Foreclosures are at a 12 year low....... BUT .......

By
Real Estate Agent with RE/MAX Executive

I was just reading this article that is celebrating the fact that foreclosures are at a 12 year low.  This is wonderful news!!!!  

 

Foreclosures at 12 year low!

 

But there are still things that life throws at people:  Separation, Divorce, Illness, Job Loss, Death - all of these things and more can cause people to get behind on their mortgage payments. 

 

short sale house

Just this week we found out that a friend of ours house went into foreclosure and they didn't tell us.  We totally understand why a person wouldn't want anyone to know that they are behind on their payments because it is a hard time in life and it's embarassing. Don't be embarassed around us.  This is our job and we help people in these situations every day!

 

We just had a client who didn't want to mess up his credit because he wants to buy a new home and had to bring $32,000 to the settlement table!  Most people don't have that kind of money hanging around though.  The reason we were sad to see our friend's house go to foreclosure is two-fold:  in this particular case, he could have potentially gotten money out of it if he sold it, and if he had told us, we could have had our attorney negotiate with the bank and do a short sale for him which isn't as damaging to your credit and shows up as a satisfied debt.  We've seen people in the past that get so depressed over not being able to keep up with their payments that they can't really think straight.  One woman could have had over $60,000 in her pocket after all expenses and I told her this several times, but I think she was overwhelmed and didn't want to face reality.  The bank ended up taking her home and she ended up without all that money.  Some people don't realize that their house is worth more than they thought and they might break even or make money on it.  

 

If you are having difficulties with making your payments, please just reach out.  If you have a family membe ror friend that you know is having a hard time, just email or call and we'll see if there is a way we can help.  

 

Our interactions with our clients are confidential and it is our job to help you get through tough times in the best, easiest way possible.  Don't be a statistic - there are ways to either modify your mortgage loan, or do a short sale and leave on your terms, rather than waiting for the bank to come and change the locks!

 

 

 

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To list your property for sale or to purchase a property in Anne Arundel or Howard Counties as well as parts of Prince George’s, Calvert, and Montgomery Counties, call Lisa & David Webber, Licensed Realtors® at 410-320-0242.  For more information on our services, please visit our profile or our website.  Find us on google+, and twitter.

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Rainer
546,145
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

I can see how that's good news!!!

Foreclosures at 12 year low!

But there are still things that life throws at people:  Separation, Divorce, Illness, Job Loss, Death - all of these things and more can cause people to get behind on their mortgage payments. 

Aug 18, 2018 09:08 AM #1
Rainmaker
2,632,084
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Life does get into mischief from time to time.  You point out how it sometimes does: Separations, Divorces, Illness, Job Loss, Death!

Aug 20, 2018 07:44 AM #2
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Rainmaker
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David & Lisa Webber

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