Saved a homeowner from foreclosure this week and got a great deal for a homebuyer!

This week we closed on the sale of a home that was just 30 days away from bank foreclosure!

It felt like a marathon, because there were so many aspects of the deal that had to be navigated. But it's finally over, and we now have a happy seller, AND a happy buyer.

If you're a homeowner and you're facing foreclosure - there are solutions, but they all depend on communicating with your lenders and with your realtor.I f you're already trying to sell your home, and haven't had any buyers at the price you're asking - there are options to reduce your asking price to "short sale" the property. This is a process where a buyer can offer less than the amount that is owed - and the bank's approve or counteroffer the buyer's offer. This will only be considered by the lien-holders if you have already been missing or late on your home payments. If successful you are released from your obligations, and you will not have a foreclosure on your credit record - most financial institutions record only the late or missed payments.

If you're a buyer there are a world of great deals available if you search for pre-foreclosure homes. In the deal that I recently closed - the buyer got a home for $50,000 less than comparable homes in the neighborhood are selling for!