Dear Connecticut Homeowners,
In today's blog I would like to discuss foreclosures. This is not my favorite word or subject but it must be stated and be available to you just in case you fall into this situation or know of a loved one that does. You must be pro-active and stay ahead of the foreclosure process. I viewed a segment today on ABC's Good Morning America and I wanted to share the highlights with you including a link to the actual story on the web. As an "active" member of this wonderful Real Estate Networking Website: Active Rain, it is my duty to share previous well-writter and well-informing blogs The Official ActiveRain Blog about foreclosures so I will share one with you today as well.
I was watching ABC's Good Morning America 
http://abcnews.go.com/GMA/ this morning and I caught the financial/real estate segment about foreclosures by Mellody Hobson (president of Ariel Capital Management in Chicago). She basically talked about a couple of ways of being pro-active and avoiding the foreclosure process with your home.
1.) The first step she talked about was contacting your lender and re-negotiating the terms of your mortgage. This is not always possible but it is worth a shot to take. Ask them to increase your mortgage term so for example if you have a 3 year fixed ARM and the 36 months are getting closer, then ask them to extend that fixed rate for another year or two! Another option during your negotiations could be to ask for the rate to be decreased a bit. See if your lender can lower your interest rate so that you are more comfortable making the monthly mortgage payments.
2.) The next step she discussed was contacting your lender and discussing a mortgage repayment agreement. Again, this is not 100% proven to work all the time but if you call your lender and tell them you have been seriously ill and maybe even laid off or lost your job, they might give you an agreement so that you can easily be up to date with your mortgage payments.
If you are trying everything in your power and you just can't make your mortgage payments and you just can't afford to live in your home anymore then you have some friendly suggestions from her as well.
Please take a look at her whole story on ABC's website:
http://abcnews.go.com/GMA/Consumer/story?id=2991788&page=1
Also I recommend a blog that I recently read and I recommend it to you as well.
How to Avoid Foreclosure by Eddie Bigness of Keller Williams Realty
Advice/Consultation for Connecticut Homeowners:
LENDER Advice: If you need to refinance your current mortgage then call your lender or your loan officer and ask for a refinance consultation. If you would like to receive a free mortgage consultation with Countrywide Home Loans and my services then do not hesitate to contact me by clicking on this link to start: Contact Nima now!
REALTOR Advice: If you need a realtor's advice then contact your realtor or contact me and I can refer you to a great realtor in your hometown. You can email me at: Nima_Rezvan@countrywide.com or you can call me at 203.913.6016
Thanks for your time.
Your neighbor & Connecticut Mortgage Professional,
Nima Rezvan
203.913.6016
http://www.mynima.com/
I work nights & weekends for your convenience. I'm always working for you! If you want to meet in person then we can make an appointment to meet in my Norwalk, CT office.
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