Foreclosure Information
This is from the STUPID FILE of things banks do on short sales and bank owned properties. There are certainly enough stories to complete a library and yet, just when you thought you read the one to beat all stories, another comes along that makes you scratch your head in wonder. My clients want to buy a modest home on a few acres, priced at $64,900. They offer $45,000. since it’s been on the market for about 5.5 months. Offer rejected! They look at a few more homes and decide they would like to offer $60,000 on the first home....
Losing the American Dream Buying a home is the “American Dream” and a huge investment which is normally not taken lightly. I doubt many people who sign their loan documents and open the door to their new home, think “well, if I can’t make it, I’ll just let the bank foreclose”. As a matter of fact, I haven’t met one homeowner who thought they would be facing foreclosure when they moved into their new home. Life happens, though and many today are finding themselves at the mercy of “the next paycheck” or the lack of a paycheck. What I generally find...
It is part of my normal routine to contact lenders on behalf of my clients who are in the process of trying to obtain a short sale on their home. Today, one of the lenders I called had an intro message warning their clients about third parties who approach them offering assistance on loan modifications. I was happy to hear they are educating their clients about their ability to act in their own behalf and deal directly with the bank. It is my personal recommendation to all my clients to stay in contact with their banks once they fall behind on...
A Homeowner’s Nightmare With the economic crisis we are facing in the real estate sector of our economy, many homeowners are realizing their home may not be the investment they thought. The dream of homeownership has turned into a nightmare which haunts them daily. In Indianapolis, we have many homeowners whose payments reset or adjusted and combined with a higher tax payment made a significant impact on their ability to stay ahead of their payments. Missed Payments It doesn’t take much in these circumstances for a homeowner to get behind. The birth of a child, an extended illness, a job...
