Pacific Northwest Foreclosure and Short Sale Information

Just say the word foreclosure and it conjures all sorts of thoughts. Like the rest of the country, the Pacific Northwest real estate market is experiencing the sting of foreclosures too. Yes, homeowners living in the wonderful Pacific Northwest communities of Bellingham, Fairhaven, Ferndale, Sudden Valley, Blaine, Birch Bay, Anacortes, Mt. Vernon, and many other areas are seeing riders added to property for sale signs that say "foreclosure or REO". But why so many real estate owned properties (by banks) and foreclosures you ask? Stay tuned.

Reasons for Foreclosures in the Pacific Northwest Real Estate Market

There are many reasons for foreclosures. The biggest driver of foreclosures in the Pacific Northwest real estate market are the increasing interest rates of adjustable rate mortgages (ARM). This type of mortgage was very popular from 2001-2006. Other reasons for foreclosures include job loss, unexpected family illness and other catastrophic family crisis. If you find your Pacific Northwest home on the slippery slope headed to foreclosure the only way to find out if you can save your home or your credit is to take action and you must take action today!

Foreclosure Resources

Below are a number of resources aimed at helping you better understand all aspects of a foreclosure. These resources include:

• Understanding Loan Modifications
• Understanding Short Sales
• Understanding the Difference Between Short Sales and Foreclosures
  
• Tips for Avoiding Foreclosure
• Find Out if You Might be at Risk of Foreclosure
• Understanding the Timing of a Foreclosure
• Ten Myths About Short Sales/ Foreclosures
  
• Foreclosure/ Short Sale Glossary - Understand the Terminology
  
• Helpful Short Sale/Foreclosure Forms You Can Download
  

Protect Yourself Against Foreclosure Predators!

A word of caution. The Pacific Northwest real estate market has its share of dishonest people seeking to take advantage of consumers who are desperate for a quick fix. If you have missed a mortgage payment or are about to miss a payment, there are safe steps to help you guard against those who would seek to take advantage of you. While it might be difficult and even embarrassing, you must take action. Contact me, Susan Stecher, your expert Pacific Northwest Realtor today! I am dedicated to helping you seek out every solution available. But you must take action. Contact me today!