Statistics show that homeowners are better informed than compared to four to five years ago when the market turned and hardship became the norm. Foreclosures are down by 14% in California from last year alone.
To be honest it was a learning curve for many...
- Banks had to learn to handle the high volume of defaults.
- The government had to develop programs.
- Realtors had to learn the options and then educate the homeowners in default.
- The homeowner had to learn their options and act fast enough to take advantage of it.
The fact is that many are still walking away from their homes that just do not need to. There are options for the homeowner however. I must also warn that not just any Realtor can help a hardship homeowner. Many Realtors are not full time Realtors, many have their license but do not practice and are lost to the options and processes.
So, to help a friend or family member that is not seasoned or experienced, with your future on the line, will many times result in a foreclosure. Every client is different and unique. It is not a slam dunk that you will keep your home, but many times you can leave with an exit plan and regain your credit and buy again in two years if done properly.
Your options are to seek advice from a seasoned/experienced Realtor as soon as you can to figure your best solution...
- This agent must present all your options, not just sit with you to list your home for sale.
- This agent must care enough about your future, to show you the other options that will not necessarily get "that" agent a commission from the sale of your home. Unless, it is what you eventually choose.
- This agent must be know the answer to your question what if...
- This agent should be full time and work with short sales... Have listed at least 12 homes last year, worked with more than one bank on negotiating the best interests of the seller.
- Have a professional Short Sale Negotiator on their team.
If you have more questions about this subject feel free to contact me.
Dee Molina 909-659-1315 Cell License# 01422710