Your Neighbor’s Foreclosure Will Cost You Thousands Of Dollars

Is your neighbor in foreclosure? Chances are that your neighbor or someone in your immediate area is having problems paying their mortgage, will be having problems paying their mortgage in the near future or is already in foreclosure. With so many people having financial difficulties these days you need to be in close contact with your Realtor.  If your neighbor gets foreclosed on, the value of your property will plummet.

Why should you care if you are not moving any time soon you might be asking yourself.  Well, interest rates are lower than they have been in over 40 years. Let’s say you now want to take advantage of these great low rates but your neighbor was just foreclosed on; due to your neighbor’s foreclosure your home value has decreased substantially and now you can’t refinance so you will keep paying higher mortgage payments. Essentially your neighbor just cost you thousands of dollars.  If you knew that your neighbor was having problems ahead of time, you could have put them in touch with your Realtor who could have possibly helped them keep their home and if they couldn’t keep their home, they could have sold it before it was foreclosed on and ultimately hurting themselves, you and all of your neighbors.  Do yourself a favor and keep in touch with your neighbors.

Did you also know that if the value of your property goes down you may be paying higher real estate taxes than you should be? Well, if you were in touch with your Realtor more often, you would know these types of things.

Realtors are not just valuable when you are thinking of buying or selling. Realtors have a wealth of useful information that can help you save a lot of money or make you more money.

When was the last time you talked with your Realtor? Do you remember who your Realtor was? Do you have a Realtor? Don’t wait until the last minute to find a Realtor. I am always available to my past clients, friends and family for any real estate matter or question.  That’s what Realtors are for.

Renee Porsia is an expert real estate broker with RE/MAX Action. If you would like to read more articles by Renee or are in need of a Realtor, visit her website at http://www.reneeporsia.com

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2 thoughts on “Your Neighbor’s Foreclosure Will Cost You Thousands Of Dollars

  1. Darien says:

    Ms Porcia, Thank you for this valuable information. I will be calling you soon to talk about some of the items you pointed out in your article.

    Like

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