Thursday, September 27, 2007

How to Avoid Foreclosure in Ludlow VT

If you have a mortgage on your Ludlow VT home, you have probably been paying close attention to the latest interest rates and are aware of the ongoing rise in the foreclosure rate across America.

What would you do if you were actually faced with the prospect of foreclosure? Would you have the information needed to make an informed decision on your financial future? Many homeowners think it can or will not happen to them, so they do not take the time to learn what the options are on the best way to move forward in a stressful situation such as foreclosure.

This article from FreddieMac.com outlines the terms associated with foreclosure and gives a good starting point with steps to take if you think you may soon be unable to pay your mortgage. Some of the topics covered in this helpful article:
- What to do if you can not pay your mortgage
- What if you can no longer afford to keep your home
- Beware of scam artists

I would like to add to the list of steps to take when facing foreclosure – contact an experienced Realtor! Along with a reputable lender, an experienced Realtor can help explain your options and guide you through the choice that is best for you.

For more information about Ludlow VT real estate, please call me today at 802-353-1983 or visit ISellVermontRealEstate.com, I would be happy to help you. You may also begin searching the MLS
here!

1 comment:

The Role of a Realtor said...

When going to buy or sell a home, your first step should be finding a honest and hard-working realtor.


When going to buy or sell a home, your first step should be finding an honest and hard-working realtor. You can find a real estate agent by keeping an eye out for advertisements, calling your local real estate broker, or through the internet.

The role of a real estate agent is to represent your best interests in a real estate transaction. They work off of a commission, normally 6% of the sales price of the home. In most cases, that commission is split equally between the realtor representing the buyer and the realtor representing the seller. For a person buying a home, the service of the real estate agent is free, because commission is paid by the seller. The buyer, however, is responsible for most of the closing costs. The closing costs will be explained to you by your realtor and will be on the documents you sign when you go to the title company. Closing costs can also be negotiated on during the contract process.

The real estate agent, through their broker, has access to all of the MLS (Multiple Listing Service) listed homes in your area of interest. If you are a home buyer, the realtor can provide you with information about homes for sale that meet your criteria. They will then bring you to these homes and let you inside to see them. If you are selling a home, the realtor will list your home in the MLS, post a "For Sale" sign in your yard, and hold open houses to attract buyers. Be wary of discount realtors that offer to list your home for a lower commission. Studies show that, in most cases, your home will stay on the market longer and you end up selling it for a lower price than what you intended.

A real estate transaction is a complicated process that involves many steps and is best done with the help of a trained, licensed professional. A realtor can save you the headache of dealing with the other party in the sale, getting together the contract, and submitting all the documents to the title company. So when you are ready to buy or sell a house, contact the local real estate agent.
I had come to know these kind of information through the realtor site which I have recently visited www.realestateinwoodstock.com

This site shows much useful information about the real estate business