Posted in Information Article

Information Article: Foreclosure Lawyer Cleveland

O

ne of the saddest things in our area is going by foreclosed homes.  I can just imagine the heartbreak when the family closes the door behind them realizing a lot of dreams vanished. I often wonder if they really tried as hard as they could, not just financially, but seeking other options such as calling a foreclosure attorney, maybe the outcome could have been different.  We have good friends whose house went into foreclosure.  The bank realized their house was mortgaged for way too much for the area and lowered the amount owed on their mortgage by a substantial amount.  This is, of course, in the minority, yet, if banks did make adjustments such as this, would it save them money in the long run, rather then letting homes sit, unoccupied for possibly even years?  

It should be advised, if homeowners get themselves into a situation of not being able to pay their mortgage payment, that they first get counsel from Foreclosure Lawyer Cleveland.   What can it hurt?  What if the bank or mortgage company is willing to work out an arrangement with them that can keep them in the home?  What if there are other options with your mortgage or loan modifications?

And, if you are looking into buying a foreclosed home, a short sale or any going through any type of real estate transaction, it is absolutely imperative that legal assistance is sought.  It may save you from the heartache of losing it in the future.

Enhanced by Zemanta

Author:

Beloved KEPT Child of Jesus stumbling by faith ~ Married 30 years ~ Blessed Mama of 10 beside me & 2 at Jesus' feet ~ "Retired" homeschool mama of 22 years ~ Writer * Blogger * Reviewer ~

One thought on “Information Article: Foreclosure Lawyer Cleveland

  1. Sadly I encounter many of the victims of foreclosure on the streets with their families. Sometimes the ‘man of the house’ has ‘done a runner’ trying to evade responsibility for the foreclosure and leaving the woman to both be a mother to their children and find a way out of the tragedy. Most have no money to fight the foreclosure, having been enticed to take out a home loan to prove themselves ‘good parents’ when their income was far below that needed to service that loan plus interest rate rises. I find it a tragedy that so many fail to see that one can be a responsible parent even if one never owns one’s home, in some cases it’s far better to rent and be managing, than to be a home owner and be floundering. I know I’ve never owned property, I’ve raised three children on my own, and couldn’t afford to live where I do now if I had bought a home, the only ones I could conceivably even hope to own are way out in the sticks, on land that’s just been released for home owner’s.
    My brother until recently was a mortgage broker, and yet he’s never owned his homes either, preferring to rent than enter the risky home ownership cycle. I remember one night recently, whilst I was sitting with a young family who had lost everything because they could no longer afford the payments on their home, their young son suddenly broke the silence with the words ” I’m glad we don’t have that house anymore”… His parents sat in stunned silence so I asked him why that was and his response floored his parents “Well, we never got to be together, you (pointing at his parents) were always working and when you were home you were always yelling at each other and at us…I LIKE it now that its different, you’re here with us”…the phrase out of the mouths of babes comes to mind.
    You see, with this family (and many others), they’d been managing quite well renting for years, but fell victim to the thinking that one must own one’s home or one isn’t really looking after their family. They were given a first home buyer bonus and on the strength of that alone got a loan (where any responsible banker would have realised their income just wasn’t enough to service a loan of that size, especially as their ONLY way of making the necessary deposit was because of a grant and a small loan). The inevitable interest rate rise within months of them moving in sent them in a spiral of chasing payments, and penalties when payments were late, until finally the bank had had enough and foreclosed. I commend this man for staying with his family, many don’t, fleeing and leaving their spouse to handle the mess. Now this family’s credit rating makes it next to impossible for them to secure a rental, even though prior to them buying a house they were highly ranked on the list of responsible renters.
    I would encourage people to stop the thinking that paying rent is throwing away money, buying property is not always the way to go, especially if one’s income is borderline. One can get rental assistance if one needs it, but one cannot get financial help if one is having problems meeting mortgage payments.

    God bless.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s