Credit counselor Gail Cunningham has an excellent article on the shame of foreclosure and how it really affects the distressed homeowner emotionally.
Real estate investors doing short sales, bird dogs and rehabbers who are working with preforeclosures, repo homes, and loss mitigation can get some real insight on what distressed owners are thinking and how they think. This is vital if you want to do deals with them. As top marketers such as Dan Kennedy will tell you- you must get into the mind of the prospect.
But here’s something that struck me…
"It’s all about losing the dream taking your children out of their school and moving your family away from their neighborhood friends. Pulling up roots is never easy, particularly when you’re forced to."
Reading Gail’s article will help you get greater insight on foreclosures which will better help you do the deals with these people stuck in difficult economic situations.