(Newswire.net — December 2, 2013) Houston, TX — The foreclosure rate in Houston is still not slowing down even though home purchase are for the moment in the housing marketing are on the rise again ever so slightly. But there is a new solution to the problem and a way to avoid foreclosure with a new service being offered in Houston by people who understand what is required to stop the banks grab.
Statistics from Realty Trac state that Houston’s houses in foreclosure versus homes with a mortgage is “1 in 1917 foreclosure”. The home sales as indicated in the pie chart below that part of the home sales are not only new homes or listed homes but also foreclosed houses, purchased at auction.
The other interesting fact from all these foreclosure is that the very banks that loaned people the money to purchase these homes has become one of the largest institutions of real estate owned properties. It’s very much like the fox in the hen house scenario.
The Texas state’s 2013 statistics rating the top 3 counties with foreclosures that is above 10,000
County # of Foreclosures | # of Mortgages | Foreclosures per month
- Harris County 32,666 757,646 2722 / month
- Dallas County 17,238 398,984 1436 / month
- Tarrant County 12,078 348,225 1006 / month
These percentages are down only slightly from a year ago at this time, but don’t tell that to those homeowners that are being foreclosed on. Being one of the statistics is all that matters and it’s not a good place to be.
Where can you get help in Houston?
There is a group of investors and a realtor, whose website is www.EZHouseDeals.com that are helping people in pre-foreclosure to avoid losing their homes to the bank. They have a number of methods that they employ to stop foreclosures.
- One is they can do a Short Sale. This is negotiating the sale of your house with the bank at a discount and get a new mortgage to finance the house and allowing the mortgagee to release their obligation to the bank and avoid being foreclosed on.
- Second is they can get you caught up on payments and take over the note on your house.
- Third you can get help with a loan modification. Loan modifications run the greatest risk of not preventing the house from going back to the bank, yes foreclosed on. There are many scams out there with loan mods so this method has to be very carefully understood if you hire someone to do it for you.
There may be other means by which a person could avoid losing their homes to the banks and asking your bank or other realtors and investors could help you find a solution.
So the time to act is now and you should not delay in looking for a solution to avoiding foreclosure. Take one of the above steps and see what solutions you can find. What ever you do not just give up, take action and get help.
Fox News did a piece on how 3 words can help either stop or delay the foreclosure.
Denice McAdams
Realtor / Real Estate Investor
281-808-3333
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