Surviving foreclosure
Real Estate News From The We Buy Houses Team
Going through foreclosure can write a new chapter in one’s life but for Elin Bullmann, it has written a whole book.
Ms. Bullmann has taken a year of research into ways to avoid foreclosure and melded it with her own personal experience to write “How to Survive Foreclosure or Avoid it Altogether,” an e-book that she hopes will help others caught in the mortgage meltdown.
“This is my personal experience and my fight against foreclosure and trying to figure out a way out,” she says.
A professional writer, Ms. Bullmann took notes about what she discovered along the way and then interviewed experts for her book. “I’ve talked to a dozen different experts that are covering every area that foreclosure will affect,” she says.
Ms. Bullmann says she and her husband were not neophytes to real estate and owned several properties around the country. But financing their personal home in the Tucson, Ariz., area with a “pay option ARM” loan proved their undoing.
“Like so many other investors and homeowners, we bought homes and sometimes you don’t know what loan you’re getting into,” she says.
(Ms. Bullmann talks about what she went through, what she learned and what she put into her new book in today’s CVBT Audio Interview. Please click on the link below to listen or to download the MP3 audio file to your computer or iPod.)
“We learned that we should have started the process much earlier – at the very first sign of having trouble making a payment,” says Ms. Bullmann. “Right now, there are so many foreclosure files on lender’s desks around the country, most won’t even help until a homeowner is at least 90 days delinquent.”
Ms. Bullmann is a copywriter and author now living in Bend, Ore., with her husband Ken and two sons.