When oh when can we just go back to resales and new construction with hardly any distressed sales any more? I feel so sad for the sellers who can't make their payments because they lost their jobs or have some other hardship; and yet, I feel so strongly that the payments should be made because a commitment was made to pay them. But how? It seems for many there just is no way. I certainly don't know the answer.
Everything seems all confused in today's world. I want it fixed, but I don't know what can be done to fix it. Will someone out there please do whatever it takes to make the pain go away for so many sellers? Leave politics out of this and find a way to bring back our nice, steady, even economy with no big ups and no big dips.
In the meantime, I believe we should keep some things in perspective. For example, are the lenders really always the bad guys? I believe we have to recall that they were kind enough to grant the loans, so people could buy the homes they wanted at the price they wanted to pay.
What prompted my outburst? It's from my heart which is broken to think that my own neighbor is having such a tough time financially. I just learned that he has decided to let his home be foreclosed. He bought the home for thousands more than it's worth now. Does that sound just a little too familiar in this real estate market? I've heard from a reliable grapevine source that he's going to walk away. Wait! There are options out there. Did anyone tell him a foreclosure on his credit report is not a good thing?
My question to you is, "Is it okay for his real estate neighbor, me, to interfere in his business to let him know that there are options?" I typically like to mind my own business when it comes to neighbors to keep things warm and friendly, but I believe he should at least call his lender and discuss his options! He may be able to stay in the home with a loan modification or refinance. I would think that even a deed-in-lieu of foreclosure would be better than walking. As difficult as short sales can be, I think selling is worth considering, too. Wouldn't you agree?
I would love to hear your comments and opinions. Please call me at 435-865-1019 or 800-934-3742. That's Janet Naisbitt-Bagley at ERA Realty Center. You can also email naisbitt@infowest.com or text or call my mobile at 435-559-7772.
My website is www.homesincedarcity.com where you can find the Cedar City, UT, area homes for sale including foreclosures, short sales, new construction and other bargain-priced homes. Whether buying, selling or referring, I'd love to help with all your real estate needs! There are a lot of opportunities, I believe, for buyers in this bargain-driven real estate.
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