Helpful Hints to Avoid Santa Cruz Foreclosures

Posted by Lauren Spencer on Monday, September 21st, 2009 at 2:22pm.

Foreclosure is a dreaded word at any time, but the present economy makes it a common dread, one that many homeowners share that normally would never enter their minds. There are new government aid programs as well as tried and true methods for combating Santa Cruz foreclosures and every homeowner should know them.

Nip It in the Bud

Procrastination is never a good thing but when it comes to foreclosures it is a death sentence. Most homeowners know when they are on shaky ground and starting to have problems paying their mortgage.
Because it is usually the biggest monthly expense, mortgages are often the first thing to suffer when things get tight. Waiting to talk to your mortgage company about problems until you actually begin missing payments doesn't leave much time to correct the situation, and believe it or not, most mortgage companies would prefer to work things out than have a "dead" non-performing asset on their books.
Call your mortgage company and talk to them about solutions to your problems. When you call, be prepared to explain the situation that is causing your difficulties to prove that there really is a hardship. Most lenders will send you a pre-foreclosure package that guides you and shows you what you need to do to prove you are under financial strain.

HOPE for Homeowners

HOPE is the HUD program that helps homeowners avoid imminent Santa Cruz foreclosures. The Government program refinances at a lower rate to help people stay in their homes when all other avenues of solution have failed.

Don't Give Up Without Exhausting All Means

Your home is important and worth the effort it takes to keep it. With the help of the stimulus plan, banks are able to do more than they used to be able (or willing) to do to provide solutions to homeowners to avoid Santa Cruz foreclosures.

If you would like more information on what to do in the event of possible foreclosure, please give me a call at 831.662.6522 or email me at lauren@laurenspencer.com

 

LINKS:

Foreclosures

Hope for Homeowners

stimulus plan

 

About Lauren Spencer

Award-Winning Santa Cruz REALTOR®

Lauren Spencer is your local real estate expert, specializing in Santa Cruz real estate and surrounding communities—this is where she lives, works, and plays too. Let her know your questions about the community and county and she'll be happy to fill you in on all you want to know! Lauren Spencer has consistently been voted best local REALTOR in Santa Cruz and is always happy to offer her advice and expertise. Call her at: 800.226.4717.

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