Avoid Foreclosure
If any of your clients are considering foreclosure, please tell them to consult their attorney about alternatives such as bankruptcy, short sale, deed in lieu of foreclosure, forebearance, refinance, loan modification, second job, leasing, etc. Copy and paste this link into your browser for more information from HUD.
http://portal.hud.gov/portal/page/portal/HUD/topics/avoiding_foreclosure
Marie - Good advise. Thanks for sharing an informative and helpful blog.
John
Thanks for the website link. The problem with some homeowners is they do not think very clearly. I placed an offer for 80% of the value of a property on a short sale. The homeowner told his agent that he was not signing an offer that low. Why did he care if the mortgage company approved the deal and allowed him to walk away without a foreclosure? I never understood as the property was sold at sheriff's sale many months later.
Cal
Marie, wonderful advice. I'm finding that the sellers are resistant to incurring attorney fees, but the consequences are so much more severe than a few hundred dollars spent on a good attorney.
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