Many of our friends,family and clients May have a friend or relative that has been touched by the recent Foreclosure Problems. Below is a list that may help them to call their lender's loss mitigation department and seek some relief from the financial and emotional stress of being in foreclosure or close to.

Most important, Find a realtor that has experience in the short pay offs and foreclosure.

Most Realtors that have been around since the 1990-1992 rash of foreclosures became great experts in working with the banks and lenders during the foreclosures of the early 1990's . Currently, especially with the recent Fannie Mae and Freddie Mac bail out, Lenders are more willing to work with the borrower to help lower his interest rate and keep the borrower in the house. In this season, banks and lenders do not want these homes back and most foreclosures are homeowners that can afford to stay in their homes if they can get rid of the high interest rate loan and get a lower interest rate. Remember, this market is different than the foreclosure market of the '90's. Most of today's homeowners in foreclosure can afford the house , they just can not afford the high interest loan 

Need help from your bank's loss mitigation department? Below are some phone numbers, contact me for more banks if you do not find your bank's number on here. I will be glad to help.

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