Did you know that 1 out of 10 homeowners are facing foreclosure? This may be your next door neighbor, your co-worker, your bowling buddy, the person you sit next to in church every week, it may even be you.
Even sadder, 7 out of 10 will go through the process alone. That is, they will have given up and will let whatever happens happens.
They don’t know that their credit score will drop almost 350.
They don’t know that a foreclosure will stay on their credit for 10 years, and I have heard recently indefinitely.
As renters, a larger deposit may be required.
Any future home or car loans will only be obtained by larger interest rate, which means larger payments for a smaller home.
They don’t realize that a foreclosure could jeopardize their employment - present and future.
They think that once they have been foreclosed on that they can move on without any other repercussions only to have a deficiency judgment(s) show up sometimes years later.
This is disheartening because there are so many other (less damaging) options available other than letting the home go through foreclosure.
Signs to look out for:
* Discord in the home; more arguing
* Piles of unopened mail.
* Someone has lost their job or hours have decreased.
* There was a temporary or on-going illness which has lead to loss of income because they can't work or they have to stay home and take care of the person with the illness.
* An overwhelming amount of medical bills.
* When you are at their home, the phone rings constantly and they do not acknowledge it.
* They start spending money more liberally all of a sudden (no longer making mortgage payments).
* They may flat out tell you "the bank is taking my house".
* Out of the blue moved, just left the home.
* Depression, hopeless outlook on life.
* Isolated.
There are other signs of a homeowner in distress but these are the most common.
Things you can do to help:
* Be there; listen to what they are saying and most importantly what they are not saying.
* People who are going through this are embarrassed and feel ashamed; being sensitive to that and encouraging them can help them get through another day.
* Let them know that they are not alone. This economic crisis has touched more people than the great depression. There are no income or status limits. No one is exempt.
* Let them know they can recover from this with the right help.
* If something seems too good to be true it usually is. Don't be afraid to check or have them check into companies or individuals who claim to have the “get out of jail free” card. They tend to leave people in worse situations.
* Don’t judge, like I said earlier they are already beating themselves up, whether they got themselves in the situation by not being wise or life just happened to them. They are drowning; throw them a rope and not an anvil.
* Don’t encourage finger pointing; “that bank did this...and if the bank would have…” You will put them in a mindset that the bank is the enemy. The bank can be the very one who could release them from this situation if handled correctly.
* Time is of the essence, once they miss their first mortgage payment (or think they will) the clock towards foreclosure starts ticking. They must take action now!
* Direct them to an expert. An accountant and tax adviser is also good to have on hand during these times. Someone who has skills in helping homeowners in distressed situations. There are Realtor's who have successfully navigated homeowners out of these situations. These Realtor's are trained and know how to strategically market and sell a home and know how to negotiate an outcome that everyone can live with.
Natalia Hals | Keller Williams Premier Realty | 612.801.9886
490 Nebraska, St Paul, MN
Impecable Rambler with tons of updates/very clean!
4BR/1.5BA Single Family House
offered at $139,900
Year Built
1963
Sq Footage
1,800
Bedrooms
4
Bathrooms
1 full, 1 partial
Floors
1
Parking
2 Car garage
Lot Size
0.12 acres
HOA/Maint
$0 per month
DESCRIPTION
Traditional rambler with tons of updates/very clean! Hardwood floors, newer appliances, newer roof. New Family Room and bedroom in the lower level. Hardwood floors throughout the main floor. Home is nestled in a mature quiet neighborhood. This is a must see!
Natalia Hals | Keller Williams Premier Realty | 612.801.9886
1606 Western Ave N, St Paul, MN
Need a One-Story home? Take a look at this long and lean 5 bedroom home with beautiful new updates!
5BR/1BA Single Family House
offered at $164,900
Year Built
1956
Sq Footage
1,303
Bedrooms
5
Bathrooms
1 full, 0 partial
Floors
1
Parking
2 Car garage
Lot Size
.22 acres
HOA/Maint
$0 per month
DESCRIPTION
Great Short Sale Opportunity! Most of the works been done, new roof & central air, kitchen & bathroom remodeled w/quartz and granite tile. Double lot that is being freshly cultivated. Great for first timers or investor.
Natalia Hals | Keller Williams Premier Realty | 612.801.9886
670 Kingfisher Lane # K, Woodbury, MN
Over sized master w/walk in California closet. All appliances stay, main floor laundry, great location. Near Tamarack Village and bus lines. Easy acce
2BR/1.5BA Townhouse
offered at $134,900
Year Built
1999
Sq Footage
1,300
Bedrooms
2
Bathrooms
1 full, 1 partial
Floors
2
Parking
1 Car garage
Lot Size
Unspecified
HOA/Maint
$125 per month
DESCRIPTION
Over sized master w/walk in California closet. All appliances stay, main floor laundry, great location. Near Tamarack Village and bus lines. Easy access to 494. Needs some TLC. Waiting for your TLC. Great for investment property, first timers, or downsizers.
Natalia Hals | Keller Williams Premier Realty | 612.801.9886
Nebraska, St Paul, MN
Impecable Rambler with tons of updates/very clean!
4BR/1.5BA Single Family House
offered at $149,900
Year Built
1963
Sq Footage
1,800
Bedrooms
4
Bathrooms
1 full, 1 partial
Floors
1
Parking
2 Car garage
Lot Size
0.12 acres
HOA/Maint
$0 per month
DESCRIPTION
Traditional rambler with tons of updates/very clean! Hardwood floors, newer appliances, newer roof. New Family Room and bedroom in the lower level. Hardwood floors throughout the main floor. Home is nestled in a mature quiet neighborhood. This is a must see!
