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Foreclosure Alert!

By
Real Estate Agent with Crye-Leike Realtors

During recent studies it was found that 50% of people who lose their home to foreclosure have never been in contact with their lender!  Amazingly enough, over 30% of the people who have been contacting their banks have avoided forclosure, and it is now public knowledge that more than 30% would be saved if more were calling!

Most homeowners are intimidated by the process of even dialing the number to lay out the God honest truth, so some have solicited the help of their local realtor. 

Realtors have dealt with lenders for years, and know the vocabulary and much of what a lenders risks and liabilities are to hold a mortgage.  A good realtor will help anyone in need by educating them in the process, or even making the calls on the home owners behalf.

With the economic struggles America is facing today it is definately time we began helping eachother.  Call you local agent today and ask for help.  Your recomendation to use this realtor to all of your friends will be payment enough for the help they give you. 

Let's end the foreclosure epidemic one home at a time.  You're next!  Give us a call!

Show All Comments Sort:
Peter Baumbach
Search Homes for Sale in Maryland at HelpShop.com - Owings Mills, MD

I have a short sale listing, but it is our hope that Fannie Mae's new Streamlined Loan Modification program will allow the owners to keep their house. We let our sellers know about the program, and their excited. The program doesn't start until Dec. 15th. So we don't know yet if it will live up to the promise. For any Fannie May and Freddie Mac owned loans in trouble, this may be key. There is no charge to the sellers. The loan servicer will be paid $800 to get these modifications done. You can read some details at my wifes post about it.

It feels great to help someone out in such a major way if you can.

Nov 26, 2008 04:57 PM
Greg Wilson
1st Cornerstone Realty - Schaumburg, IL

Having worked with a few foreclosures, I do believe that the people that have the loans are still in denial.  They wait until the very last minute to do anything.

Nov 27, 2008 11:08 AM
Donna Schoby
Liberty Bank of Arkansas - Bentonville, AR

Jason, Good for you! I think some homeowners do not know that there may be ways to help them. They are so overwhelmed and just give up. Hope they will call you.

Nov 30, 2008 07:20 AM
Jason Smith
Crye-Leike Realtors - Fayetteville, AR

Many agents are still in the mode of making money now instead of investing in the future.  Don't be suckered into listing your home before exploring ALL options.  If your realtor isn't willing to help you contact your bank and investigate into options other than selling, then they are only on their side.  Realtors need to remember our true job:

I pledge myself:

To protect the individual right of real estate ownership and to widen the opportunity to enjoy it;
To be honorable and honest in all dealings;
To seek better to represent my clients by building my knowledge and competence;
To act fairly towards all in the spirit of the Golden Rule;
To serve well my community, and through it, my country;
To observe the REALTOR®, Code of Ethics and conform to its lofty ideals.

 

If we are looking to make a quick buck of a short sale, or are preying on the devistation of a home owner for our chance at a commission, then we are not protecting the individual right of real estate ownership.  Search yourself and make sure you are protecting the public...even if it is from their bank!

Nov 30, 2008 07:30 AM