Foreclosures Are Creating Real Headaches in Valencia County New Mexico.
Valencia County, with a population was 70,389, is located in the central part of New Mexico. Albeit small in size Valencia County has had a lions share of foreclosures. Currently there are 1692 properties in active foreclosure and considering there are only 17,350 families residing in the county the numbers are out of proportion with the average number nationwide.
Local real estate experts Jerry Simmons and Mary Connors, stop foreclosure experts in Valencia County and co-owners of JerMar Property Solutions, LLC, offered a "birds-eye view" analysis of the real estate market in Valencia County. They both believe the foreclosure rate had lagged behind the rest of the nation, but unfortunately it is now catching up. In the last year for instance, the foreclosure rate has tripled.
Both experts agree that falling property values coupled with the loss of jobs in the area (layoffs by some of the larger employers such as Intel) has caused this problem. Also the resetting of adjustable rate mortgages (ARM's) are catching homeowners with no income to make all their payments.
Both Jerry and Mary also believed the residents of the county have yet seen the worse. Jerry and Mary feel that with foreclosures in the county just recently beginning to increase, and will continue to increase over the next year to two years that the worst is yet to come. Point in case is report stating that the increase over the last year was 300%. Overall foreclosure filings jumped from just under 400 last year to over 1300 this year.
Is there governmental involvement concerned with offering any relief? Both experts do not know of anything the state is currently doing to help. They however are working to help the homeowner save their home first and then when all else fails, they will do everything they can to sell the property prior to foreclosure. We are assembling a team of realtors, mortgage brokers, lender mediators and attorneys to help homeowners with any issues they may face in this process.
With the recent meltdown of the subprime mortgage industry and homeowner's up-side down loan-to-value (LTV's), refinance is almost a non-issue. Valencia County homeowners in jeopardy are trying to sell with a realtor, but being overleveraged makes it almost impossible to sell the home. JerMar Property Solutions wants to offer the homeowner loss mitigation as a viable option. They are working to help the homeowner save their home first and then when all else fails, they will do everything they can to sell the property prior to foreclosure. We are assembling a team of realtors, mortgage brokers, lender mediators and attorneys to help homeowners with any issues they may face in this process.
Much like the rest of the country, trying to stop foreclosure in Valencia County will be along uphill struggle at best for some, and an outright impossibility for others. The best advice JerMar Property Solutions can offer is for homeowners to take action as soon as they see the trouble starting. Wait too long and the next course of action may be seeing your auctioned away on the courthouse steps.
Victim or Victor - the Choice is YoursYou 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 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. |