Helena Talbot’s blog – Facing Foreclosure? You Have Options

While the market is on its way up, foreclosures are still lurking in many communities across the nation. If you are one of the many homeowners struggling financially and confronting the possibility of a foreclosure, however, there are viable options you can pursue before relinquishing your home.

Many banks, for example, offer loan modifications or other programs that can give homeowners a little more breathing room and a chance to get back on their feet.

An experienced, professional real estate agent or counselors certified by the Department of Housing and Urban Development (HUD) can help you explore available options, including:

Forbearance. A forbearance is a temporary suspension of payments sometimes offered if a borrower has lost a job but has a new one starting soon – or because medical bills or another crisis situation has caused a temporary cash shortage.

Repayment plan. Repayment plans offer a scheduled blueprint for making up missed payments over time.

Loan modification. A loan modification is a change in loan terms for a limited time, as when a subprime interest rate has jumped considerably.

Financially distressed homeowners should be extremely wary of anyone purporting to offer a “quick-fix” solution. According to the Federal Trade Commission, steer clear of anyone who:

  • Guarantees to stop the foreclosure process
  • Collects upfront fees
  • Asks to be paid by wire or cashier’s check
  • Tells you not to contact your lender or lawyer
  • Wants you to make mortgage payments directly to him/her
  • Suggests you sign over or “share” your property deed or title
  • Proposes a lease-and-buyback arrangement
  • Offers to fill out paperwork for you
  • Pressures you to sign documents you do not fully understand

Unfortunately, there is a growing contingent of foreclosure scam artists preying on vulnerable homeowners.  Financially distressed homeowners should consult a real estate professional who can point them in the right direction and offer sound guidance on the potential options that can save their home from foreclosure.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

I have over 25 years experience in the real estate industry.  As a Broker/Owner with Exit Realty Talbot and Company, I bring special tools and solutions that enable me to exceed the expectations of my clientele.  If you are considering listing your property in Loudoun County or the nearby areas, ask me about our latest internet marketing systems.  I would appreciate the opportunity to earn your business.  I am experienced in listing and selling short sales.  For information on the short sale process, please visit  www.LoudounShortSaleSolutions.com.

For a free market analysis on the value of your home, please visit http://www.LoudounHomeValues.com

My past awards and designations include – 2003 President of the Dulles Association of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the year 2000 Dulles Area Assoc of Realtors,  Top Producer awards from both the Dulles Area Association and the Northern Virginia Association of Realtors.  I am a member of the Top 5 in Real Estate Network.

I have lived in Loudoun County since 1979.  I am married with two grown children and two grandchildren.  My son in law is my business partner in real estate.  I love to jog in the mornings and spend time relaxing on my Trawler during the summer months.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William  Counties.  Our local neighborhoods includeLeesburgAshburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.                        Cell 703.727.9885    Office 703.574.3800

Free iPhone/Android Mobile App to search Northern Virginia real estate.  2 easy ways to get the App:  Text “Exit9” to 87778 or enter http://87778.mobi/Exit9 into your browser.

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