In recent news Realtytrac has come under fire for overstating the number of foreclosures. For example, last year Realtytrac based in Irvine CA was said to have reported the number of Colorado foreclosures to be close to 55,000 homeowners. In fact, housing divisions are reporting that the number is more like 29,000. Obviously this would create some confusion as the number of foreclosures reported by Realtytrac was almost twice what was actually filed according to government officials in Colorado.

In the same article a comment was made referencing that this number was misleading because it references the number of homeowners going into default rather than losing their homes due to Foreclosure.

I feel the need to say the number of foreclosures is disgustingly high regardless of whether the family went fully through the Foreclosure process or not. Many of these homeowners sought out help through loss mitigation companies, short sale companies, investors and some actually sold their homes. In 3 of the previous options the homeowner IS losing their home. Just because they were proactive in avoiding that actual Foreclosure filing does not mean we DON’T have a problem. The number of Foreclosure filings have skyrocketed and that can’t be hidden and shouldn’t be. There are more and more homeowners realizing that even if they can’t afford to stay in their homes there are other options that will allow them to prevent that inevitable Foreclosure filing.

I was disappointed at the representation in the article I read simply because I have helped the majority of my clients prevent Foreclosure and save their home or prevent Foreclosure and sell their home. These clients are still American Families that are having difficulties. This is the number that the government should be using. Americans are learning and educating themselves on the prevention of Foreclosure. Just because they are creative and intelligent to seek out help doesn’t mean they aren’t families that lost their home.

If you are facing Foreclosure don’t sit back and wait for the locks. Be proactive! No matter what your situation is you ALWAYS have options. Not all options are great but you should educate yourself on not only your state laws but your Foreclosure options as well. Each option has it’s own pros and cons. Nonetheless you owe it to yourself and your family to find out what those options are. Contact us today to learn more about your options.
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