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"Do Nothing" .... now is that an option?

Yes - Do nothing is an option but it is not a recommendation. You may find it odd that "do nothing" is called an option. One of the most common options taken by homeowners is Nothing. Don't fall into the trap of thinking that everything will be magically OK, because it will not.

If you find yourself in the pre-foreclosure process you are likely confused by all the options and fearful of making a bad decision, but by doing nothing you are making a decision. The decision you are making by doing nothing is the decision to turn a blind eye to reality while losing your home.

So if even you can't safe your home, do something instead of doing nothing to help possible safe your credit from going totally down the drain.

Take your head out of the sand and eliminate the option of "do nothing" from your plan. Step up and and speak up and make a decision that will help you and your family and possibly either safe your home or saverage your credit as best you can.

Confused? Call and agent that knows about the pre-foreclosure process.

Need a Short Sale Specialist?

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Need information on the foreclosure process?

Give us a call today! 866-750-8282

For a FREE MARKET EVALUATION of your home Call us or visit http://www.motheranddaughterrealty.com/

Check out: Real Estate Terms/Definitions. And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Perfect Financial Solutions and we also focus in Short Sales and the Pre-Foreclosure process. Our consultations are free. Our aggressive marketing plan includes on-line listing advertising. If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call. If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

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Rosemary Brooks

Patrick Williams & Associates

the Mother and Daughter Realty Team

PH: 866-543-0461

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WEBSITE: www.motheranddaughterrealtyteam.com

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Posted by Rosemary Brooks -Mother & Daughter (866)-543-0461 on 02/23/2008 11:43 PM

Comments (9)

short sale, foreclosure, preforeclosure, stockton, san joaquin central valley, rosemary brooks

Originally posted at: Mother & Daughter Blog: "Do Nothing" .... now is that an option?

This post has been included in California Information San Joaquin County, CA Information

9 Comments on "Do Nothing" .... now is that an option?

FEB

2008

i agree one of the hardest but most rewarding is the DO factor, doing nothing is like waiting around to hit the lottery its a nice fantasy, and who knows maybe you will hit it but the reality its a one in a million shot

David ~ so true a 1 in a million.

Is it because of lack of Knowledge. Fear of embarrassment or just not caring; that so many choose this "option"?

Anthony ~ I believe it is fear first.

MAR

2008

I am always amazed at how many use the "Do Nothing" option until about a month before auction and it really doesn't give me much time to help them.

Todd ~ I think that is the "common" behavior.

MAR

2008

Hey Rosemary,

Yes, the "do nothing" option is the most popular one on the market sad to say...

Unfortunately, I don't think that doing a short sale vs not doing a short sale will make a significant difference in your credit rating because the loan will have to go at least 3 months past due to close a short sale. With 120 days late on a mortgage, the credit rating is destroyed.

With so many lenders foreclosing now, it will likely become a "forgivable offense" after one year since so many people are going through foreclosure. The policy of Chase Bank is to allow a foreclosure if it is one year old.

APR

2008

Rosemary: Jason is correct about the credit. It shouldn't even be a consideration in my opinion because after time and/or work you can improve your credit rating. But where you or your family will rest your head and place your belongings is URGENT and IMPORTANT. I think most people feel the one 'bad' decision or misplacement of trust places all their future choices in question. That's why they don't/can't move.

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