An Inside Glance at Home Retention

Yesterday afternoon as I was approaching my latest home retention assignment I was hoping to find the homeowner so I could share important information about options available to help them avoid foreclosure.  As I turned onto the street I noticed a UHaul in the road and wondered if it was the house I was going to visit.  Mine was the house next door and I was glad to find the homeowner and I think the homeowner was glad to for me to find them too.

Thanksgiving was less than 12 hours away and the homeowner was getting ready to leave town to visit family with a load of worry about what might happen next. The fact that so many homeowners really don’t know that these days their lenders would rather find a solution to the current deficiences than foreclose amazes me. But I also understand when someone is dealing with difficult situations they sometimes don’t get the information they need.

Worn out from a year of medical issues the homeowners initial response was “I don’t want to loose me home”!  And I was not there to take it but to advise the homeowner that contacting the lender was the right action to take for now.  As the homeowner connected to the lender and explained the failed attempts to work out modifications we me I could only listen to the tale of mounds of paperwork lost or sent numerous times or the denial of any solutions offered on the part of the lender.

Yes I am very aware that many homeowners have been denied loan modifications but I also understand the rules are changing and new programs are available and the only way to find out what might be the best option for the homeowner is to open the lines of communication.  So thankful this time the homeowner wanted to hear the message I had when I knocked on the door and to know that perhaps this time both the homeowner and the lender were ready to work things out together.  Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

If you or someone you know is having difficulty making mortgage payments, contact Sandra Bundy for a confidential consultation. 

Additional resources

SC Mortgage Help – Funds for SC homeowners who have been laid off and direct loans to help avoid foreclosure.