Many of the calls we receive are from people who have situations so far from doable that they are days or weeks from losing their homes. By the time we hear about their situations, they have already tried to modify the loans, have worked with the lenders every way they can, and in some cases have succeeded in getting a modification, but the loans are still too much to handle.
Lenders can't just make the loan disappear. Often it seems illogical that they would not work with the homeowner and reduce the price to the current market value, but that is not something we have heard them doing. In fact, if it gets down to a short sale, they may reduce the price of the home considerably, but not for the homeowner. Banks only lower the price for a new buyer. They do this for the new buyer because that is what will happen anyway if the home goes all the way to auction.
We don't know the internal banking reasons why they won't work with the homeowner, but it makes some sense if seen from their point of view. If they reduce the price on my home then my neighbor will expect the same service. One or two people don't pose much of a problem, but a large bank would be looking at an incredible amount of properties, with no way to accurately gauge each homeowner's real situation.
There are some alternatives if a homeowner is willing to face up to the reality that he or she will probably not be able to stay in the home. Stay tuned for more.
Desert Cities Home Buyers offers no obligation information at http://www.socalforeclosureprevention.com as an affiliate of The National Prevention Center.
Sunday, January 31, 2010
Monday, January 18, 2010
Guilt, Depression, and Inaction
You no longer want to check the mail or answer the phone. You spend the night awake, but you feel as if the day is a dream world. Nothing comes together, nothing makes sense.
You know there is a problem waiting out there, you know there is a path out of this difficulty, even if it is painful to consider that path, but you can't seem to find the first step.
Even if you know the way to go, the act of taking that first step makes the process concrete. It's easier to deal with a problem like foreclosure when it is just an abstract theory. Unfortunately, abstract theory is interrupted by reality. The ache in your gut reminds you that all is not well and something must be done. At times you feel tired, at other times you feel sick.
It's time to put the concrete situation in perspective and take action that will heal you. You are not a bad person, you have not committed a great evil. You acted in good faith, and perhaps the people who helped you into this mess acted in good faith as well. Perhaps they didn't, but that is irrelevant right now, because right now you need to do something to move out of this mental trap of inaction and do something.
First, foremost, take some time and forgive yourself. Remember that you have tried, done your best, and that there are times of loss we all must go through. You have survived troubles before. You will survive this too.
Desert Cities Home Buyers offers no obligation information at http://www.socalforeclosureprevention.com as an affiliate of The National Prevention Center.
You know there is a problem waiting out there, you know there is a path out of this difficulty, even if it is painful to consider that path, but you can't seem to find the first step.
Even if you know the way to go, the act of taking that first step makes the process concrete. It's easier to deal with a problem like foreclosure when it is just an abstract theory. Unfortunately, abstract theory is interrupted by reality. The ache in your gut reminds you that all is not well and something must be done. At times you feel tired, at other times you feel sick.
It's time to put the concrete situation in perspective and take action that will heal you. You are not a bad person, you have not committed a great evil. You acted in good faith, and perhaps the people who helped you into this mess acted in good faith as well. Perhaps they didn't, but that is irrelevant right now, because right now you need to do something to move out of this mental trap of inaction and do something.
First, foremost, take some time and forgive yourself. Remember that you have tried, done your best, and that there are times of loss we all must go through. You have survived troubles before. You will survive this too.
Desert Cities Home Buyers offers no obligation information at http://www.socalforeclosureprevention.com as an affiliate of The National Prevention Center.
Sunday, January 17, 2010
Foresclosure: The First Step--Moving Beyond Denial
Have you seen your home's value drop and your payments rise? Are you considering what to do and feeling backed into a corner? You are not alone. So many homes are in trouble in Riverside County, many of them right here in the Coachella Valley, that entire subdivisions look nearly abandoned.
Good, hardworking people are struggling to keep their homes and worrying about what to do if they can't maintain the payments. We receive calls every week from people who have gotten to the stage where they know they must do something, but don't know where to turn. They have lost jobs, seen decreased income from investments, gone through divorce, illness, or other catastrophe. The pain keeps on coming, and they finally admit that it is too much, they need to find a way out.
That is the first step, of course. You hear it whenever anyone is in trouble, no matter what the cause. Any problem we face can be ignored, for a time. Sooner or later, though, we have to face up to the problem before it steamrolls us. Take it from us, when faced with the threat of foreclosure, the sooner we face the reality of our situation, the sooner we can rid ourselves of the problem and move on with our lives.
Desert Cities Home Buyers offers no obligation information at http://www.socalforeclosureprevention.com as an affiliate of The National Prevention Center.
Good, hardworking people are struggling to keep their homes and worrying about what to do if they can't maintain the payments. We receive calls every week from people who have gotten to the stage where they know they must do something, but don't know where to turn. They have lost jobs, seen decreased income from investments, gone through divorce, illness, or other catastrophe. The pain keeps on coming, and they finally admit that it is too much, they need to find a way out.
That is the first step, of course. You hear it whenever anyone is in trouble, no matter what the cause. Any problem we face can be ignored, for a time. Sooner or later, though, we have to face up to the problem before it steamrolls us. Take it from us, when faced with the threat of foreclosure, the sooner we face the reality of our situation, the sooner we can rid ourselves of the problem and move on with our lives.
Desert Cities Home Buyers offers no obligation information at http://www.socalforeclosureprevention.com as an affiliate of The National Prevention Center.
Subscribe to:
Posts (Atom)