No Amazement for Why a Home went into Foreclosure in RI

 No Amazement for Why a Home went into Foreclosure in RI

 

You have to wonder about all the nice folks who lose their homes of no fault of their own but due to a short sale gone

Foreclosure- no surprise

Can you afford this Home…Really?!

awry, loss of a job, hardship, divorce, medical issues, etc. BUT much of what I am seeing are drug houses, never paid their mortgage or homeowners who put amenities in that just put them over the money edge.

Why would someone put in a 6 person hot tub just before losing their home?  All the electrical work done for this item to soothe their bods…I know it cost upwards of $10,000 for this item of hot tub luxury!…oh and i forgot to mention the pool put in and the large RV that is no longer in the driveway that was repossessed…What are buyers thinking?!

 

So this is probably another example of someone who should not have qualified for this new construction home loan.

 

Yet they did.  So when people tell me the lending guidelines are too tight, I say I do not think so.  I do not want to experience a real estate market like this again in my career(do not want those sparkly red shoes to lose their luster!) and we still have a ways to go.   In the long run better understood credit control works right for the economy and for buyers who can actually pay a mortgage.  It will make RI real estate healthy in the long run.

 

Yes, it doesn’t work well for everyone but it does for me, I do not want to hear about my buyers going into foreclosure down the road…give me sound buyers and… Sometimes there is no Amazement Why a Home went into Foreclosure in RI.

 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Ginny Lacey Gorman is your go to North Kingstown agent for homes in North Kingstown RI and beyond…knowing the geographic area, schools, happenings,important tidbits of information and businesses well.

As North Kingstown short sale agents, if you are having trouble paying your mortgage contact Ginny to help you through the short sale process successfully. 

  Waterfront, oceanfront, luxury and coastal RI real estate are her specialty but all of RI is her backyard.  When you are in need of a good professional for your buying and selling needs and an internet savvy marketer who sells RI houses in this real estate market – call Ginny at 401.529.7849.

Comments

  1. says

    Hi Ginny, I understand what you mean. People often easily conclude that rules are too tight, but, in the long run they are these rules to benefit everyone involved. You definitely know what to do to avoid these “foreclosure amazement” scenarios. At the end of the day its mostly about hiring the right people.

    Petra Norris
    Lakeland Fl Short Sale Agents

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