In economic uncertainty, it is not uncommon to face financial dilemmas for any number of reasons. When it comes to your home, there are certainly things that you can do to ease the uncertainty. First, look at your full financial picture, along with the all of your available options. NOW. The sooner you take an objective look at the situation and your options, the sooner the remedy can begin. However painful it may be, it is crucial that you open the mail and answer the calls. Keep abreast of what is happening, know where you stand, and find out what assistance is available.
I cannot stress enough to stay in contact with your lender and get assistance as early as possible! Although it is human nature to avoid asking for help, in the end you are wasting valuable time and may be limiting your options for assistance. Remember, foreclosure doesn’t happen overnight.
Also, be very truthful to yourself and your lender when completing documentation. Our emotions may say keep the house at all costs, but reality may indicate that now is the time to pursue other options – such as a loan modification or a short sale.
Knowing all of your options will help you make the best decision possible. I’ve met with customers who chose a loan modification only to continue to struggle to meet their obligations. They wished they would have known their other options or had acted sooner. Conversely, there are some homebuyers who chose a short sale only to find that their perceptions of market values based on national home values were inaccurate and would have made a different choice if given the chance for a “do-over”.
Our respective financial situations and personal goals dictate the path we should take. Take some time out and determine your fundamental goals whether they are peace of mind, financial or emotional investment in our home, or something else. Let that guide you in your choice, but act NOW.
http://www.fightncforeclosure.org/main.html
http://www.makinghomeaffordable.gov/eligibility.html
http://www.fanniemae.com/kb/index?page=home
Carolinas Green Homes
RealtorSherrell Smith
888-666-4326
