MaryAnn’s Story: How Truehold helped her stay in her home despite rising mortgage payments

The Challenge

Like many others navigating the evolving housing market, MaryAnn found herself grappling with escalating costs. Truehold’s recent survey of 2,5000 American homeowners highlight this growing trend: 56% of Millennials and 53% of Gen Zers say they cannot or are struggling to afford their home due to inflation and rising costs and are looking to cash out equity.

After diligently managing her mortgage for years, MaryAnn was confronted with an unexpected increase in her monthly payments, which soared from $540 to over $900. Determined to keep her home, she took decisive action, and started the process of refinancing with the bank.

The prospect of losing her house - her haven of 14 years - was scary. MaryAnn admits, "I wouldn’t have anywhere to go. Especially working from home, I would’ve been so screwed."

Facing the Storm

It was then that she found Truehold.

Truehold’s team offered a fresh perspective through a sale-leaseback. MaryAnn could sell her home and stay in it as a renter, using her equity to pay her rent and other expenses. This approach provided MaryAnn with the financial breathing room she needed.

MaryAnn credits the support and guidance of the Truehold team for their part in her success. "It was super easy. The lady that I was working with ... was so helpful to get me through at all.”

“She was so helpful to get me through at all.”

The Security of Renting

MaryAnn is aware that her situation isn't unique—many homeowners are struggling with increased payments: "I’m sure I’m not the only one they’re doing this to." Today, she enjoys a newfound sense of stability and is committed to renting as a more manageable and predictable housing option than homeownership. When asked if she would recommend Truehold, she responds emphatically: "100%, especially if they're facing challenges with their bank. Because you all take care of the taxes, all of that.”

Truehold played a pivotal role in MaryAnn's journey to regain her financial stability: “You all saved me from losing my house,” she says. But it's MaryAnn's proactive approach and resilience that truly shine through. Her story serves as a beacon of hope and encouragement to others facing similar financial challenges. At Truehold, we are committed to working alongside you, providing tailored financial solutions to help you rise above housing challenges.

“You all saved me from losing my house.” 

_{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.}