Real Homeowner Stories: A Fresh Start

Real homeowners who faced foreclosure tell us their stories on how they got a fresh start with the help of a CDPE professional.

In Chicago and its suburbs, we find many homeowners facing a mortgage crisis.  They turn to friends, family and lawyers to advise them.

A family I know followed their friend’s example and hired a lawyer instead of speaking to a real estate foreclosure expert for free. They lost their home, paid the lawyer a few thousand dollars and now find it challenging to rent or buy home due to their foreclosure history.  If they had contacted me – I could have advised them, and helped them get a fresh start.

Homeowners facing foreclosure, you are not alone – I know you see this statement often but it’s only because we’re asking you to have hope. There are real people who have been in the same situation who have found solutions. Take, for example, Dan and Jessica M. of Grand Blanc Township, Michigan.

For Dan and Jessica, their dream of homeownership involved building their house on their own land. “We’ll build a house on half an acre,” said Dan.

To achieve their dream, they put themselves in a slightly challenging position by getting two adjustable rate mortgages, a common practice at the time. “The introductory rates were 8.5% and 11.5%, but our lender said, ‘Don’t worry, you can refinance after two years.’”

They were managing their payment commitment for a while, until… life happened. “We had our first child, and soon afterward, Jessica lost her job,” said Dan. “Soon, bills started piling up.”

They went on what they were told, believing they could refinance, and started living off their credit cards. “We hung on for the full two years hoping we could refinance at a lower interest rate, but when the time came, our lender said no because our home’s appreciation was too low.”

Dan and Jessica needed help. A friend referred them to a real estate agent who was a Certified Distressed Property Expert®. The agent answered their questions. Most importantly, the agent explained the difference between a foreclosure and a short sale. In a short sale, the bank agrees to allow the home to be sold for less than the amount due on the loan.

“With this information, we were able to decide that a short sale was our best option.”

It was a stressful process, but the agent helped them tremendously. She even kept a potential buyer from walking when the process was taking longer than expected. “Honestly, if it weren’t for her, the buyer would have left and we’d have been stuck.”

Dan and Jessica’s story is just one of many. I have a report entitled “From Foreclosure to Freedom” which tells other stories of real homeowners who faced foreclosure and found relief. Download the report, read the stories, and then contact me for a free, confidential consultation.

Teresa Ryan
Broker/Owner, CDPE
Ryan Hill Realty
15 W. Jefferson Ave.
Naperville, IL 60540
630-276-7575
TRyan@RyanHillRealty.com
www.RHRRescue.com
 
From Foreclosure to Freedom
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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