Are You In Danger of Foreclosure?
By: Jaclyn Erwin, ABR, Realtor
Charlotte, NC Real Estate
With today's sky-rocketing foreclosure rates, many homeowners are missing out on opportunities that can save them, their credit, and possibly their home. . .
Homeowners, Learn the "Key" Facts Regarding Foreclosures:
FACT 1:
Many homeowners encountering financial distress and facing foreclosure procrastinate until the threat of losing their home reaches epic proportions. In order to save your home, you must Act quickly. Avoiding the situation is Not wise. My suggestion would be to contact a Realtor to assist you. Those that specialize in Pre-foreclosures can provide valuable assistance. Often times, they can do so at No cost to you.
FACT 2:
Time is of Essence. Again, the sooner you seek professional help, the better. The entire foreclosure process is time sensitive. By seeking help, communicating effectively, and reacting positively as soon as possible, you can save your home. This means that a Realtor can represent your best interest in working with your lender(s) to establish a payment plan to help you eventually get back on course. If you decide that you Do Not or Can Not afford to keep the home, a Realtor can help as well by negotiating with the banks to sell your home for less than what you owe. This process is known as a "Short Sale." Keep in mind: A Short Sale Approval takes time, can be highly successful, but requires a great deal of skill and patience from your real estate professional. So, seek an agent who specializes in this area and ask/check for references.
FACT 3:
The Lender DOES NOT want your home! In fact, it is more costly for the lender to foreclose on your home than to help you avoid the process entirely. Lenders, including the renowned banks, lose money when they foreclose in many cases. Additionally, there are highly expensive costs associated with hiring real estate agents to list foreclosed properties, attorneys to maintain the legal aspects of the homes, appraisers to appraise the homes, and employee costs for employees to oversee the process.
FACT 4:
There are several options available to help you AVOID FORECLOSURE. Most solutions are absolutely FREE to you with NO MONEY REQUIRED! In fact, Lenders prefer to work with Realtors (and will compensate them for all the work they complete to get the Short Sale approved) because they know they are licensed professionals, adhere to a special code of ethics, and highly liable for any wrong doings or misconduct. Sure, outside investors can seek a short sale for you. But, there is no Code of Ethics that separates their interests from yours, and they are neither highly liable nor licensed as Realtors. Yes, there are some investors that can do the short sale correctly and fairly. However, lenders prefer to work with Realtors. Period. For liability reasons. In fact, I have worked with many lenders who refuse to communicate with anyone other than a licensed Realtor authorized to handle the homeowner's account.
FACT 5:
You can save your credit! Short Sales, Approved Lender Re-Payment Plans, etc. are examples of how you can turn around a negative, very stressful situation into a positive one. Moreover, these are all common practices that take place in all states throughout the country. However, different states have their own rules and regulations to protect both the consumer and the lender. Again, a real estate professional can help you.
FACT 6:
Make The First Step! If You Don't Seek Help and Contact Your Lender(s), How Will Anyone Know to Assist You?
FACT 7:
I Can Not Stress This Point Enough: Seek Professional Assistance: Seek You Realtor, Attorney etc. But, Make Sure They Are Professional. Period. In Today's Time, Scams Are Rampant!
For Additional information on Avoiding Foreclosure in North Carolina, Contact Jaclyn Erwin: http://www.jaclynworks4u.com/! Jaclyn Erwin currently holds a 100% Short Sale approval rating. Contact Her Today For Immediate Assistance. References Are Available.
Jaclyn Erwin, ABR, Realtor
Charlotte, NC Real Estate
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