2009 Foreclosure Outlook

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More than half of all respondents to a recent national poll, conducted by OmniTel, are concerned they or someone
they know will face foreclosure in the coming year. Learn how to protect yourself with a short sale.

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2009 Foreclosure Outlook

  1. 1. 2009 Foreclosure Outlook Learn How to Protect Yourself More than half of all respondents to a recent national poll, conducted by OmniTel, are concerned they or someone they know will face foreclosure in the coming year. As interest rates continue to rise and properties continue to drop in value, many families are finding themselves in a place where the value of their home is worth less than their mort- gage, On top of this problem, many home owner’s mortgage payments continue to rise, leaving many without the means to pay them, and facing foreclosure. If you are in this situation, don’t give up hope yet; there are still some alternatives that can help you avoid foreclosure, including the option of a short sale. “Unfortunately, there are scammers who are more than happy to take advantage of someone who is in need of help. If you are upside down in your mortgage and are considering a short sale, do a bit of research before settling on a representative. This will save you from the potential of making a difficult situation disastrous.” says a representative from www.sellhomeowner.com. One good place to start your research is at RE Acquisitions’ blog, a short sale specialist company that helps stop foreclosure in Portland, Oregon. RE Acquisitions has a variety of foreclosure prevention information, including de- tailed information on short sales, loan modifications, and foreclosure prevention. Other findings from the survey include the following: • 23% of people said they plan to buy a home in the next five years • 18.9% said they plan to try to use the government's program to help prevent foreclosures. • 21% of those with a mortgage had contacted a lender within the last year to discuss restructuring their loans. • 72% had reduced their spending on discretionary purchases, personal items, personal care and energy in the last year to pay housing costs. For additional information on short sales, or preventing foreclosure, visit http://www.SellHomeOwner.com. Short Sale Scams Boom In Recession Page 1 of 1 RE Acquisitions www.SellHomeOwner.com

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