With the number of homeowners we hear about facing foreclosure, some people will have you convinced that banks WANT to take your home. In fact, mortgage lenders are also victims in this crisis (believe it or not) as well.
If you look at the numbers, 1 home in every 662 received a foreclosure notice in March 2012. Banks have their hands full managing all these properties. They will run themselves out of business if they were to take back the homes of all their high risk mortgages.
Most lenders are willing and eager to find a way to keep you in your home. The key is to act sooner rather than later so you have as many options available to you as possible.
Don’t let fear keep you from contacting your lender to see if there is a workout plan available to you.
If you are not able to restructure your payments we can assist with a Short Sale or recommend other alternatives to foreclosure.