Foreclosures

The national new media almost daily reports on record foreclosures in the nation. Foreclosures, like real estate is local. The Quincy area has seen some foreclosures, but not to the level that is reported nationally. There will always be some foreclosures. Perhaps the owner ran into some major health issues that put them behind in mortgage payments. Perhaps the economy has has caused a work force reduction. Perhaps the owner bought more house that what they could really afford.

Generally speaking, the Quincy lenders are conservative in nature. They did not make the risky loans that other lenders did in other parts of the country. However, when the national news media continues to hammer away at the record foreclosures, the general public will eventually believe the story to be true and will sit back and wait. If you get into a situation where you cannot make your mortgage payments, the best advice it to talk to you lender. Generally they are willing to work out different terms, just to keep you from going into foreclosure.

As a REALTOR, I can help in the discussions with the lender. Contact me if you want more information.