How current events impact your business and real estate holdings

Tuesday, June 01, 2010

A foreclosure way of life, it might work for you

I just finished 2 foreclosure defense consults and picked up a newspaper only to read exactly what I had just advised. You can stay in your home. No, the sheriff is not showing up tomorrow. You have time. My point is that if they banks start to learn how expensive foreclosure is by way of court / attorneys costs, the time value of their money that we are locking up, the depreciation in the value of the home, and the transactional costs of eventually selling a home they didn't want in the first place, maybe, just maybe they will learn that a modification is in their best interest.

To read a reassuring New York Times article on the topic, click here.

No comments:

Post a Comment

Share your thoughts and ask your questions here.

Only restrictions are no spam, discrimination, and/or harassing others.

By commenting here you assign us a irrevocable, worldwide, perpetual and royalty free license on your copyright to reproduce your comment, in whole or in part, as we unilaterally deem fit.