stop foreclosure - foreclosure help - avoid foreclosure

Despite Many Foreclosures, Wake County Homeowners Do Have Options

 

Wake County North Carolina, home to the states capital of Raleigh as well as a population of over 800,000 people, continues to reel from the ongoing foreclosure epidemic. It seems these days anyone can go to the rear of the Wake County Courthouse and find listings of what is for sale. Some 1,400 homes so far this year have made it to the auction block.

This will continue to add the supply of more moderately priced homes, and in certain areas it's going to cause a lowering of prices. With many of those variable-rate mortgages still being adjusted upward, foreclosures are continuing to the surge. Last year for example foreclosure filings In Wake, Durham, Johnston and Orange counties totaled 6,451 -- up 96 percent from 2001 -- a direct result of loose lending restrictions and variable-rate mortgages.

One local real estate expert, Shirish Shevade, a loss mitigation specialist offered his view of the current real estate market in Wake County. He states that having researched the climate of foreclosures in this county, it appears for now to be moderate.

Mr. Shevade also stated the root cause for the foreclosure problem in the county, as it is elsewhere in the country, is falling property values, unemployment, and residential construction slow down. Also adjustable rate mortgages (ARM's) are now adjusting. He says there is no typical residence in foreclosure. All levels of society have been affected.

Is there any way to stop foreclosure in Wake County? Mr. Shevade states that although the state has done nothing significant to alleviate the situation some local Real Estate Brokers are offering lower interest loans with the caveat being that to be eligible the applicant must have good credit, show proof of income, and demonstrate the ability to make the new payments.

Losing a home is tough, but there are some things you can do to that may work to stop your foreclosure in Wake County:

  •  Don't ignore the problem. Call your lender at the first sign of trouble

  •  Open your mail. Don't ignore any correspondence from your lender.

  •  Know your mortgage rights.

  •  Understand foreclosure prevention

  •  Prioritize your spending.

  •  Use any assets that you can sell for cash to help reinstate your loan

  •  Don't lose your house to foreclosure recovery scams. Never sign a legal document without reading and understanding all the terms and getting professional advice.

Victim or Victor - the Choice is Yours

You could lose everything or you could come out of this with more than you ever thought possible. It all rides on your decision to contact us. The sooner you do that, the better the outcome.

Get started and stop foreclosure now by answering a few questions for us .

To Talk to Someone Now Call:  1-888-I-SAVE-80
Live operator available 24/7 (1-888-472-8380)

There's no obligation. In fact the initial consultation is FREE. And that may be all you'll need to stop the foreclosure for good.

Learn what you can do to avoid or stop foreclosure in Alaska.