[b]Most people in the Real Estate business know that many families are losing their homes to foreclosure at an alarming rate. The experts predict that this trend will continue.
MORE THEN A MILLION HOMEOWNERS FALL INTO PRE-FORCLOSURE MONTHLY
(90 DAYS OR MORE BEHIND ON THEIR MORTGAGE PAYMENTS).
These homeowners usually find themselves in this unfortunate situation because of a temporary problem or setback. They may have been out of work, had a medical problem, possibly a divorce or some other expense that caused them to get behind.
For the most part, these are good people who want to stay in their homes and want to pay their mortgage. Many have even attempted to catch up on their last two or three mortgage payments, but their lender demands to get paid all of the delinquent payments, plus late fees, legal fees and filing fees and will not accept partial payments.
Lenders fail to realize that the homeowner really wants to work out the problem. The lenders stance is, “We are in the lending business not in the Debt Collection or Loss Mitigation Business.”
THIS CURRENT TREND IS NOT GOOD FOR AMERICA
This is a national dilemma that affects us all, impacting our communities in many ways.
It strains the economic fabric overall and especially those institutions we Investors rely on for our livelihood.
It can contribute to the burden on the welfare and health care system.
It can affect the family unit, our children’s well being and disrupts their education.
It weakens our nation when we should be the most alert and strongest.
As we confront the daily threats of this world, this “One nation, under GOD, indivisible….”
has to sleep with one eye open. By the grace of GOD we will surmount the problems that face us and continue to live by the universal credo that says we are to “ Love our neighbor as our self” and we should also attempt to HELP our neighbor as we would help our self.
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What can we do to help ?