Bank of America, JP Morgan Chase, Wells Fargo, Citi Bank have moved past the “robo signing” scare and are sending out trustee sale dates at warp speed to their customers. So, those homeowners who have been able to escape payments for months, maybe years…are now facing foreclosure.
If your in a situation like this, or wondering how your going to make your house payment next month…please contact a knowledgeable short sale trained real estate agent. Think about what’s important to you and your family, when your honest I bet that it’s not really the home your living in right now that’s draining you financially and emotionally.
Having experienced loosing a home myself, I have come to realize that “4 walls do not make a home”.
Getting over the feelings of this somehow being your fault has to stop. You did not cause the real estate market to crash, you can’t do anything to change the economy in America. You CAN do something to change your corner of the world and get back on track.
If your drowning, grab for the life preserver and get rid of the anchor thats holding you down. Maybe a short sale is not for you, there may be other alternatives for you. But whatever you do, please don’t just walk away and give the house back to the bank. That will follow you around negatively for 10 years on your credit.
Not only that, if you have a second mortgage on your home…a foreclosure does not take care of that lien. Those lenders can and will pursue you for the note you signed…and still owe after a foreclosure.
Home prices are declining, and will continue to do so in most markets for a few more years. 40 % of Americans with mortgages are in danger of foreclosure according Foreclosure Radar.
Consider all of your options, how will you best recover from this bad economy?
