OK, Here we go again. We should all know the reason for the slowdown in the market by now, the sub prime mortgage market crisis. Let's work together to see if we can work together to do something to correct the market, before we end up like the markets back east. We need to get some positive information out there to give the people that are facing foreclosure a little hope.
Here is the name of the website where they can get some more info is www.HopeNow.com. They are an industry-led group of the largest lenders, servicers, credit counselors and investors that came together in late 2007 to help homeowners deal with mortgage-related problems. They can help them get through these hard times when making your mortgage payment has come in second to putting food on the table or paying for utilities.
They are not looking to help people find hand outs, but if the person that has received a notice of default will do a little work, they can put you in touch with the right people to talk to at your lender to work out an agreement to get you back on track with your mortgage. (Hardship)
The truth is the bank doesn't want to foreclose, nor do they really want to do a short sale. So let's get the word out and together we can try and save the people that can save themselves, before they end up doing more damage to our market with short sales.
Check out this page to see what people around the country are saying about this great program:
http://www.hopenow.com/homeowners_events/what_are_homeowners_saying.html
No, I am not being paid to show this information and Hope Now is not taking any money from the borrowers to help them bridge the gap with the lenders. Here are some numbers from Oregon that we should all be aware of. It shows how rapidly the delinquency numbers for the last five quarters are growing in the state of Oregon:
Oregon 5,427 5,501 6,290 7,476 9,158
As you can see, the numbers are rising, and by getting the word out you can help keep these numbers from doing more damage to our market than has already been done...
I know that many of you Realtors are representing our market well by getting the most for the homes that you are listing and thereby directly impacting our market for the better, but I hope that we can all do just a little more and avoid the complete failure of the market to take care of homeowners investments that we have seen on the East Coast...God Bless...Jason
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