Facing Foreclosure?

By
Real Estate Agent with Keller Williams Realty RS-64070

I met with a homeowner today who is going through the foreclosure process and is in the beginning stages of trying to figure out what to do....Now at this point the homeowner has no idea what to do and all she knows is that she is going to lose her home.  This story is told over and over across the country.

So what happened?  I met with her and she is apparently working with an investor who gave her an offer to purchase her home and is in discussions with her lender.  The offer is substantially lower then market value and will most likely not get approved with the lender.  That being said I gave her the facts and told her the value of going with a Realtor instead of an investor, one HUGE benefit is being on the MLS and giving the public the opportunity to purchase her property instead of only one investor who is looking out for his bottom line.

Help is available for homeowners who are in need of help....

 

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Topic:
Home Selling
Location:
Hawaii Honolulu County
Groups:
Keller Williams 'Rainers
The Lounge at Active Rain
Keller Williams Referral Network
Diary of a Realtor
Addicted to Active Rain
Tags:
distressed properties
foreclosure
for sale
short sale
hawaii
honolulu condos

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Rainer
535,574
David Burrows
Classic Realty - Fairfax, VA
No Pressure, Just Seriously Devoted to Real Estate

Thanks for sharing this post. We must always be educating the public on the benefits of using a Realtor. - David

Dec 09, 2010 10:40 PM #1
Rainer
111,120
Pam Sitterly
RE/MAX VINTAGE - Magnolia, TX
CRS Magnolia-Tomball Texas

That's rough. The homeowner thinks the investor will buy the house and stop the foreclosure. But investors buy at 50%-60% of market value. When the bank does not approve that purchase price, and at the eleventh hour the investor says, "Too Bad So Sad. I can't help you."

Then the homeowner call you, five days before the auction to see how you can help. Everybody loses.

Dec 09, 2010 11:08 PM #2
Rainmaker
70,922
Yuri Ramirez-Villanueva
Exp Realty of CA - Elk Grove, CA
Sacramento Realtor, (Hablo EspaƱol)

so true Pam! I guess all we can do is give them the facts, whatever they choose to do with those facts is up to them.

Dec 10, 2010 04:31 AM #3
Rainmaker
114,369
Chris M.T. Bodden
Keller Williams Realty - Kapolei, HI
RA, CDPE - www.BoddenRealEstate.com

Thank you all for the comments.  Gracias Yuri.

Dec 10, 2010 05:08 AM #4
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Rainmaker
114,369

Chris M.T. Bodden

RA, CDPE - www.BoddenRealEstate.com
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