Homeowner and bank work out agreement

Last week one of the homes in Prairie Oaks was withdrawn from the market. I have been told that the Seller and his bank came to terms with a payment plan acceptable to both.  This home would have been a short sale if it had sold.

The good news of course is that the Seller stays in their home and we have one less home on the market.  This is only the second time that I have heard that the bank and homeowner have agreed to new payment plan.

I will let you know if I hear of more.  In the meantime, if you are a homeowner that is in a situation that you currently or in the future have payment increases that you can’t handle, I urge you to start talking to your lender.