Michael’s Story: How Truehold helped him regain financial stability

The Truehold team talked to Michael, a Truehold resident in Oklahoma City, who used Truehold to get back on his feet after a sudden job loss.

Michael is a family man. He has a daughter who recently got engaged, his girlfriend has four adult children, and they’re proud grandparents to three grandchildren. Michael shares his house with several family members, two dogs, and two cats, and stays busy with work, ball games, and babysitting. 

A Sudden Change: Michael's Job Loss

Michael's life took a turn, however, when his company was acquired by another. Even though he’d been at the company for 14 years and was a well-trusted manager, he lost his job. His meager severance package was not enough to cover his expenses, so Michael had to rely on unemployment income, which was only a third of his previous salary. As his savings dried up, he fell behind on his debt payments. He needed a way to free up some cash. 

Searching for a Solution: Michael Finds Truehold

Michael knew his home equity held significant wealth that could support him during this financial emergency, but selling his house didn’t feel like an option: “I didn't want to have to uproot my girlfriend, my animals, her daughter, and my granddaughter.” Michael started looking into potential options. “I was in the mortgage business for 14 years, and so I've dealt with enough people to know when people are on the up-and-up.” Michael wanted to work with a reputable company that could meet his needs, and that's when he discovered Truehold.

“I'm a firm believer that your reputation makes a difference.” Michael found that Truehold had the best reputation among all the companies that he researched. He was impressed by their positive reviews and, “felt like Truehold was the best option for me to work with.”

Michael “got a good offer immediately, and they moved quickly through the process.” 

He appreciated the amount of “personalization and contact that I had with everyone at Truehold that I worked with. I got quick responses. I got responses that I knew personally were accurate. The knowledge base that I interacted with made the process much more comfortable for me.”

“I'm a firm believer that your reputation makes a difference.”

Michael's Financial Comeback 

Completing the process with Truehold has brought a sense of relief to Michael's life and given him the much-needed financial stability he was seeking. “Completing my process with Truehold allowed me to get caught up and clear up everything that I needed so that I could actually get back to work. It's definitely made things a lot easier.”

Back at work and filled with renewed confidence, Michael appreciates the peace of mind that his remaining equity provides. “Truehold helped put me in a position to be more prepared in the event that something did happen again.” 

Michael's story is an inspiring testament to how home equity can serve as a safety net in case of emergencies.  Truehold's sell and stay transaction played a pivotal role in helping Michael regain his financial security and regain his footing. If you're a homeowner looking to access your equity, Truehold could be for you. It can help you cash out what you've invested in your property while still allowing you to stay in your home as a renter and take some of the financial stress off your plate.

“Completing my process with Truehold allowed me to get caught up and clear up everything that I needed so that I could actually get back to work. It's definitely made things a lot easier.”

_{This story is based on an interview conducted between the customer and a member of the Truehold team. All quotes are from the customer, with some words cut for length and clarity. The customer may have received compensation for their time.}