Just say the word foreclosure and it conjures all sorts of thoughts. Like the rest of the country, the Pittsburgh area real estate market is experiencing the sting of foreclosures too. Yes, homeowners living in the wonderful Pittsburgh and Peters Township area and many other areas are seeing riders added to property for sale signs that say "foreclosure or REO". But why so many real estate owned properties (by banks) and foreclosures you ask? Stay tuned.
Reasons for Foreclosures in the Pittsburgh Area Real Estate Market
There are many reasons for foreclosures. The biggest driver of foreclosures in the Washington County real estate market are the increasing interest rates of adjustable rate mortgages (ARM). This type of mortgage was very popular from 2001-2006. Other reasons for foreclosures include job loss, unexpected family illness and other catastrophic family crisis. If you find your Washington County home on the slippery slope headed to foreclosure the only way to find out if you can save your home or your credit is to take action and you must take action today!
Protect Yourself Against Foreclosure Predators!
A word of caution. The Pittsburgh and Peters Township real estate market has its share of dishonest people seeking to take advantage of consumers who are desperate for a quick fix. If you have missed a mortgage payment or are about to miss a payment, there are safe steps to help you guard against those who would seek to take advantage of you. While it might be difficult and even embarrassing, you must take action. Contact me, Jim Dolanch
, your expert Realtor today! I am dedicated to helping you seek out every solution available. But you must take action. Contact me today!