Information on Roanoke Pre-Foreclosure, Foreclosures and Short Sales

I am amazed that more and more homes are going into foreclosure in the Roanoke Virginia market and the homeowners actually have equity and are allowing themselves to be foreclosed on.

In talking to some of these previous homeowners I am finding that most of them are either:

1) Overwhelmed by the events that led to the foreclosure process
2) Embarrassed that they are unable to pay their mortgage payment
3) Don't know that once they are behind on their mortgage that there is still a way out
4) Don't realize that their are real estate agents trained to help them in these situations.
5) A combination of the above

There are thousands of foreclosures coming on the market everyday.  Believe it or not (sometimes it is hard to believe) banks don't want to foreclose on homeowners.  Banks make very poor owners and they tend to sell the property for far less than the party foreclosed on could. 

If your loan adjusts and you can no longer afford your payment, call or email me.
If you lose your job and can no longer afford your payment, call or email me.
If you paid too much for your home and you cannot sell it now because the value has fallen, call or email me.
If your hours were cut or your employer cut your salary and you can no longer make your payment, call or email me.
If you are behind on your payment, call or email me.

Many home owners have equity in their home and could sell outright without fear of foreclosure if they would get help soon enough instead of waiting too long.

If you DO owe more on your house than it is worth you can always do a "short sale".  A "short sale" is when the bank allows you to sell your home for less than is owed on it.  Short sales are best performed by agents who have educated themselves on the short sale process, agents who have learned how to compile the short sale packages that the lenders require.  Short sales are not guessing game or a try and see how it goes type of transaction.  If any of the required paperwork is not in a package the lender will simply not work the file.  Call or email me today if you are considering a short sale.  It doesn't cost you a thing and you are not obligated for anything. 

The most common two phrases I hear are, "I feel like a quitter" or "I feel like a failure".  I don't think anyone is a quitter or a failure when they go down fighting.  Let me help you fight.

Damon