Foreclosure Essay

Home: the place where you feel most comfortable and safe. In fact, many people say there is no place like home. However, many have faced the tragedy of being forced from the very place you feel your best. The foreclosure crisis that swept the nation several years ago claimed countless homeowners, who were forced out of their houses when the economy hit rock-bottom. Those victims, along with the economy, are now beginning to slowly recover. And with collective home prices — and interest rates — still at very attractive levels, these "foreclosure victims" have transitioned into potential "boomerang buyers." There is hope. Buyers with checkered pasts can still take advantage of the current desirable real estate market conditions. There are several

The potential owner gets to ensure that no one else can move into and buy the home, all while saving money to one day gain ownerships of the house. A portion of the payment goes toward a down payment on the house every month. It also gives an extended chance to get to know your home and neighborhood. During your stay, you can see if the house leaks, was made with harmful chemicals, and other factors that might have you looking to another section of real estate. The buyer also gets a chance to meet neighbors and ensure they are moving into a neighborhood that is right for them and their families. This option is one of the many for people who do not have the money right away, and want to test the waters for the new home as

Many banks and credit unions offer help and support to their customers. By working directly with money, they understand that the economy played a major role in many peoples’ financial shortcomings. Even small amounts of help add up in the long run. Bank tellers can assist you by seeking the best options for payment plans, savings accounts, home equity, and much more. Also, as an important note, they can help you track your credit score. This makes getting your foot into a new door easier for someone who has been through