Natalia Hals | Keller Williams Premier Realty | 612.801.9886
Western Ave N, St Paul, MN
Need a One-Story home? Take a look at this long and lean 5 bedroom home with beautiful new updates!
5BR/1BA Single Family House
offered at $164,900
Year Built
1956
Sq Footage
1,303
Bedrooms
5
Bathrooms
1 full, 0 partial
Floors
1
Parking
2 Car garage
Lot Size
.22 acres
HOA/Maint
$0 per month
DESCRIPTION
Great Short Sale Opportunity! Most of the works been done, new roof & central air, kitchen & bathroom remodeled w/quartz and granite tile. Double lot that is being freshly cultivated. Great for first timers or investor.
Natalia Hals | Keller Williams Premier Realty | 612.801.9886
11265, Woodbury, MN
Surround Yourself with Quality in this traditional 2 story home with modern comfort. This 4 bedroom, 3 bath home is packed with the ultimate in qualit
4BR/2.5BA Single Family House
offered at $498,000
Year Built
2003
Sq Footage
3,096
Bedrooms
4
Bathrooms
2 full, 1 partial
Floors
2
Parking
2 Car garage
Lot Size
Unspecified
HOA/Maint
$99 per month
DESCRIPTION
This spectacular former Parade of Homes model is filled with the highest upgrades and quality.
This home is ideal to host your family and friends in this wonderful executive home with a floor plan that allows the rooms to flow together.
2-way gas fireplace with Chilton Stone. Built in entertainment ctr and shelves. Built in window seat.
Hand made glass lamps that compliment the gorgeous tile back-splash in the stunning gourmet kitchen. On the other side of this formal dining room is a screened in porch that overlooks a 3 fountain pond.
This beautiful artistically designed kitchen boasts maple hardwood floors, stainless steel appliance, maple cabinets with Sile stone surface.
4 Bedrooms on one level, including a Bonus Room , which can be used as a guest suite, entertainment room or playroom.
Award winning Private Master with Separate Jacuzzi Tub & gorgeous glass block shower.
The sky is the limit when you finish the large walk-out basement (Potential 1,265 square footage) .The bathroom has been roughed in with a state of the art steam room to help you unwind from the day!
Seller will consider all serious offers. Quick/Flexible closing Available.
see additional photos below
PROPERTY FEATURES
Central A/C
Fireplace
Walk-in closet
Hardwood floor
Tile floor
Living room
Bonus/Rec room
Office/Den
Dining room
Dishwasher
Refrigerator
Stove/Oven
Microwave
Granite countertop
Stainless steel appliances
Basement
Washer
Dryer
Laundry area - inside
Balcony, Deck, or Patio
Yard
Swimming pool
Jacuzzi/Whirlpool
Sauna
COMMUNITY FEATURES
Guest parking
Business center
Clubhouse
Fitness center
Swimming pool(s)
Sauna/Spa
Tennis court(s)
Playground
OTHER SPECIAL FEATURES
Built-ins galore!
Discreet surround sound
Award winning Private Master with Separate Jacuzzi Tub & gorgeous glass block shower.
Natalia Hals | Keller Williams Premier Realty | 612.801.9886
11265, Woodbury, MN
Surround Yourself with Quality in this traditional 2 story home with modern comfort. This 4 bedroom, 3 bath home is packed with the ultimate in qualit
4BR/2.5BA Single Family House
offered at $498,000
Year Built
2003
Sq Footage
3,096
Bedrooms
4
Bathrooms
2 full, 1 partial
Floors
2
Parking
2 Car garage
Lot Size
Unspecified
HOA/Maint
$99 per month
DESCRIPTION
This spectacular former Parade of Homes model is filled with the highest upgrades and quality.
This home is ideal to host your family and friends in this wonderful executive home with a floor plan that allows the rooms to flow together.
2-way gas fireplace with Chilton Stone. Built in entertainment ctr and shelves. Built in window seat.
Hand made glass lamps that compliment the gorgeous tile back-splash in the stunning gourmet kitchen. On the other side of this formal dining room is a screened in porch that overlooks a 3 fountain pond.
This beautiful artistically designed kitchen boasts maple hardwood floors, stainless steel appliance, maple cabinets with Sile stone surface.
4 Bedrooms on one level, including a Bonus Room , which can be used as a guest suite, entertainment room or playroom.
Award winning Private Master with Separate Jacuzzi Tub & gorgeous glass block shower.
The sky is the limit when you finish the large walk-out basement (Potential 1,265 square footage) .The bathroom has been roughed in with a state of the art steam room to help you unwind from the day!
Seller will consider all serious offers. Quick/Flexible closing Available.
see additional photos below
PROPERTY FEATURES
Central A/C
Fireplace
Walk-in closet
Hardwood floor
Tile floor
Living room
Bonus/Rec room
Office/Den
Dining room
Dishwasher
Refrigerator
Stove/Oven
Microwave
Granite countertop
Stainless steel appliances
Basement
Washer
Dryer
Laundry area - inside
Balcony, Deck, or Patio
Yard
Swimming pool
Jacuzzi/Whirlpool
Sauna
COMMUNITY FEATURES
Guest parking
Business center
Clubhouse
Fitness center
Swimming pool(s)
Sauna/Spa
Tennis court(s)
Playground
OTHER SPECIAL FEATURES
Built-ins galore!
Discreet surround sound
Award winning Private Master with Separate Jacuzzi Tub & gorgeous glass block shower.
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