Monday, January 26, 2009

Fort Walton Beach Homeowners: Help To Save Home and Credit"


The best part of my day trumped any real estate sale I could ever make. I was chatting a friend, whom I'll call Jessica, in Fort Walton Beach Florida, when her cell phone rang. Jessica is a small business owner on the Emerald Coast, and I have bought her products for many years. Whenever I see her we talk about our lives and our businesses - one entrepreneur to another. Anyway, her phone rang and she looked at it, checking the caller id. "I am not answering that! It's a bill collector", she told me. Jessica proceeded to describe how her company's profits had dwindled in the past year, so that now her income was reduced to one-third of what it was. "People put off buying my product, they want until they absolutely have to or just stop altogether," she said. Jessica told me she had been getting behind in her credit card bills, and her mother had to pay her last three months mortgage payments. When creditors called, she would start into her sad story, "I am a single mother" and hope for any reprieve. She did not know how she was going to be able to make it. "I don't want to lose my house!" she admitted.
I advised Jessica to take immediate action and first call her mortgage lenders. They might be able to help with one of the following steps:
Modifying the mortgage terms for lower payments by extending the length of the loan
Reducing the mortgage interest rate
Temporarily suspending mortgage payments (forbearance)
Allowing missed payments to be paid back over time
Decreasing the total mortgage amount
Next, I told her to go online to Consumer Credit Counseling Service or the National Foundation for Credit Counseling. Groups like CCCS help people with debt management. They may be able to arrange a plan with creditors to lower monthly payments and save a dire financial spiral. Organizations that work with consumers to manage debt usually charge a small monthly fee, but only if there is capacity to pay. Suze Orman, the well-known financial guru, endorses such programs for those in need. The Consumer Credit Counseling Service of West Florida can be reached directly at (850) 314-9888 and is located at 913 N. Beal Pkwy, Ste H, Fort Walton Beach, FL 32547.
"Don't delay!" I told Jessica, "Take action right away. If you take these steps now, you may be able to save your home and your credit." She thanked me profusely, and said she had not known there was help available, and she would immediately call her lenders and the consumer credit counselors. If you are in a similar situation, don't deny it or wait to take action. If you wait, it might be too late to save your home, your credit and your well-being.

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email itswendy@rulnickrealty.com

Wendy Rulnick specializes in real estate sales, short sales, traditional sales on Emerald Coast of Florida: Destin Florida real estate, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Dune Allen, Blue Mountain Beach, Crestview, Freeport, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy Rulnick, Broker and Realtor, has been selling real estate for 20 years. She has won numerous awards, including the coveted ADDY for advertising design. Wendy is in the top ½ percent resale agents on the Emerald Coast, and was featured in Kiplinger Personal Finance Magazine as a short sale specialist.

Rights Reserved. *Fort Walton Beach Homeowners: Help To Save Home and Credit"* Contact Wendy Rulnick regarding Fort Walton Beach Florida real estate and vicinity. Copyright © 2009 by Wendy Rulnick. This site, Wendy Rulnick or Rulnick Realty, Inc. is not providing legal or tax advice. The information provided is for educational and informational purposes only. It is recommended that sellers considering a short sale should consult an independent legal and tax advisor for more information.

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