Foreclosures in our future?

By
Real Estate Agent with Coldwell Banker Sea Coast Advantage~ Ginger Harper Real Estate Team 93383

Good Morning Active Rainers,

 

I was in an UPDATE course for our state of North Carolina yesterday.  One of the speakers was  a "short sale" attorney and he told us to "hang on to our hats"  that there were going to be 100's of 1000/s of foreclosures going to happen very soon.  The eviction process has changed and many folks are underwater with their mortgages  I would like to help those folks as much as I can and help them find a new place to live.  

 

This is a pitiful situation and we all know folks that are going to be in this position.

 

Please share with me anyway to reach out to the mortgage lenders, Wells Fargo, BB&T, First Citizens, USAA,   Any help would be greatly appreciated.

 

 

Thanks,

 

Ginger  Harper

Southport NC

 

 

Comments (2)

John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

You are mixing evictions and foreclosures as if they are one and the same or one necessarily follows or accompanies the other. Not true.

I can't speak for North Carolina, obviously, but in most places of California, equity growth of homes owned as residences or investments has growth substantially in the last few years. An owner with equity would be more than foolish to allow their property to be foreclosed upon when they can sell like any other property and walk away with cash.

Owners with equity are not able to sell as a short sale.

As for those who may be evicted...their poor credit may make them ineligible as buyer-clients.

Jul 30, 2021 12:32 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

The people that should be concerned are those that were in pre-foreclosure status before the pandemic as they will be first in line when the courts open up again.  Banks may well offer a loan modification process but the debt may not be forgiven

Jul 30, 2021 01:45 PM