financial insecurity. Despite his efforts to stabilize their finances and request a mortgage modification from the private equity firm that had purchased their mortgage, the process was prolonged and ultimately unproductive.
“We went back and forth with the firm for two years about a modification that would allow us to make up for our missed payments and get back on track,” said Anthony. “At the end of the two years, they told us they didn’t have a program that would allow us to do that.”
For another year and a half, they tried to work with the private equity firm to find other solutions to save their home. In the meantime, what they owed on the mortgage continued accumulating. Eventually, the firm initiated a legal process to push the home to a short sale, adding to Anthony and Teresa's stress and uncertainty. “People started calling out of the blue to offer cash for the house,” recalled Anthony. “We had to keep telling them that we weren’t selling anything.”
Determined to keep their home, Anthony searched online for solutions and discovered BlueHub SUN. The SUN team provided unwavering support, guiding Anthony through the qualification process and ultimately refinancing their loan into a 30-year fixed-rate mortgage.
