Don't Worry, You Will Own Again.

So you gave all your might to save your home. You kept track of all the correspondences from the mortgage company and their attorneys. You completed all of the Loan Modification paperwork and emailed, faxed and even mailed a physical copy of your completed loan modification package. You waited three months for the mortgage company to finally receive your application, only to have them ask you to re-submit all of your bank statements, W2s, etc, because it’s too old to analyze.

Finally, you’re information reaches the desk of a negotiator, but it will take another couple of months for them to examine your financial information and inform you if you as to whether or not you qualified for a loan modification. A letter reaches your mail box from the mortgage company, and sadly, you were denied. Your home will be auctioned, unless you can pay everything you owe up to that point. Huh? If you couldn’t pay for one month, how do they expect you to pay all the payments that are in arrears?

Next comes the letter which states your foreclosure/auction date. You heart drops. The reality of losing your home has set it. There is absolutely nothing you can do to stop. You may even frantically, try to get an attorney involved but it’s too late, because your trusted the mortgage company you thought would come through, did not. “Why would they sell the home for so much less, when I am here, ready to keep my home” you think to yourself. “All I need is a more affordable monthly payment that would account for the recent changes in my life” (death in the family, layoff, etc.) This may be your story. Or perhaps you chose to short sale your home or agreed to sign over your deed in lieu of foreclosure.

Whatever, the situation, bottom line is you no longer own. Well I am here to tell you, there is life after losing your home. After it’s all over, you realize that life is much less stressful. No more stacks of letters from the mortgage company’s attorneys. No sleepless nights wondering where you and your family will sleep. There are plenty of rentals available in this market to choose from. You can rent for a few years and buy again. You could also choose to buy a cash home. Many folks are taking advantage of the low prices. Why not own mortgage free. Whichever route you chose, just know its going to be Okay.

Gloria Walters | Tampa REALTOR
Bridging the Gap Between Buyers and Sellers
772-359-7543 (direct)
813-200-8708 (fax)
gwalters83@gmail.com