Prospecting letters to struggling homeowners who have lost income due to COVID-19
Thanks to the extra $300 per week in unemployment benefits, some at the lower end of the income scale have been receiving more money than they did while working full time.
However, in states where that has ended or is ending soon, those unemployed homeowners may soon be struggling.
High-end homeowners will probably make it through this relatively unhurt.
Homeowners in the middle have been struggling from COVID job losses since the shut-downs began.
If your take-home pay was $1,500 or more per week and you’re now receiving $900 from unemployment insurance, finances can get tight in a hurry – especially if you have car payments, credit card balances, and a family to feed.
Many skilled workers are finding themselves in this position.
Some struggling homeowners who lost employment due to COVID-19 will fare well with regard to their home mortgages because their loans are held by Fannie Mae or Freddie Mac.
They can get COVID-related forbearance for up to 360 days with missed payments deferred until they sell or refinance.
However, if their incomes have been reduced, they may not be in a position to pick up where they left off.
Others are finding themselves liable to repay 3 to 6 months of missed payments along with the first “post-forbearance” payment.
Note that several of these letters do mention forbearance.
Each of these letters in this set of 5 prospecting letters to struggling homeowners is an offer to help by finding a buyer for the house.
The letters stress the fact that there is a shortage of inventory now, so prices remain up. However, if a number of homes are either listed at the end of forbearance or go into foreclosure, home prices will likely drop. In that case, it could be wise to sell now, “ahead of the crowd.”
Get your letters now, and reach out to those who need to sell as a result of the pandemic. How much? Only $39.
On a good news note, one letter does mention other reasons why homeowners might want to sell right now.
- The COVID stay-at-home orders may have made them realize that they need or want a different house!
- Depending upon when they purchased their current house, they may qualify for a much lower interest rate on a new home.
- If their job has changed so they’ll now be working from home permanently, they’re free to move to a less expensive neighborhood – farther from the workplace.
Some COVID-19 shut-downs are ending, others are being reinstated, and no one knows how long the effects may linger…
Many small businesses were not able to survive months without income, and have shut their doors for good – leaving their employees jobless. Several large companies are closing stores. Others are relocating.
We hope that other businesses will open to fill the void, but that could take some time.