Apr 232014
 

short sale image

For homeowners who are in danger of losing their home to foreclosure, it is common to feel like you are all alone and that there is no one who can help. This simply isn’t true. There are real people who have been in the same situation who have found solutions. Take, for example, Dan and Jessica M. of Grand Blanc Township, Michigan.

For Dan and Jessica, their homeownership dream always involved building a house on a piece of land. “We build a house on half an acre,” said Dan.  In order to achieve their dream, they stretched a little beyond what they were comfortable with by getting two adjustable rate mortgages, a common practice at the time. “The introductory rates were 8.5% and 11.5%, but our lender said, ‘Don’t worry, you can refinance after two years.’”  For a while, they were getting by. Then, a couple of things happened. “We had our first child, and soon afterward, Jessica lost her job,” said Dan. “Soon, bills started piling up.”

Because they believed they’d be able to refinance, they started paying their bills on credit cards. “We hung on for the full two years hoping we could refinance at a lower interest rate, but when the time came, our lender said no because our home’s appreciation was too low.”

Dan and Jessica needed help. A friend referred them to a real estate agent who was a Certified Distressed Property Expert®. The agent answered their questions. Most importantly, the agent explained the difference between a foreclosure and a short sale. In a short sale, the bank agrees to allow the home to be sold for less than the amount due on the loan.

“With this information, we were able to decide that a short sale was our best option.” It was a stressful process, but the agent helped them tremendously. She even kept a potential buyer from walking when the process was taking longer than expected. “Honestly, if it weren’t for her, the buyer would have left and we’d have been stuck.”

Dan and Jessica’s story is just one of many. I have a report entitled “From Foreclosure to Freedom” which tells other stories of real homeowners who faced foreclosure and found relief. Call or email me if you would like to read the stories. Then contact me for a free, confidential consultation whenever you’re ready.

Linda Martignetti, CDPE, Broker/Owner Crossroads Realty Team
954-464-5434
Linda@CrossroadsRealtyTeam.com

 

Sorry, the comment form is closed at this time.