Sunday, May 11, 2008
More and more people in Southern California are seeing their homes being foreclosed on. Some have had the bank take their home and some have just walked away using the "jingle mail' method (mailed the bank the keys to the house). The worst part is that a large number of these people didn't even talk to the bank first. They became paralyzed and felt cornered and were afraid to pick up the phone and see if there were any options open to them. If you find yourself in this unfortunate position call your lender before you give up and mail them the keys. There are a few ways your lender may be able to help you stay in your home. They could set up a payment plan to give you time to catch up on the arrears or they might even be willing to modify the loan to reduce the monthly payment. Don't assume that you lender is the enemy....give them a call you may be surprised at their willingness to help. DON'T put your head in the sand and hope it will all just go away, it won't. For information on how to stop the foreclosure on your home visit How To Stop Foreclosures at my Studio City, Sherman Oaks Real Estate site.
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