There is an epidemic going on in this country and it concerns me a great deal. The epidemic is
called “Foreclosure” and it is happening all around us. It is fairly silent problem. The people
who need help aren’t asking for it. They are too embarrassed to talk about it so they don’t get
the help they desperately need. We are seeing people literally leave their homes in the middle
of the night so the neighbors don’t see what is going on. I need your help.
At Edina Realty we are becoming highly skilled working with banks to keep homeowner’s in their
homes or working out “short sales” so the damage to their credit is significantly less than a
foreclosure.
I am asking you to become interested in the lives of those around you. I don’t want you to
become someone who prys into the personal lives of people who don’t want you involved.
However, it’s typically not hard to recognize when someone is having trouble financially. When
you see that, be interested enough in helping them to have the courage to ask if they are in
trouble. Let them know there is help out there. The biggest problem to this epidemic is people
think they are alone. Let them know that there are 4.68 million homes that are projected to sell
this year. At the same time, there are 5.5 million homes that have mortgages that are in default.
This isn’t a small problem. It is an epidemic.
Did you know that someone who has gone through a foreclosure won’t be able to get another
mortgage for 5-7 years? Did you know that many employers will not hire people who have a
foreclosure that shows up on their credit report? Did you know that a foreclosure can damage
your credit score by 250-300 points and that will make it more difficult and more expensive to
borrow money through any source?
There are options other than foreclosure. In 2009/10 the banks are realizing that it’s better for
them to work with homeowner’s rather than work against them. If things are handled properly,
it’s possible to get the banks to take a significant loss and have only minor damage to your
credit. The main thing is to make sure they work with people who know what they are doing.
Please care enough about your friends, relatives and neighbors to encourage them to ask for
help if they need it. I am here to help. Please have them call me. I promise I will treat them
with respect. I will let them know they are not alone and I will fight to help them. They just need
to know they are not alone and I will fight to help them. They just need to know how important it
is to contact me early in their troubled times. Many times I am talking to people who are too far
along. At some point, it is actually cheaper for the bank to just foreclose. No one wants that
(not even the banks).
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