I'm always amazed when I start looking over the pre-foreclosure statistics of my market area and see how many homes are headed to auction. In Spring Texas alone there are 512 homes scheduled to auctioned off tomorrow.
The sad reality is, based on a small, non-discriminate sampling of these homes, less than 15% of these homeowners tried to mitigate their loss and put their home on the market and less than 50% of these tried to short sale their home.
I'm not sure why there is a lack of action on the part of homeowners that are facing this type of hardship, perhaps they really just don't understand that they have options, or know where to find help (someone that can discuss those options with them), but I find it very sad that this seems to be a consistent trend in our current market.
I hear it said often; that homeowners in this situation most likely don't contact someone for help, because they are embarrassed! Embarrassed...why? There is no reason to be, Things happen that we have no control over, people lose their jobs regularly, they don't plan to, it just happens, People get sick, lose loved ones, their mortgage payments skyrocket...we can’t always plan for these things, we can’t predict the future. Unexpected things happen to all of us, and when they do, it’s definitely not something we should be embarrassed about.
Not taking action at a time like this will cause you even more difficulties in the future. A foreclosure is so much more damaging then a Short Sale. You can see the difference for yourself here.
If you have recently found yourself in a financial situation where foreclosure seems probable, don't wait until it’s too late, like these folks did. Tomorrow their homes will be sold at auction and they will forever carry the stigma of a foreclosure on their record.
Call today, I can help 832-576-4902, you can also reach me at Kim@cdpehouston.com or find out more information at www.cdpehouston.com
The "embarrassment" you overcome today could change your financial future forever, Take action……As a Certified Distressed Property Expert, I have to knowledge and tools necessary to navigate through the very challenging process of Short Sales. I really can help!