Deny, Deny.....until you’re foreclosed.... A tale of a foreclosure in Alameda CA
The amount of foreclosures in Howard County, Maryland has increased and there are many more still pending.
Foreclosure is not pretty in any way. Many homeowners suffer in silence rather than reaching out for help.
A short sale is a far better option than a foreclosure.
Deny, Deny.....until you’re foreclosed....
The founder of ForeclosureRadar.com, Sean O’Toole wrote about Foreclosures and the Five Stages of Grief.
- Denial
- Anger
- Bargaining
- Depression
- Acceptance
What immediately came to mind is the fate of my former clients in who were seemingly on their way up in the world. Everything was falling into place. They were moving up from San Leandro CA, and bought a bigger place in Alameda CA for their growing family.
Early last year, as I was checking the list of property owners who were on record as having received a Notice of Default, I saw familiar address: theirs.
So I called and asked them how I may help.
The wife said she’s working on getting loan modification. So at least she was on top of things. DENIAL
I checked in with her from time to time and see how things were progressing. She always said things were fine, that they were getting their loan modified. But was it a permanent, or temporary modification? She didn’t know.
It appeared as though she was successful because the property trustee sale was postponed.
A few months later, I checked again, and it was back on pre-foreclosure. So I called and ask if they considered doing a short sale instead. She said absolutely not! She was adamant: “No short sale!” ANGER
She was continuing to work on the loan modification. But wasn’t it denied? Yes it was, but she’s going to try again. BARGAINING.
Towards the end of the year, I found that they were served a Notice of Trustee Sale. I tried to reach them to see if there was anything I can do for them at this point. But I didn’t get through to them. DEPRESSION.
This week. A new bank-owned property listing came on the market. I saw a familiar address: theirs.
Please, folks...
There is another way than just giving up.
At least give us a chance to lay out your options.
We’re here to help.
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