Dear community members:

I would like to take this opportunity to talk to those of you who are concerned with the property values in your cities and towns. Some of you are facing the real possibility of foreclosure. If I could tell you one thing, that would be, do not walk away unless it is the last option.

If you are still able to pay your mortgage, pay it; you borrowed someone else's savings and you have the obligation to pay it back.  Regardless of the value of the property you used that money to acquire, you have a responsibility to the people whose money you borrowed. If you honestly have a hardship because your income has changed drastically since you purchased the home and you truly can no longer afford it, call and write your loan servicer directly to get a work out program.  Beware of anyone charging you up front fees to do this for you.  If you do not qualify, and some of us will not qualify, consider selling the home to pay back some of what you borrowed - short sale.  You may not qualify to do that either.  If not, consider giving the keys back - deed in lieu of foreclosure.  If you do not qualify for that and the bank is going to foreclose, take care of the property until you absolutely have to move. Your loan servicer may also have other recommendations for you.

Lastly, before you make any decision to sell, or walk away from your real estate, get legal and tax advice from appropriate  professionals.  When you are buying or selling real estate, get advice from a REALTOR®.

Sincerely, Jeanette M. King, SFR, REALTOR®

Century 21 M&M and Associates

923 E. Pacheco Blvd. Ste. A Los Banos, CA 93635

Web Site: www.JeanetteKing.com

Email: Jeanette@JeanetteKing.com

Cell: (209) 829-9056

Office: (209) 829-7604

Alternate: (408) 489-6267

Fax: (209) 828-2586

License # 01766034

THE NUMBER 1 CENTURY 21 COMPANY IN THE NATION!!