With the current financial crisis and foreclosures becoming more prevalent their are many people that don't know where to turn, but there are options.
In August lenders performed roughly 79,000 loan modifications for home owners to help keep them in their homes. So lenders are trying to be more pro-active in preventing foreclosures. Lenders take a hit on average of $100,000 per property that goes through foreclosure (Reuters News and The Associated Press - 10/02/08). So being able to work out loan modifications benefits both home owners, lenders, and the economy as a whole.
One of the main things when a homeowner needs assistance with doing a loan modification, it's extremely important to consult a professional with experience in dealing with lenders. This last month I assisted five families in working out loan modifications, enabling them to stay in their homes. For those did not qualify I was able to explain to them, options to avoid foreclosure.
If you have questions and are not sure where to turn, I'm here to help. E-mail me at MattEbbighausen@RealtyExecutives.com.
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