Shorewood Foreclosure News: More Homes Lost

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Real Estate Agent with Steve Roake Homes - Keller Williams Realty Infinity

ForeclosureShorewood Foreclosures News: More Homes Lost

DSnews.com reported that over 7 million homes are 30 or more days delinquent.  A little more than 2 million homes had already started foreclosure proceedings and about 2.5 million that are 90 days past due and about to begin foreclosure.  Currently, Shorewood has 350 homes in foreclosure, according to Realtytrac.com.  47% of these homes are pre-foreclosure and can avoid foreclosure auction.  Short sale is a viable option and many times foreclosure can be delayed.  This allows homeowners a little more time to sell via short sale and protects their credit rating from foreclosure, which may prevent anther home purchase for up to 7 years.

Loan modification may also be an option for homeowners who qualify.  Typically, lenders want to see that there is enough income to make payments.  Without sufficient employment, loan modification will not be feasible.  In these cases, short sale may be the best option.  

There are many sources of information about avoiding foreclosure.  HUD, Hope Now and many other webites offer foreclosure information, counseling and assistance.  The sooner people in trouble start, the more likely they will be successful.   

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Steve serves the real estate needs of buyers and sellers in Shorewood, Plainfield, Joliet, Crest Hill, Romeoville, Bolingbrook, Oswego, Minooka, New Lenox, Aurora, Naperville and NW Will County.  Specializing in short sales, investment properties and first time home buyers, Steve attacks problems with a tenacious outside the box approach and keeps working where many others would have given up.   

To learn more visit www.getmovingwithsteve.com.  Specializing in Shorewood IL Real Estate, Plainfield IL Real Estate, Joliet IL Real Estate, Minooka IL Real Estate, Channahon IL Real Estate, New Lenox IL Real Estate, Oswego IL Real Estate, Bolingbrook, IL Real Estate, Romeoville IL Real Estate, Naperville IL Real Estate and Homes For Heroes Affiliate - Learn more or Register at PlainfieldHeroes.com 

 

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