Headlines about foreclosure and the growing problem cover newspapers both on a local and national level. What can you do if you are facing foreclosure, think foreclosure is in your future or are in the middle of the foreclosure process?
REALTORS can help with the problem. Depending on where you are in the foreclosure process, you may be able to sell your home and avoid foreclosure all together. A REALTOR can help you price your home for a faster sale and help stage your home to attract homebuyers. If you are behind on your payments, a REALTOR can work with your bank on a short sale.
If you think foreclosure is in your future or you are having trouble making your payments, talking to your lender is the biggest piece of advice I have for you. Making that call and admitting you have a problem can be tough, but most lenders will work with you to come up with a payment plan that you can afford. Lenders are in the lending business, not the real estate business.
The National Association of REALTORS has several informative brochures on foreclosure and predatory lending. The best way to avoid foreclosure is to get into the right kind of loan for your financial needs. Read through the attached brochures to inform yourself, and let me know if you have any questions or if I can help you with a foreclosure or pre-foreclosure situation.
How to Avoid Foreclosure and Keep Your Home
How to Avoid Predatory Lending
My motto is "Helping You Build the Sandcastle of Your Dreams!" Homeownership can help you build long-term wealth, but foreclosure can hurt your credit, your future and your community. If you need help, call me today and let's work together to find the best way out of a bad situation.
Plantation River Tours Murrells Inlet
15 years ago
1 comment:
I agree. We operate CurrentForeclosures.com, a foreclosures site and have seen a huge increase in the number of foreclosures in the past 4 months. I believe it is a combination of not only sub-prime and ARM mortgages, but also the high number of people who have gotten loans with interest rates at an all time low... in addition to the rapid depreciation in some areas and the difficulty some are experiencing in selling their homes. Hopefully more borrowers will begin talking to their banks and lenders to help them get out of the foreclosure mess-everyone benefits from avoiding foreclosure, the banks, the neighborhood, and especially the homeowners!
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