There are historical sleepers emerging out of their intense 5 to 20 year deep snooze.... Awakening in time to discover that completely owning their home was just an illusion! A fading vision that stopped short of completion, it was just a DREAM, that for some, graduated to becomig a horrific nightmare!
Statistics record that 1 out of every 200 homes in America will be FORE-closed upon and that every 3 months, a staggering 250,000 new families will begin one! (Mortgage Bankers Association)
FORE-closure has become the new FORE-letter bad word! At the time buyers signed the documents FORE the home, most did not have the FORE-sight ahead to see this day! It was a FOREign word then and has become a word we'd like to FORE-get now!
With job loss being the number 1 reason, there still remains many options be-FORE one has to endure the dreaded FORE-closure procedure: Receiving a deed in lieu, undergoing a short sale, negotiating a loan modification, accepting a FORE-bearance agreement, and refinancing, are a few. Sleepwalking walking away has also been chosen by those without FORE-seen hope.
Advisers rarely suggest that borrowers can and should retain their investment by renting their homes through a reputable property management company while downsizing. This choice can be a win win solution for both the mortgage holder and the lessee. We have found some of the best possible renter-candidates to be past homeowners! They possess a lengthy and faithful payment history and do yearn to recapture a bit of their lost dignity stolen in the strip-search during their FORE-closure!
This American dreamer has awakened wiser, is clothed with genuine humility, and is in need of a little mercy. These are the choicest prime prospects, and should be highly sought after by discerning property management companies. Equipped with acquired homeowner mentality, managers of quality rental homes have a much safer guarantee if they targeted some of these professional lessees, rescuing them out of their nightmares by placing them in their best abodes... FORE-sure!
"Where the RIGHT Price is the RICE Price!"
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Rice Property Management & Realty, L.L.C., serves South Suburban IL & Northwest IN Residential & Commercial Real Estate. 423 East 158th Street, South Holland, IL 708-862-7423. We disclaim all liability for any damages or losses, directly or indirectly that may result from use of or reliance on information contained in this blog or for accuracy of comments or opinions of visitors to my blogs.