Temecula CA – According to the Wall Street Journal , the
average homeowner with a home in foreclosure hasn’t made a payment in 492
days. What’s even crazier is that those homes are still in the foreclosure
process.
That means that a homeowner can live rent free for even longer than 492
days. How long could they potentially live rent free?
Get my Free, Step By Step Loan Modification Guide by
clicking here.
In some states like Florida and New York, we estimate that they can live
rent free for two years. We have even seen cases where homeowners were able
to live rent free for three years.
If you are facing foreclosure, then I am sure that is good news. But, I’m
sure you are wondering why it is so long. Let me explain.
The entire foreclosure system is backed up. There are several parts that
make up the “foreclosure system.” The first part is the bank’s foreclosure
departments
These departments coordinate everything in the foreclosure process. The
second part that is backed up are the foreclosure lawyers. There are only
so many lawyers trained in foreclosure work.
The big law firms that specialize in foreclosures are now handling 2-3
times as many foreclosures compared to a few years ago. The last part that
is clogged is the courts.
The courts are not going to have judges start processing foreclosures
unless that judge is properly trained in foreclosure legalities. So they
are scrambling to find judges experienced with foreclosures.
This is turning into a spiraling problem. Two years ago many homeowners
would have looked down on someone who took advantage of the system.
Today those same homeowners are emboldened by seeing other people do it
with no consequences. That is why I think the problem is going to take a
few more ways to work itself out. Thinking about a loan modification?
Our Temecula loan modification guide will show you how to reduce your
mortgage payment, keep your home, and get back on your feet. Send me an
e-mail at tom@homesbytom.us to request a Free Copy.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 951-506-5744
Discover how other sellers successfully completed a short sale and request
a free consultation by clicking here.
Thanks for reading this,
Tom Olsewski
Sales Realtor
Phone: 951-506-5744.
Email: tom@homesbytom.us.
View My homes for sale at http://www.homesbytom.us
Tom Olsewski specializes in loan modification assistance and short sales in Temecula California. Temecula Loan Modification Help, Temecula Short Sales. Temecula Short Sale Realtor.
Important Notice
Tom Olsewski Olsewski, Keller Williams, and the Stop Foreclosure Institute are not
affiliated in any way, shape, or form with the government. Our services
have not been reviewed or endorse by the government or your lender. Most
lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our
offer to help you on a short sale, your lender may not agree to a short
sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything
else in life. It takes work and persistence to convince your lender to
modify your loan. No matter what you or we do, your lender may not approve
a loan modification.
We do not recommend that you stop paying your mortgage, because this will
cause damage to your credit and could cause you to lose your home. Because
we know avoiding foreclosure is so important to any homeowner, we recommend
that you speak with the appropriate legal or tax advisor before making any
decision.
This is not intended as legal, technical, or tax advice. Please speak with
a licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with
the short sale, then you do not have to pay us our fee. We normally make a
real estate sales commission for helping you on a short sale.
The views expressed here are Tom Olsewski’s personal views and do not reflect
the views of Keller Williams.
This information on Temecula Loan Modification News: The Average Homeowner
Can Live 492 Days Rent Free is provided as a courtesy to our viewers to
help them make informed decisions.
