Are we doing anything to help with foreclosures?

By
Real Estate Broker/Owner with Buyers' Choice Realty

These trying times provide us with a unique opportunity to show our true colors.  As a group, Real Estate Practitioners can be that much needed "lifeline" for people adversely impacted by the lending industry's debacle. 

A few years ago I went through Hell trying to stop this young family's foreclosure.  I literally spent dozens of hours on the phone, trying everything in order to stop the foreclosure.  In the end it paid off: I succeeded.  I will never forget that phone call I received from my client.  It still sends chills up my spine to this day.  It was hard to understand her at first, because she was crying so hard.  Sobbing uncontrollably she mustered: "Thank you, thank you, thank you!  You saved our lives!  Thank you!  We will never forget you!  What you did for us is the best thing anyone has ever done.  I don't know how we'll ever be able to repay you!"  I never expected that phone call.  I wasn't even sure they understood the kind of trouble they were in.  Her words will always stay with me, and saving their home from foreclosure was one of my badges of honor as a Realtor. 

Just last week I helped another family keep their home.  It wasn't even a lot of work.  I simply pulled the comps, I told them how much equity they had in the home, and I advised them to try negotiating with the Lender again, and to go to the top, especially in light of the fact that they had so much equity in the home.  They did, and they were able to work something out.  They were not even my clients; they were another agent's clients and she called me to ask for help, so I did. 

Here is my invitation:  let's use our knowledge and energy to help these people out.  The time and effort it will take is well worth it.  The goodwill created by doing so, will fuel our Real Estate Practice for years to come...  Not to mention our Reputation...

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Ambassador
530,235
Mirela Monte
Buyers' Choice Realty - North Myrtle Beach, SC
Myrtle Beach Real Estate
I am hoping to connect with those of you who really care!
Oct 05, 2007 02:12 PM #1
Rainmaker
1,100,324
Barbara S. Duncan
RE/MAX Advantage - Searcy, AR
GRI, e-PRO, Executive Broker, Searcy AR
You didn't tell us what you did to stop the foreclosure on the first example.  Oftentimes there is no equity.  In fact, in most instances there is probably no equity.
Oct 05, 2007 02:12 PM #2
Ambassador
530,235
Mirela Monte
Buyers' Choice Realty - North Myrtle Beach, SC
Myrtle Beach Real Estate
I'm glad you asked, Barbara!  I will write another article about that experience in a blog tomorrow or next week.  Why don't you subscribe to my blog through next weekend?  I would love everyone's input on this issue, as we will see more & more foreclosures in the near future.
Oct 05, 2007 02:23 PM #3
Rainer
129,397
Gary Bland R (S) E-Pro, ABR
Hawaii Life Real Estate Brokers - Wailea, HI
I am like you.  If I can help why not.  My motto is that it will come back ten times the reward!!
Oct 05, 2007 02:40 PM #4
Rainer
9,644
Thomas Cunningham
Buyers' Choice Realty - Charleston, SC
Charleston, SC Real Estate

    As always in life, you get back what you put into it. Nothing could be more true than in the Real Estate Industry itself. Too many of our so-called fellow Realtors are in this business strictly for the Pay-Check and sadly nothing else. Our sole focus should be to help people along their path to Homeownership and/or investing for THEIR futures and not ours!!  To do this we must strive to put our egos and pride behind us and trample through all that is laid before us when trying to take on such a task as helping a family keep their house that they have worked so hard to get.

Ms. Monte's efforts should be commended and use as a guide for the rest of us to follow. We should all take note and let our hearts lead us more often!!

 

Oct 05, 2007 02:40 PM #5
Rainer
317,569
Barb Merrill
Cactus Mountain Properties, LLC - Tempe, AZ
GRI, Associate Broker
I needed that encouragement, Mirela, as I am struggling along to find a solution for a homeowner on the verge of foreclosure.
Oct 05, 2007 02:53 PM #6
Ambassador
530,235
Mirela Monte
Buyers' Choice Realty - North Myrtle Beach, SC
Myrtle Beach Real Estate

Dear Barbara,

Feel free to contact me with the specifics.  I will blog again next week on the subject and make a few other suggestions.  I will be glad to help you any way I can!  I would love to form a group for all of us who are concerned, so we can network together and help each other out on this issue. 

It makes me so happy to see so many of you concerned!  It makes me proud to be one of you!  Keep the Faith and Thank you!

Oct 05, 2007 03:52 PM #7
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Mirela Monte

Myrtle Beach Real Estate
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