Welcome Back Readers. Today we are touching on a timely topic for many. Foreclosure. Timely for many, as an article about it in today's paper was titled "Record number losing homes". Ouch. Record number.
The article cites 2010 Lancaster County Pa Foreclosure filings as setting a new record at 1,334. This is an increase over 2009 at 1,319. But who really expected differently? With the state of the economy, I look at those numbers and am surprised they aren't higher. That figure represents an increase of 1.21%.
That's the new record, up 1.21%. If all we are going to do is talk statistics, that is nothing, an anomaly, barely worth a mention in the history books. In the end, statistics, nameless, faceless statistics are what these numbers become when reported this way. And therin lies the problem.
The real problem with foreclosures isn't statistics, sure there are more this year than last year. Again, I ask who really expected differently? The problem is the people foreclosure affects. They aren't statistics, they're people.
We could go on and on about how nationwide, many foreclosures are the result of people making poor decisions, getting in over their heads, spending more money than they had to spend. Click that picture there, the one above, which by the way is courtesy of Jacob Ruff via Flickr. The one and only comment on that picture is by someone who said "..if you can not pay for the house, that you should not have bought in the first place, then RENT something you can afford a smaller place perhaps". The one and only comment is a reaction of anger, too bad for you, you should suck it up and deal with it!
I get that. Many folks are tired of bailing out others who maybe don't deserve to be bailed out. Did you know though, that according to research done this year, that in Pennsylvania the #1 and #2 reasons people end up in foreclosure are job loss and unexpected medical bills? Job loss and unexpected medical bills. Doesn't sound like people making bad decisions brought the increase in Lancaster County PA foreclosures, it sounds to me like they are unfortunate victims of chance.
Do unfortunate victims of chance deserve the scorn, the stigma, the reactions of embarrassment and anger hearing the word Foreclosure brings out in people. No, they don't. On the other hand, whether you end up facing foreclosure by chance or by poor decision making, you still have a problem on your hands. You have decisions to make. You have options to avoid foreclosure. Sitting there and doing nothing however is not an option.
I have helped many people, at many stages of this process and many times it's not fun. It's work. It's papers and forms. You will get endless letters from the bank and endless solicitations from the sharks circling, the ones who know you are in trouble and are looking to take advantage of you. It's hard to know what to do, its very confusing for most people. Thats OK though, there is help available.
You do have a chance. Your home and your credit can be saved. If you are behind on your mortgage payments, there is help available, short term loans to catch up those payments, if you qualify. You can stay in your house and avoid both foreclosure and selling. Interested in finding out what those options are? Call me at 717-371-0557, I will fill you in.
If you don't qualify for those programs, there are other solutions available to you, such as selling your home. Even if you owe more than your home is worth, there are options such as a Short Sale. You can sell your home for less than you owe and the lender will forgive (if you qualify) the rest of the debt and release you free and clear, if you qualify.
You might not like the thought of selling your home, but the words free and clear sure sound nice, don't they? No more collection calls from the mortgage company, no more certified letters, no more visits from deputies serving court papers.
Sooner or later, if you can't make the payments, the foreclosure will happen and you will be forced to move. Don't wait for the sheriff to evict you. Don't let foreclosure ruin your credit. You can take control and move on your terms, on your timeline. Want to find out how? Again, call me at 717-371-0557 and I will fill you in.
You have alot of options available to you. There will be alot of questions. You won't know what to do. Thats OK, its normal. It's a new situation for most folks. Call me, I will be happy to help you figure out how to navigate the troubled waters of foreclosure.
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