Someone just called and told me that they had enlisted the assistance of one of the advertisers on televsion to get foreclosure assistance.  (I cringed, sorry.) 

Well, $4,000 later, money they could not afford to spend or they would have made the payments on their home, they are facing a sheriff's sale.  The up side is that we may still be able to save them from complete disaster.  But, they are now facing even more loss.  And, they basically "gave away" $4,000 to someone who could not or would not help them save the home. 

Not saying these were con artists, but it sure smells of it.  When you or someone you knows trusts the advertisers to deliver, do you have complete confidence that even though they don't operate in your state or, even if they do, do they have your best interests at heart?  Or, do you think they might want to prolong the agony for more money per month to perform on your behalf?  Hmmmm....

Desparation takes many forms, and embarrassment to contact someone in your community takes some intestinal fortitude.  However, those of us who work in your community have a far greater stake in your well-being and doing the right thing than someone out of state who cares little, if at all, about your property or you!  I know that if I do the right thing by you, you will refer your relatives and friends.  Being in this community means a lot to me.  And, I want my friends, colleagues and relatives to know they can trust me to do the right thing.  I work at it every day. 

When you have a problem, right from the start, get the best advice you can whether from legal counsel, an accountant or a trusted realtor.  I'm here if you just need an ear.  And, I have many trusted advisors to refer you to, should you need them. 

 
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4 Comments on Facing Foreclosure? Beware of the Media Help!

JUL
12
340,108 Points 19 Featured Posts Outside Blog

I am hearing more and more stories like this these days. As long as there are people in a bad situation out there, there will be people who prey on them.

3:20pm • #1
195,335 Points 19 Featured Posts Localism Sponsor Outside Blog Hit Router

How about someone who doesn't even seek help?

This lady called me after seeng me in an episode of HGTV's My House is Worth What. She remembered meeting me while she was working with another realtor who eventually found a house she decided to buy.

She said she's in trouble with her mortgage. I told her we may be able to get a loan modification. Or do a short sale. But I needed to know where she is at that point.

But by that time it was too late. She said when she could no longer afford to make the payments on a house (negative amortization), and thinking she's lost the house after missing 2 payments, she moved out. Never even asked her realtor. Didn't go back to the house to check the mail. Missed the Notices of Default,  and the Trustee Sale.

How could anyone NOT even try? She had cashed in her 401K, lost her entire $100K down payment. Wrecked her credit.

 

 

6:57pm • #2

JL  - thanks for stopping by.  I feel for this poor couple, but what can you do?  If you read Pacita's comment, it makes for even more shuddering feelings.

Pacita - we need to get the word out that it's not the end of the world when you can't make the payments, in most cases.  But, you need intelligent and experienced people on your side to negotiate on your behalf.  If you duck under a rock, the rock will kill you.  Plain and simple.  Thanks for your insight. 

7:51pm • #3
JUL
13
170,765 Points 10 Featured Posts Localism Sponsor

Hi Suzanne, it makes me so mad that the vultures circle over the weak and helpless. However,your post is so true, people may feel helpless, but with the help of trusted local advisors, there may be a way to help them.  I recently had the same experience as Pacita, the homeowner just walked away, they thought it way too late to be helped- that's so sad.

10:37pm • #4

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Suzanne McLaughlin

Albertville, MN

More about me…

Sabinske & Associates, Inc.

Address: 1449 Janett Av NE, St. Michael, MN, 55376

Office Phone: (763) 350-7960

Cell Phone: (612) 202-0215

Email Me

Buyer's representative, but I represent many sellers as well. I work with banks, some local, some national who use me to market their properties. I have done evictions and gotten the homeowner on the back side! Love this business. I make customers friends for life!


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