My blog titled "Silent Suffering in the Luxury Markets" generated phone calls that brought some important luxury market misconceptions to light.
Misconception number 1: I am the only one in my community struggling with changes in my financial circumstances.
I discussed this very point in the above referenced blog. This is a group homeowners that, for the most part, are highly educated, upwardly mobile, have never suffered a difficult financial setback, believe they are alone in the struggle and need to hear from my voice to their ears that they are NOT alone.
Misconception number 2: Loan modifications and other options to foreclosure are only available to low income homeowners.
There are no income limits for loan modifications. The criteria for consideration is a valid financial hardship that is making it difficult to meet the mortgage payment.
Misconception number 3: A Realtor will always tell me that selling my home is the best option because they want a commission.
I am not in a position to speak for the industry as a whole, but I am one of a group of dedicated Realtors who seek first to help you stay in your home. If that isn't a viable option, I then help you review all of the options to foreclosure and provide documentation and checklists for you to take to your attorney and tax accountant for their professional opinions. Only then, and only if a short sale is your best option, will I list your home for sale.
Wendy Cutrufelli
Broker Associate
925.917.1135
The positions on this site are my own and don't necessarily represent Alain Pinel Realtors' positions, strategies or opinions.
Home Buying Tips | Home Selling Tips
Search for Contra Costa Homes by City:
Alamo Real Estate | Antioch Real Estate | Bay Point Real Estate | Blackhawk Real Estate | Brentwood Real Estate | Clayton Real Estate | Concord Real Estate | Danville Real Estate | Diablo Real Estate | Discovery Bay Real Estate | Lafayette Real Estate | Martinez Real Estate | Moraga Real Estate | Oakley Real Estate | Orinda Real Estate | Pleasant Hill Real Estate | Pittsburg Real Estate | San Ramon Real Estate | Walnut Creek Real Estate
Hi Wendy, I really like your post. I actually got my loan modified on a jumbo loan!
Tiffany, thank you so much for reinforcing my point with your success story! It is very important for homeowners to know that Jumbo loans can also be modified.