Manassas, VA (PRWEB) July 10, 2011
Keith M. Elliott Jr. a Realtor® with RE/MAX Olympic Realty in Haymarket, Virginia, has been asked to include real life stories of everyday people who have been affected by negative home values, foreclosure, short sales, and tenant eviction in his upcoming book due out later this year.
'How the Real Estate Market Has Affected You'
"As a resident of Prince William County, I've seen first hand how difficult it is for families to buy homes and then tragically lose them years later to foreclosure," Elliott says, adding, "there are some amazing and courageous people out there who have suffered greatly, and I'm very interested in hearing their personal story."
Mr. Elliott writes, "While residents struggle to adapt to an ever changing economic and political landscape, they continue looking for employment and strive to take better care of their families. The daily pressures of trying to maintain a household in this depressed economy has hit many families very hard. When home owners fall behind a few payments on their home loan, the mortgage giants are reluctant to work out any type of arrangement that could easily prevent foreclosure. The institutions may claim they have numerous resources available to assist but in order to be eligible for their special program the home owner must qualify first. Endless requests for additional supporting documentation prolong the stressful process. The clock continues to tick ever closer to the formal Notice of Eviction."
Keith says, "Sometimes it seems like the mortgage companies and big banks actually prefer to foreclose on the home owner as opposed to working out a viable solution" adding "it's almost like, they have more to gain by taking back the home than altering the terms and conditions to save it. It's just horrible."
"Unlike credit card companies that would accept any payments made on the outstanding balance, mortgage companies have been known to return payments made by the home owner because they failed to bring the entire outstanding balance up to date in one large payment. Meanwhile, letters from their attorneys arrive in the mailbox piling on additional fees to the home owner. The foreclosure sale is soon scheduled, approved by the court, and the family is forcibly evicted from their home...the family's prized possessions are picked apart by opportunists on the curb," Elliott continued.
For others, home values seem to have stabilized somewhat in scattered pockets across Prince William County. Fewer for sale signs are on display now compared to the previous couple of years however, short sale listings continue to outnumber traditional sale listings 3 to 1. "...and, if I were to tell you what your neighbors home sold for just up the block," Elliott pauses, "it might make you a bit emotional when you learn how little it sold for."
Your home's value continues to languish underwater.
Local area residents are encouraged to email their personal story on 'How the Real Estate Market Has Affected You' directly to Keith at yourREstory(at)gmail(dot)com
About Keith M. Elliott Jr.:
Keith M. Elliott Jr. is a Realtor® with RE/MAX Olympic Realty in Haymarket, Virginia and helps home owners, buyers, investors, and institutional clients with the purchase, sale, and leasing of Prince William County Virginia real estate.