How To Avoid Foreclosure - You Must Have A Plan

Posted by Joe Manausa on Tuesday, July 8th, 2008 at 11:13am.

Are you in a situation that you never thought could happen to you? Are you worried about losing your property through bank foreclosure? If so, Joe Manausa Real Estate in Tallahassee has created resource videos that explain your options and some processes that might be right for you. If you are facing a possible foreclosure due to late payments on your mortgage, there are some things that you can do to get back in the good graces of the bank(s). You could:
  • Get current on your payments
  • Work-out a loan modification with the bank(s)
  • Ask the bank for forbearance (put the past-due payments as principal on the back-end of the loan)
  • Surrender your deed to the bank (Deed in lieu of foreclosure)
  • Sell your property and pay-off all liens
  • Sell your property through a "short sale"
So what does all this mean? Well, that is exactly why we have created the Foreclosure Resource Page on the Tallahassee Real Estate Web Site. Below are some of the selected videos from this excellent resource on foreclosure and bad-debt situations.

What Options Does A Homeowner Have When Faced With Foreclosure?

[youtube:http://www.youtube.com/watch?v=ftr5X9D2tus]

What is a Short Sale and How Does It Work?

[youtube:http://www.youtube.com/watch?v=mPheMSlbkF8]

Short Sale Secrets and Solutions

[youtube:http://www.youtube.com/watch?v=mcG8Gogp0d0]

The Top Five Reasons Why Short Sales Fail To Close

[youtube:http://www.youtube.com/watch?v=x1O1YRpAVXU]
As a reminder for those who subscribe to the Tallahassee Real Estate Blog by email, some embedded pictures and videos might not be appearing in your email and you might need to click the title header to go to your browser where all will be visible.   Keep checking out the Tallahassee Real Estate Blog every day for updates that include charts, graphs, and analysis of the Tallahassee real estate market. If you like this Article then please subscribe to my blog through a full RSS feed, or you can Subscribe with Bloglines . You will be able to stay informed about the happenings in the Tallahassee Real Estate Market. You can also subscribe to this blog and have it delivered by Email.   Joe Manausa is a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001. View Joe Manausa's profile on LinkedIn

Joe Manausa, MBA is a 26 year veteran of real estate brokerage in Tallahassee, Florida and has owned and managed his own company since 1992. He is a daily blogger with content that focuses on real estate analytics and providing his clients with a tactical advantage in today's challenging market.

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