KNOWLEDGE IS POWER!

You know that real estate agents help you to move.  Did you know that agents can also help you stay where you are?  This has become quite an issue in light of the recent rise in loan defaults.  Real estate agents provide critical information and a link between lenders and buyers.

Subprime loans, in and of themselves, are not bad.  They provide financing for substantial numbers of people who cannot otherwise qualify under standard lending practices.  However, buyers must be informed and realistic about what terms they can actually afford to accept.

No one - not banks, not agents, not homeowners - sees foreclosure as an acceptable option.  It hurts everyone, including the communities where vacancies lead to declining prices.  This is where a trusted local real estate professional can provide assistance.

Real estate agents are advocates for smart lending practices, and they stay in touch with local lenders.  Agents also work with state and local governments, as well as local non-profit organizations that can help homeowners facing trouble meeting their mortgage payments.

Perhaps most importantly, realty professionals work closely with buyers to educate them about resources and options.  This helps homeowners and prospective buyers keep their homes and build their equity.  The key to it all is education and reason, and a strong desire to preserve the quality of our lives and our communities.

Larry Weichman is President/ Broker for Costa Mesa based Weichman Realtors. His company has served Costa Mesa since 1976.  Please direct your questions to Larry@TeamWeichman.com or call 714-241-4532. You may also visit www.TeamWeichman.com, www.OCHomeTracker.com or www.OCRepoBroker.com.