While going through my database last night I came across some homeowners who recently lost their home to foreclosure.  Frustration immediately hits me and I question why did they not try to sell the home before this happened?  How can I let people know there is a more dignified solution to a mortgage crisis than walking away and ultimately a foreclosure?  But when you have your mortgage lender breathing down your neck, I have to understand sometimes it just seems easier to just walk away. 

But that is a temporary solution.  Depending upon the type of mortgage a homeowner has, that balance on the mortgage may follow you.  The home is no longer yours but the note you promised to pay still is.  And the foreclosure is a public record so this can show up on job applications or disqualify you from a security clearance if applying for a government job later in life.  Of course, I am neither a tax accountant nor an attorney so check these matters out for yourself and the laws of your particular state. 

When loan modifications fail (and they fail quite often) take advantage of programs offered, particularly a short sale.  Why would you not?  You can even quite possibly get PAID to sell your home.  Yep, another program from the government pays homeowners up to $3000 for a successful short sale.  Not all homeowners will qualify but that is really just the icing on the cake.  Even without this “move money” the benefits of a short sale far outweigh any other option when facing a mortgage crisis. 

Now how do I let more homeowners know about the options available? I guess I will just keep trying to spread the word one homeowner at a time.