Families Need Sound Foreclosure Advice

By
Real Estate Agent with Century 21 Manausa and Associates BK3009719

 

Help with foreclosure in Tallahassee FloridaThe national foreclosure crisis has affected nearly 938,000 properties in the July-September quarter of 2009 compared with about 890,000 in the prior 3 months according to a report released October 8th, 2009 on RealtyTrac , a site which monitors foreclosure across the Country.

If you have fallen behind on your mortgage due to hardships, such as loss of income or marital change, you have options to avoid foreclosure.

What Is A Foreclosure?

Simply put, a foreclosure occurs when a borrower/mortgagee has not made the agreed upon mortgage payments and the lender/mortgagor takes possession of the home that was held as collateral for the loan.

Where do I go to get foreclosure help

You Have Options When Faced With Foreclosure

When families are faced with the foreclosure of their home, it creates a very stressful situation. The most important thing for families in this situation to understand is that there are different options on how to handle the foreclosure of the home.

  • Bringing Your Loan Current Will Stop The Foreclosure

The simplest option to foreclosure is to bring the loan current. Send the amount of money the bank requires to make the loan resume to current status. Pretty simple huh? I should have thought about that a long time ago… just make the payment… The fact is, most loans that are in foreclosure are due to families facing financial hardships that did not exist when the loan was made. They do not know how to “bring it current,” so they need other advice, and that is the purpose of this article.

[click to continue on How To Stop Foreclosure…]


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Joe Manausa, MBA
Century 21 Manausa & Associates

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Re-Bloggged 1 time:

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  1. Charles Stallions 10/22/2009 09:22 AM
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Topic:
Lending / Financial
Location:
Florida Leon County Tallahassee
Groups:
Almost Anything Goes
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Tags:
foreclosure
short sale
forebearance
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distressed property
fannie mae tallahassee

Comments 8 New Comment

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Rainmaker
739,920
Joe Manausa
Tallahassee Real Estate
Century 21 Manausa and Associates

You're right Gabe. I can't believe how they've taken over the commercials on Sirious and XM radio.

October 19, 2009 06:30 AM
Rainmaker
971,166
Sharon Alters
Your Fleming Island Relocation Agents.
Coldwell Banker Vanguard Realty

Joe, sometmes the loan modification is more than the original payment.

October 19, 2009 06:58 AM
Rainmaker
739,920
Joe Manausa
Tallahassee Real Estate
Century 21 Manausa and Associates

THanks Sharon (or Frank). Loan Mods can be worked to be lower payments if you make them interest only with 2 to 4 % interest. Of course, the same problem might occur at the end of the mod period.

October 20, 2009 05:56 AM
Rainmaker
1,235,790
Charles Stallions
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.
Charles Stallions Real Estate Services

Folks need to really be told about their options where they can make a sound decision. Folks are throwing their hands up and walking away because they know no better.

October 22, 2009 05:06 PM
Rainmaker
739,920
Joe Manausa
Tallahassee Real Estate
Century 21 Manausa and Associates

Thank Charles, and you're right. They do have options.

October 23, 2009 05:06 AM
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Rainmaker
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Joe Manausa

Tallahassee Real Estate
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