5:57 PM
Cygnus Real Estate
Aah eet's dat time again...de time when all of my human friends and colleagues are compelled to clean like crazy people. They clean their homes, they clean their cars, they organize their desks, they run around saying they are cleaning up their lives and their acts and so on, like a pack of crazy yapping female chihuahuas. All of dis' hoopla for what? If it is so important why they not do it all the time? Why just at the beginning of a new year- and den dey are back to their old slovenly habits.
I say it is good to be a dog right now- We are not bothered with such silly ideas. We know what is important- a spot in front of the fireplace to stretch out and soak up some heat after a long romp in the snow. We know it is better to chase squirrels and unsuspecting cats rather than chasing our own tales and we know that there is a limit to what we can clean up. We are okay with that. We know that we can depend on our pack to get us through whatever comes our way, whether our pack is composed just of other dogs or our human companions, even if there are dreaded cats in our pack- they will all be there for us. Humans would do well to follow our example: appreciate what you've got- never forget to say thank-you even if you have to do that by wagging your tail and licking someone's hand (or their face) and always ask if you need help. It's good to ask politely first- a quiet whine or a nudge, but if you don't get what you want it is also good to bark loudly.
In my real estate practice I see so many people struggling with their mortgage payments and their homes and they do so without asking for help. They don't whimper, they don't nudge anyone- sometimes they don't even confide in their own packs. I think this is a basic failing... People don't realize that if they are having a hard time making their mortgage payments there are places they can go to ask for help. THERE ARE FREE- COMPLETELY FREE- RESOURCES TO HELP PEOPLE OBTAIN A LOAN MODIFICATION. A loan modification can take many forms...it can defer morgtage payments for a number of months to allow a person to get back on their feet. It can reduce the interest rate- thus reducing the payment- it can even reduce the principal amount of the loan or any combination of these options. And if a person truly can't keep their home or doesn't want to keep their home any longer they should pursue a short sale.
Short sales are less damaging to credit. They allow a person to live in their home without making anymore payments until it sells and in most cases the bank will reward the homeowner with $1000-1500 for pursuing a short sale instead of sending the house to foreclosure. I think this makes infinite sense- stay in your home- save some money for the move and maybe even get a reward from the bank to help with the move. The property owner will have at least 90 day after the NED (Notice of Election and Demand for sale) is filed and served and most short sales are taking more like 120 days or more. That's 4 months to save for your move.
Max says, "the smartest thing a property owner who is behind on their mortgage can do is contact a my friends and Colleagues Carole & Greg Higgins." They are experienced real estate professionals (Realtors) who can quickly help you evaluate your situation, and your options. If you want to seek a loan modification they will refer you to one of the many non-profit organizations who specialize in helping homeowners modify their loans at no charge to the property owner and if you watn to pursue a short sale they will do that for you again at no cost to you.
