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What is a Distressed Property

  • Property on which the mortgages total an amount higher than the current value and an owner must sell.
  • Property that is or will soon be in some stage of the foreclosure process.
  • Property owned by a person who is experiencing a period of financial instability.
  • Property that is in Poor Condition.

If you have found yourself falling behind on your mortgage payments. You are not alone. Many homeowners are in a similar situation.

Here are some common causes we have seen to force a family into foreclosure.

  1. Payment increase or Mortgage Adjustment
  2. Loss of Job
  3. Business Failure
  4. Damage to Property (Lack of insurance and inability to make repairs)
  5. Death of a Spouse
  6. Death of Family Members
  7. Severe and/or Prolonged Illness
  8. Inheritance (Beneficiary unable to cover bills & maintenance of property)
  9. Divorce
  10. Separation
  11. Relocation (Inability to support two households)
  12. Military Service (Extended active duty)
  13. Insurance or Tax Increase
  14. Reduced Income
  15. Too Much Debt
  16. Incarceration
  17. Property Value Decline (Short on a loan)
  18. Stress of Financial Hardship

*    It is estimated that most American families can only maintain their current living expenses for 60 days or less when income is           interrupted for any reason.

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