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Home Pat GorDon, GRI, Associate Broker

Pat GorDon, GRI, Associate Broker

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Client Asking Foreclosure Help from Realtor

02-02-10
Pat GorDon, GRI, Associate Broker

So, one of my client's called yesterday to inform that he was behind in his mortgage and had, that day, received the "Notice of Sale." He was in tears, asking me what he should do.

Evidently, he's lost his job, had health issues necessitating surgery and hasn't paid his mortgage in seven months. He's one of my favorite clients, so I knew he'd had surgery because, being a good Realtor, I've kept in touch. I did not know, though, that he'd been laid off and was not paying his mortgage. We cried together. His situation just seems so bleak.

Now folks, I'm a Realtor -- not a loan officer, home inspector or mortgage modification agent. I honestly didn't know how to counsel him. My only suggestion was that he work with the mortgage company. I've since heard horror stories of properties being foreclosed on while the homeowner is still in negotiation with them.

Are there those out there who can offer help, hope, suggestions?

2 Comments
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Yes, buy that property!

11-13-08
Pat GorDon, GRI, Associate Broker

So . . . I'm watching the news this morning, and the Anchor announces that prices are down 14% and that most who purchased their homes post-2005 have lost money ~ their homes are no longer worth the money they borrowed to purchase the property.

Often, very often, I'm asked if now is a good time to buy. Yes, Yes, Yes. Now is the best time to buy. Prices are low (14% less than 2005, according to the news). Sellers are willing to negotiate. OMG, puh-leeze buy property now. Not now, right now!

AND THEN, along comes the media who, once again, is scaring prospective buyers away.

Darn. Can't live with them . . . can't shoot them!

2 Comments