Ideas that could help you pay your mortgage

In cool springs TN Realty, it’s no doubt that paying mortgage payments is a really task job due to the shaky economic situation. More and more people are losing their jobs, while those who still have jobs have low wages, just not enough to pay all the financial obligations including mortgage payments.

 The mortgage payment is often the largest non-discretionary expense in a family's budget and it can take some creative juggling to ensure that it gets paid every month. I want to help every person who’s struggling coping up with their mortgage payments, so I came up with these 3 ideas that could help them pay mortgage payments less difficult.

3 ideas:

1. Extra room, extra money.

-        One thing you can do is to have an extra room in your home for rent. Having that rent for room means additional income and you can use that for paying your monthly mortgage payment. But remember, having a renter means having extra responsibility. You have to make sure that you are ready for being a landlord before you let any renter live in your home. Also, every state and municipality has its own rules and regulations for rental properties so be sure that you study the rules of your state.

-        When you have your extra room rented out, expect extra noise and extra people who are coming or going inside the home. These are the reasons why renting out a portion of your home is not for everyone, but if you can do it, it is really a useful way to help with the mortgage payment.

2. Storage space fees for mortgage fees.

-   If you are one of those people who really don’t want other people in their homes, you can still make money by renting out extra storage space. Nowadays, there are many people who are in need of storage facilities and spaces. Some look for a space to store their cars, small boats, furniture, boxes of stuffs and many others. If you think you have an extra space which can provide safety for the mentioned things above, you could make hundreds of dollars every month just renting it out.

- One thing to remember when renting out a storage space is the insurance provider and a special policy rider to cover the rental space.

3. There’s money in your kitchen.

- Do you know that a more hands-on way to pay your mortgage is through your kitchen? Yes. If you and any family member likes baking and cooking, you might want to try taking orders for cakes, cupcakes, pies and other foods. With the internet today, taking orders is made so easy.  And with regards to delivering orders, you can have customers pick up the goodies at your house or you can set up a table at your local farmer's market, or if you want a direct contact with your customers, you can personally deliver their orders to their homes.

The Bottom Line

In real estate, relying only on your employee salary will not make everything easy for you especially if you have mortgage responsibilities. It is really ideal that you have something that generates income for you such as the ones I have listed above. Doing them will help you keep up with your mortgage payments.