Fighting Foreclosures in the Orange County Real Estate Market

Posted on March 6, 2008. Filed under: Orange County Real Estate |

We all know that the Orange County real estate market is suffering right now.  Home prices have dropped (which is great news for buyers) and home sales in general are sluggish.  All of this slow activity along with adjustable mortgages that are now renewing are leaving lots of Orange County homeowners facing foreclosure.

 

If you are one of the thousands of people facing a foreclosure, don’t just give up.  Fight that foreclosure – there are plenty of things you can do right now to avoid losing your home to the bank.  You might be suprised to find out that you can negotiate with your bank.  Most banks will be more then happy to work with you in order to avoid foreclosure.  And if you really just can’t afford the mortgage at all anymore, you can always sell the home and at least recoup some of your investment instead of handing over your property to the bank.

 

Check out this video of Donald Trump.  He has some great advice on how you can fight to keep your house.  As he points out, the bank really doesn’t want your home – it’s a hassle for them to sell it and recoup their money.  So do yourself a favor, and really try to find some middle ground so that you don’t have to loose the place you call home.

There were 2400 foreclosures last month in the Orange County real estate market.  None of us want to see this number rise any further.  So if you are facing foreclosure, get help now!  If you’re not sure what to do or where to start, shoot me an email at Angie@askangie.com.

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One Response to “Fighting Foreclosures in the Orange County Real Estate Market”

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Good points, the banks don’t really want to foreclose. Unfortunately, too few homeowners are really aware of the various options they have to save their homes. Some of them are quite complicated, but others just involve a call to the bank and filling out some forms. If a phone call, a few hours of gathering information, and sending a fax can stop foreclosure, that’s a pretty good bargain. Especially when compared to losing a home and having to deal with the credit consequences of foreclosure for years after the fact.


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    Orange County, CA Real Estate for hip first-time buyers and investors. Plus, fun things to know and do in OC.

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