LAS VEGAS (KLAS) — As the housing market continues to draw people to the Valley, others are struggling to pay their mortgages.
A lender says it’s a common concern, but there is help out there for those who need it.
Jorge Gamboa said he couldn’t stop smiling after becoming an owner earlier this year. However, the mortgage on her two-bedroom home near Decatur and Oakey quickly became difficult to meet.
“Everything started getting so expensive and I started falling behind on all the expenses. We are just trying to catch up,” Gamboa said.
PIF Lending’s Andrew Leavitt told 8 News Now that Gamboa is not alone in the fight.
“The Care Act has many provisions in place. You can be six months late or even 18 months late, you don’t want to wait that long. You want to call as soon as you’re 30 days late,” Leavitt said.
He also added that some homeowners are refinancing their homes to lower their payments or looking to extend their 30-year loan to lower their mortgage.
“You’re not going to lose the house. There are so many things the Care Act has in place on federally backed mortgages that are going to keep this homeowner because we don’t want 2008 to repeat itself,” he told 8 News. Now.
In the case of Gamboa, who is a few hundred dollars behind, he says that’s enough to raise a red flag and ask for any help available to continue keeping his dream home.
“It was hard to get and I spent all my savings. I will try so hard, I will fight to keep my place, said Gamboa.
Leavitt says if you’re having trouble with your mortgage, ask for help.
According to him, the first step can be difficult and sometimes embarrassing, but resources are available.