I have found myself lately helping people who are really messed up with their mortgages. No, I don't always get a sale from this, but that's okay. There are some people that are just really in a mess right now and don't know the best way to get out.
Yesterday, I met with a gal who wanted to see an inexpensive home that I have listed. When I got to the house, she let me know that she had to sell another home first, then as we talked, I discovered that she was upside down. What do we do now. There are many options and just sitting down and counseling with them all the options is a good idea. Sometimes, you can figure out pretty early, you are not going to make a sale off of this client. But you can help them. We as have a responsibility to the public, and even tho it's hard for us to make a living right now - we have to help as much as possible.
So, easy tips for those in need:
1) have them contact their bank and see what they can do
2) explain short sale, deed in Lew, and foreclosure to them
3) have them see a loan originator and discuss what a short sale, or foreclosure would do to their credit.
4) direct them to Consumer Credit Counseling, have them stay away from the companies that say they can do if for your. CCC is the best way to go.
5) be encouraging and let them know that this too will pass and they will be back on track with their lives.
I never thought I would do so much counseling in my real estate career - but it's all part of the job.