We have been tracking the number of sheriff sale peoperties for the last few years, and it is easy to notice that the list is getting bigger. More people are losing jobs, finding that they don't have enough to pay their bills, and are losing their houses. I was at a short sale listing on mine that is in progress. The realtor who came to do a broker price opinion of value for the lender told me that last year she woul get 4 request a month from lenders to do these BPO's. Now she is getting 8 to 12 per week. I could go on but it seems like 2010 may be the worst year in Oklahoma City for people losing their homes. How do you avoid this. Let me give you a few bullet points.

Don't bury your head in the sand thinking that somehow it will go away. It won't.

Don't wait until the last minute to save yourself from foreclosure when you get the sheriff sale notice. It is normally too late.

Don't call  you friend or relative who is a Realtor to help you. You don't need an friend, you need an experienced advocate. Experience counts.

Don't think you have no options, you do. A good short sale Realtor will advise you of any alternative available.

Finally, don't partial pay your back due balance. it is a dirty little secret that none of that money gets credited to your principle or interest.

If you are 60 days or more late, call us for a consultation. It cost you nothing, and what we can do to help you can save your financial future. 

Joe Pryor & Charlene Humphreys, Distressed Property experts

joe@joepryor.com

chumphreys2@cox.net