The emotional toll on a homeowner facing foreclosure is overwhelming...

In Spokane we have an alarming amount of foreclosures entering the housing market.  I have compiled some research highlighting the Financial and Emotional State of Homeowners Facing Foreclosure.  If you are facing foreclosure...please call me.  I would be honored to talk with you and help you find the resources you need most.  I have access to credit reports and repair companies, short sale liquidation strategies and many other tools that will help you make the best decision you can.  Here is some local stats that illuminate the crisis we are facing... 

􀂃 Homeowners fail to contact their lender because they are embarrassed, don't believe the lender can help, and/or believe it would cause them to lose their home more quickly. - Freddie Mac/Roper poll of 2,031 U.S. homeowners, conducted 2005.

If home foreclosure were likely for you, what best describes how you would feel?

38% Scared

35% Depressed

9% Angry

8% Embarrassed

9% None of these - Harris Interactive poll of 1,334 U.S. homeowners, conducted October 5-7, 2005.

Many homeowners already are at the financial edge: o 43% of American households spend more than they earn each year. - Homeownership Preservation Foundation data of 60,000 homeowners

52% of employees live paycheck to paycheck. - The MetLife Study of Employee Benefit Trends: Findings from the 2003 National Survey of Employers and Employees, November 2003.

Nearly 42% of all American households do not have enough in liquid financial assets to support themselves for at least three months.  46% of American households have less than $5,000 in liquid assets, including IRAs.- Asena Caner and Edward N. Wolff, "Asset Poverty in the United States: Its Persistence in an Expansionary Economy," Levy Economics Institute of Bard College, 2004.