A Rescue Plan for Homeowners

This afternoon, I’m sitting at a friendly spot where everyone appears to be doing just fine. While they visit, talk and laugh I surf the net and read the news about what’s really going on.

Foreclosures, bankruptcies, unemployment & bail-outs.

First of all, this post isn’t a message of bad news. This is a life-preserver of hope and good news. It’s a message of options… options you may not be aware of.

Almost every day I have to answer the question… “So, how’s the Real Estate market?”  My answer is always the same… “Business is good.  Buyers buy every day and Sellers sell 365 days a year!”  It’s the truth.  People are surprised when I tell them I’m busy during the, “down-market.”  How am I busy?  I offer options when people feel they are at the end of their rope!

This year I encountered very difficult real estate situations.  People losing their jobs and on the brink of losing their home… their dream home.  I could be the agent who says, “just list it!”  But, that’s just not my style.  I’ve spent countless hours with families who tour dozens of homes before finding the home of their dreams.  When a family is about to lose that home, I don’t have the heart to, “just list it!”

AFRAID YOU MAY BE FACING FORECLOSURE?

TO SELL OR NOT TO SELL — IT’S YOUR DECISION

Can’t pay your mortgage?  Think it’s better to walk away?  Consider these options first….

  1. TALK TO YOUR MORTGAGE LENDER! They may have a re-payment or deferment plan to help you get back on track.
  2. SHORT SALE – A short sale is when a Mortgage Lender AGREES to accept less than what you owe.  The process of proving to the Mortgage Lender that you can no longer afford your mortgage payment is as stringent as it was to qualify for your mortgage to begin with.  You must prove your hardship; loss of employment, reduction of income, change in marital status, etc….  Once approved for the Short Sale, a Broker can list and price your property under “Fair-Market-Value” and chances are you’ll get an offer QUICKLY!
  3. CHAPTER 13 BANKRUPTCY – CAN STOP FORECLOSURE PROCEEDINGS!  This is an option offering individuals the opportunity to save their house from foreclosure.  If you choose this bankruptcy option, you may be able to qualify for a new mortgage 12 months after your bankruptcy discharges.
  4. CHAPTER 7 BANKRUPTCY– THIS OPTION MAY RESULT IN THE LOSS OF PROPERTY!  If you choose this bankruptcy option, you may have to wait at least three years (after the discharge) before qualifying for a new mortgage.
  5. TALK TO A REALTOR AND/OR A REAL ESTATE ATTORNEY – Chances are you may have enough equity in your property to sell the old-fashioned way!  Whether you zero out or make a small profit, selling the house without using the above four options is the BEST way to go!

“Valet Real Estate Services Around the Clock!”  If you have general real estate questions, I’m always on-call.  Whether you’re a Home Buyer, Home Seller or a Tenant… I’ll gladly tailor my service to suit your needs.” 

~Agent Val, Your Trusted Real Estate Advisor

Val-A-Homes

METRO REALTY | Val J Aranda, REALTOR®

4007 McCullough Ave, Suite #477
San Antonio, TX 78212 | Direct to Val: 210-378-5987

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