Foreclosure, is a dreadful word that many homeowners here in Georgia as well as the rest of the country are much too familiar with these days. It seems that people spend much more time looking for a place to lay blame than they do looking for solutions to help those unfortunate people who are losing everything that they worked for their whole life. It's so sad to go into one of these homes and see the remanences of the family who lived there not long ago.
No matter how hard I try to just do my job and not think about it, the thing that always pops into my mind is how happy they must have been on the day that they moved in; and how sad and disappointed they must have been when they moved out. The one thing that's most heart wrenching is, I always wonder if this could have been prevented, and knowing that in many cases it could have been.
While the family may not have been able to keep the home, in many cases they could have at least saved their credit rating as well as their pride.
In too many cases, when homeowners fall behind on payments, they become frustrated and embarrassed and just withdraw. They don't want to talk to the lender who holds the mortgage because the fear of being harassed and threatened if they don't pay up.
So Many homeowners end up just moving away without ever even trying to resolve the situation. It's not hard to understand why people react this way, in most cases the situation is not their fault and they feel victimized. But personally I just want to scream out to them, "DON'T DO THIS The bank doesn't want your house!! Lenders are in the business of lending money; they don't want to own real estate. the situation is not hopeless!"
If only they would talk to the lender and explain the situation that keeps them from making their payments. In many cases the lender is able to work with homeowners and work out a plan that allows them to stay in the home. If the lender is not able to help them there are other possible solutions.
Foreclosures are such a big part of markets now that most real estate agents, are working with investors who will buy the mortgage at a discount from the lender. This is called a "short sale" In some cases this is an ideal solution. The homeowner avoids a foreclosure on their credit record, the lender gets paid, and some homeowners even end up staying in the home paying rent to the investor. It's even possible for them to end up owning the home again, at a lower price than they paid in the beginning.
I'm writing this in hopes of getting the message out to someone who is facing this situation. My hope is maybe just maybe, someone will answer that call from the bank and explain the situation and ask the lender to work with them. Or call a local real estate agent and ask for help. Maybe they will talk to someone instead of just walking away and giving up the home that they have worked so hard for. There are so many possible solutions; there's too much at stake to walk away without a fight.
I sincerely hope someone is helped by this information. For more info contact me from my website at www.myezhomesell.com
Comments(0)