If you live in Essex county NJ or are considering a move to this part of New Jersey then I am sure you have heard of Maplewood 
and South Orange 
These two towns are joined at the hip and great places to live for anyone looking to be 20 minutes from NYC and still enjoy the space of New Jersey living. As a Real Estate agent in the area I have noticed an increasing amount of short sales and pre-foreclosure homes. Many people who reside in these towns do not want to accept the fact that these towns are not immune to the declining market that has plagued most if not all of the U.S.A.
Many home owners are suffering from the difficulty to find a job, job loss and corporate downsizing; thus forcing them to scale back spending and in some cases consider selling and or renting to avoid foreclosure. Now for others these situations present a bigger problem as their homes do not have enough equity to allow a sale and these sellers at time have little to no reserve funds available to help get them out of their homes with all the fees that are associated with selling.
The solution for these home owners would likely be a Short Sale but many are not aware of their options. While some are aware but find themselves to embarrassed to admit help is needed. In this economy one is hard pressed not to know someone who is upside in their home or struggling to pay bills and upkeep life on the most basic of levels. So I want people in South Orange & Maplewood to understand that their options available and you don't have to simply give up your home to foreclosure.
I sat down with a home owner this past weekend and got into the discussion of selling and possibly selling short as his homes equity had evaporated and he was recently let go by his employer. I explained to him the options that are available to him and he said he could not pull himself to admit defeat and would rather ride the process out until it was all over. I tried to emphasize that there is life after a short sale but the foreclosure makes things that much harder. He told me at this point he was more concerned with saving face then saving credit...
this upset me deeply as I feel emotion has gotten the best of this home owner. I left him tons of information to review regarding his options and I hope he takes it and makes the best decision for himself and his family.
They say that a large percentage of home owners don't know their option or choose to exercise them; I want home owners in the communities that I service to know that I am personally dedicated to helping distressed home owners find a solution and get their lives back. Look a short sale is very challenging and unfortunately there is no 
button; but with hard work and dedication Real estate agents all over the USA are working with banks to get these to the closing table...don't walk away without knowing your options...
Some studies are showing that the housing market slump will continue past 2013 as it appears that we will have record highs in foreclosure filings this year. Remember you are not alone. Many agents and internet scammers are praying on unsuspecting home owners and trying to take advantage of them by encouraging the wrong activities in order to please investor clients. Remember if it doesn't feel right; it probably isnt...if you have questions or need advice on short sales or any other pre-foreclosure alternatives, please contact myself or my team today and we will be glad to help.
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