During the past twelve months I have witnessed hundreds of families in my community lose their homes to foreclosures. The effects are not only devastating to the family but also to the streets, neighborhoods and communities where this is taking place. It is not uncommon to drive down any given street and see at least two houses boarded up, slowly deteriorating and making the value of other homes sink a little each month.
I began to do some research as to the ramifications of this crisis and how all our programs will be negatively affected by what has been taking place. Our communities depend on Real estate Tax dollars and consumer dollars in order to properly fund much needed services. I decided to meet with local professionals to discuss a plan of action to alleviate this tragedy. After many months and long meetings I decided to open my own agency Save Your Home Organization. Prior to this I received many calls from former clients asking for help to avoid foreclosure. It seems that the only help available came from agencies that charged the client thousands of dollars to attempt a loan modification. Needless to say these families did not have the money and could not be helped.
Save Your Home Organization is my small business which I recently opened. It is a community based organizations dedicated to working in the community. It depends on the guidance and time of professionals such as Real estate Attorneys, Appraisers, Mortgage lenders and community leaders. I have had the honor of having these individuals on my side as I learn to travel the maze called Loss Mitigation Department at Lending Institutions. It has been an experience ! It always amazes me that a Lender would rather foreclose on a property, place it on the market and then have it sit there for months until they finally auction it for 1/3 of the loan amount that the former homeowner owed them. I ask, is it not common sense to reduce the monthly payment for these families to an amount that they can afford which is usually much more than what they will be getting if the property is auctioned? I still await for the right answer.
Active Rain members have been such a valuable asset as I find myself many times in situations where a Lender refuses to cooperate even if it appears to be in their best interest. Surely I must be missing some vital piece of information here or may this be one of the reasons we are in this financial crisis? Please I ask all of you. do not let your clients lose their home. There is help out there if you do not give up and stay on top of the situation. Agencies like mine may not get rich or make a profit but we do contribute to the welfare of our communities by keeping Real Estate Tax dollars and consumer dollars in our communities.
Thank You for all your help.
Adriana Raines, Save Your Home Org.
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