Did You Know?
When a lender initiates a foreclosure there are often multiple foreclosure filings for the same property? The average number of filings by a lender when attempting to collect a mortgage debt is actually 3 and the number can easily climb into double digits!Why is that? Well, every time something changes – such as the actual foreclosure sale date – they file a notice again.
So, next time you see a large headline that states: Foreclosure Filings Up, remember that it’s a misleading term. For example, 400 foreclosure filings probably translates to 50 or less actual foreclosures.
If you’ve received a notice of default and are in danger of foreclosure call, email or text me and I can talk you through some important options. I’d love to help you prevent foreclosure.
Banks shouldn’t, and don’t want to be, in the business of selling homes!
No comments:
Post a Comment