Increasing Foreclosure Awareness for 2008

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RISMEDIA, Dec. 27, 2007-The 17,000-member Chicago Association of Realtors® believes that no Chicago homeowner should face the daunting challenge of foreclosure alone, and has further stepped up its efforts to prevent foreclosures, educate consumers and Realtors about foreclosures and provide assistance to those for whom a foreclosure is imminent.

“Sellers are in desperate need of an educated Realtor® to help them as they are approached daily by scam artists looking to drain them of any equity they might have left,” Marki Lemons, a member of the Chicago Association of Realtors Board of Directors, said this week. Lemons, Certified Residential Broker, originator, instructor and self-proclaimed “Foreclosure Queen,” has reached out to consumers and Realtors alike on how to successfully conduct real estate business in this changing market. “Chicago’s Realtors are committed to helping Chicagoans navigate the murky waters of foreclosure. We believe homeowners are entitled to ethical, knowledgeable advocates. That honesty, sympathy, and passion are what you get when you work with a Realtor.”

Lemons, a teacher of 15 years with experience in Chicago Public Schools, Northwestern Business College, and the Realtors Real Estate School, is currently instructing the course, “Foreclosure Opportunities for Buyer-Clients,” through the Chicago Association of Realtors. Open to the public for courses in January, February, and April, this course will teach both Realtors and novices not only how to spot opportunities for potential homebuyers in this unique market segment, but also how to council home-buying clients on the perils of risky finance programs.

Illinois Governor Rod Blagojevich has also taken initiative to provide aid to Illinois residents in danger of foreclosure. The Illinois Housing Development Authority and The Illinois Department of Financial and Professional Regulation have established “Homeowner Outreach Days” to offer professional guidance to homeowners struggling to meet mortgage payments or needing to refinance.

Realtors recognize that foreclosure can happen to anyone. “There was a time when foreclosures only plagued lower income households; now, trends are showing that middle income and affluent households are also being affected,” Ms. Lemons said. “Prevention is key, but Realtors are able to step in at any point in the foreclosure process and help homeowners protect themselves. That is our job.”

For more information, visit www.ChicagoRealtor.com or www.ihda.org.

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