October
8, 2008
Dear Coldwell Banker® Brokers and Sales Associates:
There are now hundreds of thousands of families all across America facing foreclosure because they simply cannot afford their mortgage payments, or they owe far more than their house is currently worth. To make matters even worse, the Mortgage Bankers Association reports that approximately 50% of home owners who do lose their homes to foreclosure have never once contacted their lender.
With this stark reality
in mind, I am writing to you today to initiate a system-wide Call-to-Action to
the more than 300,000 brokers, managers and sales professionals who are
affiliated with one of our franchise brands. I am asking each of you to help “Save
the Dream” of home ownership for just one family facing foreclosure.
I believe that we have both an opportunity and an obligation to help our
neighbors and our local communities by trying to prevent as many foreclosures
from occurring as possible.
This “Save the Dream” initiative may require several hours
or even a few days of your time, but I am confident the end result will be well
worth the effort, both personally and professionally. Specifically, I
am asking each of you to find just one family in your local community who may be
facing foreclosure and help them reach out to their lender or a housing
counseling agency so that they can begin the process of exploring a loan workout
solution and hopefully stay in their homes. If you
don’t know of anyone in this unfortunate position, I’m confident that you
can use your networking skills to find someone who needs this kind of help and
approach them in confidence and with great sensitivity to the situation.
Collectively, we can make a difference.
Here are direct links to two of the best resource sites available that you can
use both to educate yourselves and to share with people in need of learning more
about how they can help themselves avoid foreclosure:
- Guide
to Avoiding Foreclosure (U.S.
Department of Housing and Urban Development)
- The
HOPE NOW Alliance and the Homeowner’s HOPE Hotline (1-888-995-HOPE)
One thing I have learned during my career as a real estate professional is that
we REALTORS are very focused on community service. You spend time every year
supporting a myriad of very worthwhile causes like Habitat for Humanity, Easter
Seals, MDA, Big Brothers Big Sisters, Toys for Tots and Make-A-Wish, to name
just a few. You know firsthand that doing good deeds is indeed good business.
More than that, I know you care deeply about your communities.
I truly believe that this “Save the Dream” initiative will
enable you to give back to your communities in a positive and meaningful way –
one that at some point in the future might have a direct benefit on your
business. There is an old expression I’m sure you have heard many times …
“What goes around, comes around.” I’m most certain, that if you can help
save someone from the pain and anguish of foreclosure, they will be your friend
– and customer – for life.
President & CEO
Realogy Franchise Group