Every week, I learn of another family who is in grave danger of losing their homes to the perils of foreclosure. For many reasons, homeowners are falling victim to foreclosure. Nationwide. Sadly, the foreclosure rates are at an all time high across the country. No state is immuned.

Just a few years ago, the country was boasting an enormous surge in new homeownership, representative of both young and old--All cultures---filled with diversity. Finally, it looked as if society had finally realized how to capture a piece of the "American Dream."  However, much to our dismay, times have changed and as a result We (Yes, I did say "We") are all suffering from the results.

As real estate professionals we all know how the effects of foreclosure can trickle down to all homeowners. Current homeowners may be affected via a decrease in value and appeal of their homes in high foreclosed neighborhoods. Vacant homes can, without a doubt, lead to theft and other forms of crime. To make matters worse, foreclosures are happening everywhere, in all price ranges, and maybe next door to you.

However, there is hope. Realtors can help. The primary way we can help is through proper client awareness and education. All prospective buyers that you serve should receive an initial orientation. That's right, an Orientation. This is especially true for new, first time home buyers. Real Estate agents can employ a number of resources to aid in this client education process. I personally educate my clients on many aspects of homeownership including other home expenses to consider when deciding on maximum cost a client is willing to spend on a home. This can include educating them on the current area's tax rate, the tax rate for the home(s) of interest, the average utility payments for the homes of interest, as well as the average maintenance expenses on the home to consider. I even know of some agents who specialize in "Green or Energy Efficiency" homes and home characteristics---all to help clients save money in the long run and maximize their results.  

Additionally, when I recommend lenders, I select from those who I know will further educate my clients on additional financial products and/or factors to consider when purchasing a home. For example, I had one lender introduce one of my clients to a loan product geared towards promoting energy efficient homes! Many lenders, as well as homeonwership programs (NACA, Nehemiah, ect.)  also offer First-Time buyer workshops to help educate clients on homeownership and ways to maintain and keep their home. These are great programs! Almost all of them are free and they provide a Win-Win-Win situation. The client wins because they are taught best homeowner practices, the lender wins because the program's success brings more aspiring homeowners into the program and the real estate agent wins because their client receives top notch service and education. And best of all, the homeowner has adjusted much better because they are better prepared for homeownership.

Now, I know that people face circumstances beyond their control such as a job loss, illness, divorce etc. However, I am aware of programs that can help them too. I stress this to every one of my clients --Before they purchase. So, just in case they experience a hardship, they know who to call. ME! 

As a Pre-Foreclosure Specialist, I can help assist them by getting the current lenders to work out a payment plan to get them on the right track or defer payments until a specified time. I can also negotitate a short sale agreement to sell the client's home at an agreed upon price so that the homeowner avoids foreclosure entirely and their debt with the bank is paid in full!  Is this a lot of work? YES! Does it require patience and time? Yes! However, the benefits of saving a client from foreclosure are more rewarding. And we, as real estate professionals can all help to decrease the foreclosure rate throughout the country and save another homeowner!