Foreclosure Freeze: What Does it Mean for Homeowners?
You may have heard that Bank of America, Ally Financial (formerly GMAC), and JPMorgan Chase have all temporarily suspended foreclosure proceedings to investigate possible problems with mortgage documentation. Bank of America froze foreclosures in all 50 states, but recently announced they will move forward in the 23 states (including New Jersey) that resolve foreclosures through their judicial systems. Ally and Chase have continued to halt proceedings in these states.
For homeowners having problems making mortgage payments, this may seem like tremendous opportunity to stay in their homes. The unfortunate reality is that the foreclosure process will start again, and for those facing foreclosure, the real opportunity lies in the extra time to find better alternatives. The first step to take during this opportunity is to contact an educated real estate agent as soon as possible to learn about foreclosure alternatives, including short sales.
For homeowners who owe more on their homes than what they’re worth and don’t what to do, I can help provide options and hope during this time of uncertainty. Together, we can take a proactive approach to a situation millions of Americans are facing everyday. We can use this extra time for developing a strategy to get past this time of distress, and move toward a brighter, more stable future.
Contact
Kate Cerminara, CDPE today to explore your options at
(856) 397-0618! You can also visit my website at
www.MyAgentKate.com to search for homes for sale in Moorestown, NJ and all of Burlington, Camden and Gloucester counties.
Kate
"Opening New Doors In People's Lives"