Foreclosures

By
Real Estate Sales Representative with Keller Williams Advantage II Realty

Foreclosures,

Here is a little known fact regarding the foreclosure crisis in our country. 50% ( Fifty Percent) of the people that are in a mortgage crisis ( facing Foreclosure) do NOT even make a single phone call to their lender!

COMMUNICATION is the the biggest most important tool you can use if you are having issues with your mortgage! Make the call! Thats right Make the Call. Let your lender know what is going on! You may be surprised how much it can help. Your lender does NOT want your home. After all they make their money lending it to you! Getting your home via Foreclosure is the LAST thing a bank wants.

There are stories that banks do not want to help. Well actually,the person you may have called does not want to help. But do not get put off by this. Either try again or get an advocate. Yes there is help Virginia. HUD! Not only that but its FREE!!!. ( How cool is that).

http://www.hud.gov/news/release.cfm?content=pr07-105.cfm

http://www.fha.gov/

Both of these links are full of usefull information.

 

 

The Bottom Line.COMMUNICATE!

Hope you found this information useful.

 

Comments (3)

Sylvie Dolley
My Home Group Real Estate LLC - Litchfield Park, AZ
CHMS, ePRO, SFR Phoenix Arizona Real Estate 602-32

Hi Rick,

I think that the reason alot of people dont call is embarrasment!  They dont want to admit that they are either not making the best money decisions or whatever.  I agree with you, communication would have probably helped at least 50% of the people that were Foreclosed on in the last year or so.

Take Car & Have a Grat '08!

Apr 17, 2008 12:36 PM
John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana
I wonder how many people don't care especially if they didn't put any money down.
Apr 17, 2008 12:48 PM
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

We invite you back to ActiveRain in 2017.

  Much has changed since your last blog post.

  Best to you!

Jun 14, 2017 07:15 PM