Herb's Portland Oregon Real Estate Blog your RE/MAX Agent

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The Red Letter Day

                                                                             The Red Letter Day

 

Have you received THE LETTER?

 

Perhaps you have or you are anticipating its arrival any day now. What letter am I talking about? 

 

It is the letter that you receive from your home mortgage lender. There notice to you that they have not received payment as normal. It is also notification of potential additional fees and consequences for not paying. Also known as the pre-foreclosure letter it can send a chill up and down your spine.

If you have or soon expect to receive the pre-foreclosure letter it most likely comes as no surprise to you. What actions could or should you take?  The last thing you want to do is sit and wait.

Believe it or not your lender did not want to send you that letter. Foreclosures are costly and time consuming and it often times makes more sense for towork out a solution if one is available.

Do you know what your options are? You do have options. As bleak as things may look now they will only look worse if you don't act. Give me a call today and let's take a look at how I can help.

                                            Call Herb at (503) 515 8889 for a No Nonsense Answer.

Don't Wait! Call or email Herb today. The longer you wait the harder it will be for me to help. Call now let's get the ball rolling.

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Comments

Herb - Good advice such a letter would be an indication that swift action would be necessary.
Posted by Jennifer Fivelsdal, Mid Hudson Valley (JFIVE HOMES REALTY LLC) about 1 year ago
First they need to open the letter and then call you Herb.  The problem is most folks are too afraid to open the letter!
Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta) about 1 year ago

They know the letter is coming.  The problem  is people hope for a miracle that is not going to happen.

Posted by Robert Machado, CPM MPM Sacramento Area Property Manager and Property Management (HomePointe Property Management, CRMC) about 1 year ago
Jennifer, Thanks for the comment. This is a new letter that I am sending with the initial notice of Pre-Foreclosure.
Posted by Downtown Portland Real Estate Broker~Herb Hamilton (RE/MAX Preferred Inc. Realtors) about 1 year ago

Jim,

Your right about that. I guess I could always print it on Red Paper and have it delivered like a telegram.

Posted by Downtown Portland Real Estate Broker~Herb Hamilton (RE/MAX Preferred Inc. Realtors) about 1 year ago

Robert,

That is one of the reasons why working this end of the market is so tough. Not only do you have to contend with that, but you also have to contend with those who totally admit defeat and take no action at all to help themselves.

Posted by Downtown Portland Real Estate Broker~Herb Hamilton (RE/MAX Preferred Inc. Realtors) about 1 year ago
Herb ~  As a local Oregon girl who works in the mortgage business, I can attest that most of them are too ashamed.  But as I spoke about in one of my posts.  Most of them have a story...a reason.  They just need to hear an understanding voice...
Posted by Sarah Eubanks ~ Preferred Oregon Loan Consultant & Notary Public (Hill Valley Financial Services) about 1 year ago
It is unfortunate that some people do not open the letter. Some people may not understand what the letter says, if they do not know much English. 
Posted by GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES (ReMax Centre Realtors) about 1 year ago

Sarah,

It is true. The unfortunate thing is that most will not hear the voice as they will have already made the decision that there is no hope for them.

Posted by Downtown Portland Real Estate Broker~Herb Hamilton (RE/MAX Preferred Inc. Realtors) about 1 year ago

Gita,

It is a growing problem that of reading comprehension. Lttle has been done in my oppinion about this problem over the last several years. The desire to try to be politicaly correct and allow all cultures to thrive with out insisting on simple benchmarks like speaking and reading comprehension of the English Language is a sad commentary on our failings as a society.

Posted by Downtown Portland Real Estate Broker~Herb Hamilton (RE/MAX Preferred Inc. Realtors) about 1 year ago
Herb, helping these folks out is difficult at best.  The embarrasment, the frustration and futility that they are feeling has got to be horrible.  Fortunately, in our neck of the woods, we don't have nearly as much of this as most areas, but our higher end market, 350K and above, is a tough sale currently.  Our homes at 160K and below are flying off the market in record time.
Posted by Chris Tesch College Station, Texas Real Estate (RE/MAX Bryan College Station) about 1 year ago

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