Understanding and recognizing foreclosure prevention options is a must in today's world, or any world for that matter. When we start listing real estate on the moon we'll still have to recognize the ways to prevent foreclosure. Here are a few things I share with our customers and clients when the question arises:
1. Absolutely make mortgage payments the first priority.
2. Manage your budget to avoid crossing the line past the point of no return.
3. Build up a nice savings account for a healthy reserve in case of a financial crises.
3. Get in touch with your lender the moment you realize you can't make your mortgage payment.
4. You can receive free housing counseling by calling 1-888-995-HOPE.
5. Remember to never make payments to anyone other than you lender or a foreclosure attorney.
These are just a few things to remember.
Can you think of other options that you should inform your clients or customers about when they have questions about foreclosure and the preventive measures that must be sought to insure that their legal and financial responsibilities are met ? Helping our clients and customers keep their homes is my number one priority as a REALTOR®.
When the time arrives for your client to sell their home, my greatest hope is that it's because they need a mountain view or another room for the new arrival in the family, or something similar, and not because the court-ordered sale of the home is in four weeks. I wish good thoughts today, for all of my friends and thank you for yours.
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