Every year June is National Homeownership Month.
It celebrates the value of how owning a home brings people a step closer to the American dream. This may also be an essential time for real estate agents to take stock of their skills, clients, and unique abilities to help neighbors find places they can call home.
But what if you’re a homeowner facing foreclosure? An important aspect of a real estate agent’s skill is their ability to help clients navigate the difficult waters of avoiding foreclosure. There may be times when you fall behind mortgage payments due to troubling times of the pandemic, the loss of a job, or crushing medical debt. Whatever the reasons are, you need to have a good real estate agent find foreclosure solutions for you. Why?
Real Estate Agent’s Knowledge of State Law
Foreclosure rules differ from state to state. For instance, some states give homeowners more time to catch up on payments or sell their homes than others do. For a complete guide of our local area, there is a good handout provided by the City of Cleveland detailing these issues located here.
Real Estate Agent’s Ability to Negotiate
Because foreclosures can be quite expensive for lenders, they may be open to a loan modification or refinancing. This would lower the amount of your monthly mortgage payment and allows you to stay in place. However, if your income has drastically changed due to job loss, a relationship split, or another reason, a renegotiated mortgage loan or loss mitigation agreement may not be sufficient to keep you in your home. In that case, a real estate agent can help you negotiate with your lender on your behalf to avoid foreclosure proceedings altogether.
Real Estate Agents are Foreclosure Rescue Specialist
To avoid foreclosure entirely, you may have to make some difficult decisions. You’ll probably need to do things like eliminate your extra debt, or filing a bankruptcy may be an option. That is why you should always look for a foreclosure rescue specialist who is respected in the industry and has worked with several people from the Cleveland area before. They’ll be able to give you a realistic idea of your options before they begin negotiating on your behalf.
The Bottom Line: Act quickly by allowing real estate agents to find foreclosure solutions for you! If you’re not sure of how to deal with the challenges involved with home foreclosures, talk to us – CPD Homes, LLC! We are buying houses in Cleveland, and have been helping families and homeowners since 2012. We’ve been dealing with home sellers – inherited properties, divorce, behind on the mortgage, major repairs needed, sudden move, or for whatever reasons homeowners sell their homes- CPD Homes is here to help. We buy houses in any condition and in all price ranges! So call us today to discuss your property at (216) 619-4387
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to drop in your information and we will get back to you with a CASH offer! We are here to assist you.