I have started sending out a postcard to folks that are facing a foreclosure. It lists the toll-free hot-line that was created for troubled borrowers. It is a free call and there is no obligation. 1-888-995-4673 is the number and they are available 24/7. Here's a link to an article written about the HOPE toll free number. Or, visit their website at: www.995HOPE.org
If you are in this situation, the first step you need to take is to get educated about your rights and options. There are 6 options you have, 3 will allow you to keep your home, 3 will result in a disposition.
I have helped many families facing this situation, and several of them have been approached by investors offering to buy their redemption rights. Then, they have been told, they can rent their own home from the investor for a year or two and eventually, have the option to purchase their home again. Others have been told that the investor will "save" them from a foreclosure by fixing up the house and selling it for them. Before you sell your redemption rights or walk away from your home, contact a neutral party that can explain the foreclosure process and guide you in making decisions. Whether you choose to hire an attorney, talk to a HUD approved Counselor, hire a Real Estate Agent that has training in Foreclosure Intervention or seek other advice, don't delay! Time is of the essence!
I am a full service, full time career Realtor. I specialize in Residential resale representing both buyers & sellers. I enjoy assisting and educating my clients to create a fantastic experience!!
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Melissa, I have helped several past clients through the short sale option. It is so much better than taking a foreclosure.
Congrats on Wichita being named the number 2 place in the nation by ABC news to get a job.
Marchel, I agree, helping someone thru the short sale is a better option than just walking away, or being talked into selling their redemption rights just so someone else can profit! Hey, thanks on the congrats - I was sent a link to that story by several people. I'll have to do some research to find out what the criteria was they used to determine our #2 spot.