A woman arrived home from work only to find the doors to her home locked last week.  Not unusual, right?  I mean, we go home every day and expect the doors to be locked, right?  That means our home and belongings are safe, right?  But we usually expect the doors to open when we put our keys in the locks.

Unfortunately for this poor woman, the locks had been changed on all the doors.

So she called a real estate agent who had been keeping in touch by sending her mortgage crisis information.  Upon assessing the situation, the agent realized that this woman was in a very bad situation indeed.  After months and months of ignoring the calls and the letters from the bank, they finally did what was inevitable.  They essentially repossessed the house.

Imagine what that poor woman was feeling at that moment

• embarrasment at the situation;
• fear of what would happen now;
• confusion as to how her life got to this point;
• despair because she can see no way out.

This doesn't have to be you!  There are ways to prevent this situation.

1. When you get behind on your payments, contact your bank! Contrary to what you may think, the bank does not want to foreclose on your house. They are willing to work with you if you give them the opportunity to do so.

2. If you feel there is no way you can keep making your mortgage payments, contact a mortgage lender.  They can help you assess your ability to refinance your loan.  If you can refinance, the lender can often configure your payments to be lower than what you've been paying.

3. If you cannot refinance, contact a licensed real estate agent to help you assess if you can sell it.  It is far better to sell the home and keep yourself from unnecessary stress than to struggle when you don't have to.

In Louisville, there are several great realtors and mortgage lenders who can assist you if you find yourself in this situation.  Don't despair - you can avoid this situation!

Are you in a foreclosure or pre-foreclosure situation? We want you to know that there are options available.  You don't have to lose your home.  Your credit score doesn't have to suffer.  We're here to help, offering real solutions for people in real situations.

~Kristopher Wissing
  SidCo Property Solutions - www.sidcollc.com
  Helping people get back on track - one family at a time!