I spent many hours today on the phone working with banks on getting short sales in escrow closed. It is a time consuming process, which requires careful documentation, a call log of names, dates and times, and time, paperwork and procedures as well as knowledge of the laws, regulations and negotiators.
As I was sitting on hold for a major bank negotiator i was pondering thoughts in my head, that i often find myself thinking about at 2am. Are homeowners so afraid of the loan modification or short sale process that they wait to long to get help? Would the market be better and economy if the general public felt "safe" in dealing with their loan problems before it became obvious they were going down? If the general public truly understood short sales, vs bank owned vs loan mods, would it help stabilize the economy?
I have helped several people who were in the process of losing their home or who just walked away and decided to rent and I am amazed at how many probably could have saved their home. Circumstances such as a death in the family, or husband losing a job or terminal illness, and these people did not understand they could get help. It saddened me to realize there are probably many more people who are afraid to go through the bank process and do not know where to trun for help, even if they wanted it.
Are Americans in fear of "The American Dream" now? What our family once fought so hard for, are we now seeing a turn?
LORI BOWERS
http://www.desertareahousingmarket.com
The Lori Bowers Group
A boutique Real Estate Office, with a full service team to serve all your Real Estate Needs
La Quinta, Palm Desert, Indio, Rancho Mirage, Coachella , Indian Wells and the surrounding Palm Springs Area.
78065 Main St., Suite 107
Old Town La Quinta
La Quinta, CA 92253
Phone: (760)777-8788 • Fax: (760)771-5355
