We know that foreclosure is not an event that happens in a month or two. It takes many months, sometimes over a year before someone loses a home. During that time, homeowners live in a cloud of uncertainty not knowing what to do. Many avoid discussing their situation so they never get the help they need while others seek out the help and they fall prey to scammers.
Since 2007, 7.9 Million homes were lost to foreclosure. Reports tell us that one out of four homeowners owe more than what their home can sell for. Many of these homeowners are in this situation due to circumstances beyond their control and not because they have not planned well.
Foreclosure impact credit and lives for many years. Sometimes, it complicates employment prospects. Everyone should know that foreclosure can be avoided. However, as I talk to homeowners, I realized that many homeowners are not aware there are many options to avoid it. Some ended up in foreclosure because they trusted and paid a company to do their loan modification and by the time they realized it was a scam, it was too late to save their home from foreclosure.
Lenders are now willing more than ever to help homeowners by cooperating with the short sale for homeowners to avoid foreclosure and prevent bigger financial losses. Many lenders even offer moving allowance to homeowners who cooperate in the short sale.
The best advise I can give homeowners who are going through hardship is to contact your lender and explain your situation. The most important fact to keep in mind is the sooner you seek help, the better your options to navigate away from the stress of an unmanageable mortgage and realize that better solution is within your reach.
As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide homeowners in distressful situation alternatives to foreclosure and ensure that they steer clear from scams. Times may be tough, however, there is more help available now.
If you know someone you care about who needs help, contact me today and I am ready to help.
Elizabeth Eugenio
For addditional information or if you need further assistance, please call me at (909) 248-3821 or email me at Elizabeth@HomesByLiz.info for a private consultation. Your privacy will always be respected and we will never share your information with anyone.