The main culprits are skyrocketing ARMs and rising interest rates on subprime loans
Orange, CA (PRWEB) April 26, 2007
Gavin Fenske, president of Great Financial Real Estate (http://www.greatfinancialre.com), wants homeowners to know that as bad as things can get in the real estate market, and with current news headlines indicating a major foreclosure crisis, anyone facing this horrific fate can be saved.
"In February, alone, of 2007, statistics show there were over 149,000 foreclosures, up 47% from a year ago with Florida, Nevada, Texas, Ohio, California and Colorado accounting for half the nation's filings" states Fenske. "The main culprits are skyrocketing ARMs and rising interest rates on subprime loans," he says. "Millions of homeowners are losing not just their biggest investment, but their right to the American dream."
Despite the daily stories in the media about one homeowner after another becoming foreclosure victims, Gavin has the medicine for an ailing real estate market. "With the housing market being as depressed as it's been in recent months, and more foreclosures to come, there are ways that realtors and lenders can work together to benefit everyone," he says. "Moreover, being a foreclosure victim can ruin homeowners' credit for the next 7-10 years, making it nearly impossible to get another loan for a house. So there is some vested interest in helping them survive difficult financial times relatively unscathed."
The bottom line, Gavin says, is there are very attractive options available to those who want to avoid becoming a casualty of foreclosures. It takes a lot of work from dedicated realtors but it can be done. "It's a very stressful time for clients and to be able to give them a parachute, as opposed to them being trapped in a financial freefall, can mean the difference between a decade of economic ruin or salvaging the American Dream."
For further information on Great Financial Real Estate, http://www.greatfinancialre.com or to schedule an interview with Gavin Fenske please contact calling (714) 875-2253.
About Great Financial Real Estate:
Great Financial Real Estate (http://www.greatfinancialre.com) is based in Orange, CA. Its president, Gavin Fenske, is an experienced veteran and has a distinguished track record, making him frequently sought out by members of the media for his expertise in the mortgage and residential real estate arena. Great Financial Real Estate can be contacted by calling (714) 875-2253.
PRIME L.A. Public Relations
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