What is the reason you can no longer pay? It sounds as is you already have a verifiable or documentable hardship.
If someone CANNOT make their mortgage payment, they will usually qualify for a short sale, particularly if they are otherwise insolvent. (Note: insolvent simply means their total debts are greater than their assets.)
If you are in this situation, and you have no other assets that you could liquidate in order to satisfy your mortgage debt, you should contact an experienced and certified real estate professional who specializes in short sales. A Short Sale Specialist will already be familiar with the requirements and procedures of many lenders and can provide you with expert guidance through a long and often trying process.
It will take some time and cooperation on your part, but when you finally get that approval letter from your lender, releasing you from the mortgage debt, it will all be worth it.
Got a question? Ask me. Send me your question via email, and I'll gladly get the answer to you.
Click th graphic above or this link to Get your FREE copy of my informative downloadable report, "Your First Steps to Avoid Foreclosure"
Did I hear right?
According to recent NAR reports, if nothing else sold EXCEPT distress properties (meaning REOs and short sales) there is now approximately 2 years worth of distressed properties on the market? Furthermore, there are 1 - 2 homes on EVERY street that is in trouble. And it is projected that over 7 0f 10 homeowners go into foreclosure with no visible intervention! 
This sounds like a perfect storm brewing, and a prime opportunity for distressed property specialist to increase their outreach efforts and consult some of these people.
Yes, there's a lot of duck-paddling going on.
Like ducks on a pond, people who seem to be floating effortlessly along are in fact paddling furiously just beneath the surface. Many are in denial about where they really are. It's up to us to keep reaching out, offering professional help.
Real estate professionals seeking to help home sellers in distress should be looking particularly for those who got option ARMS that are due to reset this year. Those owners' payments could more than double this year.
How can you get to them before this happens?
That's the challenge.
Focus on the data. Ask yourself, "What are the percentages of distressed properties for sale in my marketplace? What's closing? Who is actually selling?" 
This year, it behooves us all to develop a plan to help distressed sellers. People that don't have to sell are mostly staying out of the market, (or are pricing too high for the market.)
I know that many others in the AR community are working on plans to serve this market. Let's share some ideas here.
I'm reaching out with a very personalized card and testimonial letter to people whose foreclosure announcements I'm finding in the county organ (the newspaper through which the requisite 4 pre-foreclosure announcements are published.)
How about you? What are you doing?
Thinking of buying this year? It could cost you a lot more to do it later. Save money by doing it NOW.
FHA has changed the amount of Up Front Mortgage Insurance. Effective April 5th all new loans will have an INCREASED Up Front Mortgage Insurance (UFMIP) from 1.75% to 2.25%
On a $200,000 loan that means the extra.5% will add $1000 to your loan. On a $300,000 loan that will add $1500 to your loan balance.
So, think about getting off the fence now, and give me a call if you're ready to buy.
Why I Live in the South.
My cousin sent me this snapshot, taken from her Pittsburgh, PA driveway on Saturday.
Brrrrrrrrrr! Home sweet Pittsburgh. Do you think I miss it?
And they are expecting 6 - 10 NEW fallen inches tonight!
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Ellenwood GA-Stockbridge GA Brick Homes for Sale Weekly Report 2/5/10
Three brick homes sold in the Ellenwood-Stockbridge area of south metro Atlanta, GA in the last week. (The subject area also includes some parts of Conley, Morrow and Rex)
The average sale price for a full 4-sided brick or 3-side brick home in these areas last week was $276,767, with four sales closed.
Additionally, four brick homes went under contract, with an average list price of $258,800.
Good news for Buyers: Six brick homes for sale came new on the market this week at an average list price of $237,000.
Four others were recently reduced to an average reduced price of $198,500.
For more information on these and other brick homes in the Ellenwood-Stockbridge area, or for help selling your Ellenwood-Stockbridge area brick home, contact me today.
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Real Estate Professional, Internet Marketing Specialist, CDPE and Pre-Foreclosure Specialist serving the south metro Atlanta communities of Ellenwood, Stockbridge, Conley, Morrow, Rex, Decatur, Jones
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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