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 (11)

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
Roy Kelley
Retired - Gaithersburg, MD

Good Thursday morning, Ginger.

I hope you are enjoying a very productive month.

Take care and be safe.

Sep 30, 2021 07:00 AM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I very well may have commented on this already but I think they're always going to be trends and ups and downs we just have to be prepared for us to use our best skills

Oct 09, 2021 11:23 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Ginger Harper - I am receiving a lot of similar emails from companies I don't know warning about upcoming foreclosures. I liked the comment by Ed Silva. Having done short sales before, i.e., 2008, he is correct. In my area, there is also been a lot of training for foreclosure sales for the past two years. So far, I'm not hearing from any previous clients of mine asking for help. 

Nov 08, 2021 09:28 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
St. George Utah Area Residential Sales Agent

Haven't seen/heard anything yet Ginger. Our market is still moving right along. Happy New Year to you!

Jan 06, 2022 06:02 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Ginger, looks like you are taking a break, but maybe time to write another post!

Jan 22, 2022 06:53 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi Ginger Harper  thanks for dropping by our blog post today. D 

Feb 04, 2022 11:30 AM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much for your comment on my recent post.

Have a productive 2022!

Feb 07, 2022 02:32 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Ginger - wondering how the market is going in your area now.  Seems like there is a shortage everywhere.

Feb 20, 2022 05:22 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Ginger - I can't imagine with the still hot market in North Carolina that there are anywhere near that prediction.

Jun 07, 2022 08:40 AM