November 2022 Newsletter

SEPTEMBER 2022
THE OFFICIAL NEWSLETTER OF THE




Forbear
ance &
Foreclosures

Don't Panic. Know Your Options!

TBD Janice Road 5726 Straight Way *Rental 3723 Mossy Rock Court
16 Days On The Market 4 Days On The Market 14 Days On The Market

5618 My Way *Rental

22047 Summer Shower Court 40514 Winter Grass Bend
13 Days On The Market 41 Days On The Market
10 Days On The Market

17411 FM 2100 Road 161 Amber Dawn Court 502 S Main Street
46 Days On The Market 57 Days On The Market 64 Days On The Market

2402 Middle Creek Drive 5819 Majestic Harbor Lane 21126 Grant Lake Circle
65 Days On The Market 88 Days On The Market 86 Days On The Market

The housing market has been in the process of stabilizing this year. IF
you were in FORBEARANCE because of the pandemic, and your lender
allowed you to stop making your mortgage payments for some time,
know that you may have already OR are going to be receiving a letter
that this time period is coming to an end. Meaning, if you are still in

forbearance with your lender, you are going to need to start paying
your mortgage once again. HOWEVER, this means that the principal
that you owed has tacked on to the back of your home loan, and your
lender may ask you to pay backed interest and fees in association with
the time period that you DID NOT pay your mortgage. If you don't have
that cash right now to pay these fees and such, the lender will then

start the process to foreclose on your home. EEEEK! Scary, right?



WELL, Designed Realty Group says DON'T PANIC! Why not? Know your
options! Foreclosure is not the only solution and we can help provide
those options to you in a confidential meeting with our broker/owner
Judy Hayes. She will sit down with you and recommend the best option
for you so that you don't end with a foreclosure on your credit report.

Take a look at these other options below:

Short Sale: As an alternative resolution, the lender may release you from further
monetary obligations, but you sell your home for a shorter amount than the
loan on your home. You also will not be able to buy a home for 2-3 years after.

Cash Offer/Traditional

Sale: List your home traditionally where only your defaulted payments appear on
your credit. You can do a Simple Sale or speak to one of our investors for a
Deed In cash sale.
Lieu:
You essentially deed the home back to the bank, your credit score is
impacted, BUT in the end this and the other two options allow you to NOT
have a foreclosure on your credit!

The News Board! We Our Community!

On behalf of Judy Hayes, our THE SEASON OF GIVING
broker/owner, and everyone at Designed
We searched for the top three NE Houston
Realty Group, we would like to share volunteer and food distributions centers. As
how thankful we are to have you! Our we spend time with our families near and
friends and our clients. Business would far this holiday season, remember those
who are not as blessed, and share a little
not be this successful without your love.
continued support, loyalty and referrals! Humble Area Assistance Ministries - Food
Distribution Center

(P) 281-446-3663 (W) haamministries.org
As we speak more frequently about
Forbearance and Foreclosures, it allows Family Promise of Lake Houston
us to stop and reminisce about what we (P) 281-441-3754 (W) fplh.org
are blessed to have and reminds us to
be grateful for it all. Again, we thank you Harvest NOW Inc.
for your continued support, and we hope (P) 281-770-9335 (W) Harvestnowinc.org
that for all of your real estate needs you

do think of us here at DRG!



BUY | SELL | LEASE | INVEST

281-324-1300

www.realtybyjudyhayes.com