What is Your Stress Style?

Like the difference between an introvert and an extrovert, we all react differently to stress.  Some of us get energized and spring into action, some adopt the head in the sand, hope it goes away position.  Don’t judge yourself, it is just the first impulse.  You can still decide to do something different.

You know that stack of unopened letters from the bank?  One of them may contain a way to get back on track and avoid a foreclosure.  Ever since the government put the banks on notice with the Robo Signing $24 billion judgement, banks have been active in offering alternatives to foreclosure.  They include interest reduction, lowering payments, short sale cash incentives and, in rare instances, principal reductions.

What you don’t know CAN hurt you.

I know it is hard, but there may be hope yet.  Wouldn’t you feel awful if your found out later that you did have a way out?  So, pull your head out of the sand and grab your letter opener and find out what options may be waiting.

Here are some examples of things that have gone out in the mail and unfortunately have been ignored by stressed out homeowners….

  • B of A selected 200,000 delinquent homeowners for a principal reduction of up to $150,000 a piece.  They sent the letters registered mail.
  • Chase is offering cash incentives of anywhere from $2,500 to $45,000 to do a short sale.  They selected 57,000 homeowners and sent the notice out in the mail.
  • In the last 6 months banks have been on the move and coming up with loan modification and short sale programs and they are mostly notifying their customers through the mail.

So go ahead…open them up.

If there is nothing in the mail, call your lender and ask what other solutions they have. New ones may have been added since the last time you spoke to them.  Good luck and call me if I can be of help.

Tip:  Ask a close friend(s) over, hand them a letter opener and make a party of it.  Whoever finds an incentive offer first, gets the door prize!

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