The Raleigh Real Estate market is causing unbearable stress and heartache for many families. Many Raleigh homeowners’ are losing their homes to foreclosure because their anticipated income did not keep pace with their adjustable rate mortgages and inflation. Many people in this position call a REALTOR to help them sell their homes only to discover that the past two years of decreasing home values in Raleigh has left them owing more for their home than they can sell for. REALTORS will tell them if they sell now they will bring money to the closings table. Not having money to pay to get out of their house they tell the REALTOR they will have to wait. 6 to 12 months later they end up giving their homes back to the bank in foreclosure which ruins their credit and hurts our Raleigh Real Estate values even more. The story doesn’t have to end like this.
As of September 2008, it is reported that 1 out of 10 people with ALL mortgages in the US are now in default. This is a huge number on top of the 1 in 45 that is already in foreclosure. With more job loss on the horizon we are going to see more foreclosures in our Raleigh Real Estate market. What saddens me the most is that 7 out of 10 homeowners go into foreclosure with out hiring a REALTOR that has a CDPE Designation to help them negotiate with their Mortgage Company. Banks do not want to own real estate and they welcome the opportunity to have an experienced REALTOR assist with solutions.
If you know of anyone struggling to make their payments please have them call me at 919.235.0007 for a confidential consultation. I can help them avoid foreclosure and save the credit they need to have to re-establish their lives.
Linda