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pre-foreclosure tips & advice

Mortgage and Lending with liberty one

October 04, 2008 06:28 AM

Here's what you should do 1st.

Contact your lender to make them aware of the pending problem. You may be surprised of their understanding and willingness to work with you to keep you in your home prior to a bank foreclosure.

If you contact a Realtor. Make sure you work with a foreclosure or short-sale specialist.

It is a complicated, time consuming process which requires a lot of communication and due diligence with your lender.

Try to remain as stress free as humanly possible. It is an emotional time. You did not do anything wrong. You are not alone. You will get through this with the other 3 million Americans.

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Gregory Lohr

West Columbia, SC

Sal - Lots of Realtors and Loan Officers tell homeowners to try to do a workout with their lender. Sometimes this works...if the homeowner gets lucky and finds the right person and this person knows what they are doing. Sadly, this is rare.

If someone is buying or selling a home, we all know they should consider using a Realtor. Can they sell their own home? Sure they can. Can they buy a house on their own? Sure they can...but...The Realtor knows the rules of the game. He/she knows how to protect the interests of their client and what to avoid and how to negotiate. Without a Realtor's knowledge, they are sort of at the mercy of those who do know the rules.

The same applies when dealing with lenders. The rules change on a regular basis, and a homeowner will have a hard time negotiating on their own since they do not know the rules.

Give me a call Sal, and I'll be glad to show you (or anyone else) how you can help homeowners who need help saving their homes...803-461-4210 I'm in SC and take calls from 9am-11pm Sun-Th; 9am-6pm Fri. or email me at SavingYourHome@gmail.com

Oct 12, 2008 12:36 PM

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