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Steve Roake & Kimberly Genovese

Everything came crashing down and I knew I could use it as an excuse to give up or an opportunity to commit wholeheartedly to what I really wanted. I chose the latter.When the market crashed in 2008, I lost my job as a high school math teacher. From 2004 to 2009, I taught in local schools, and I loved it. Working with the kids, coaching the football team, the schedule—all of it was wonderful. Then suddenly I didn’t have a job, no one was hiring teachers and here I was with my wife and child counting on my incomeDuring those years, on top of being a teacher, I worked as a REALTOR® when I found the time. I had only seen it as a hobby at first. When my world fell apart, I realized this was my opportunity to do real estate right, to do more, and unlock the potential to create a better life for my family and others.In the beginning, it was enormously difficult both financially and emotionally, but after a few years, I knew I had turned the corner and I was living my dream. What I realized along the way was that we all deserve an opportunity to be happy and live the life we want. That is what I offer my clients.My favorite part of being a REALTOR® is when the deal is done, knowing I followed through and made it happen no matter what.Whether you are buying or selling a home, this is your time. This transaction is about you and your needs, whatever that looks like for you. I will give you all the information and advice you need, but that final decision is all up to you. Once you decide what you want, it is up to me to make it happen. In an industry full of stress, I aim to be the calm in the center of the storm. I care about more than simply helping you make the best decision; I want to make it a fun experience all the way through! My clients matter to me, which is why I also provide my clients with life insurance services. I believe that everyone deserves the opportunity to achieve the life of their dreams, that is why I continue working with my clients throughout the years as their trusted friend and advisor.

200+

Clients Served

200+

Listings closed

10+

Years of Experience

OFFERING THE BEST

MY SERVICES

FOR SELLERS

ARE YOU SELLING YOUR HOME?

Maximize your property's potential with our strategic sales approach, ensuring you get the best possible price in today's market

FOR BUYERS

DO YOU WANT TO BUY A HOME?

Find your dream property with my expert assistance, offering a personalized approach to navigate the market and secure the perfect home for you

UPCOMING

OPEN HOUSES

AREAS WE SERVE

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Plainfield

Plainfield

WHAT MY CLIENTS SAY

TESTIMONIALS

Based on 57 reviews

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Roger Scott

Makerting Agent

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Roger Scott

Makerting Agent

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Roger Scott

Makerting Agent

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608 S Washington StNaperville, IL, 60540

PHONE

(815) 603-0077

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notice of default

3 Steps to Take When You’ve Received a Notice of Default on Your Home

October 31, 20243 min read

3 Steps to Take When You’ve Received a Notice of Default on Your Home

Receiving a Notice of Default (NOD) on your home can be a frightening experience, but know that it doesn’t have to be the end of the road. Many homeowners have navigated this challenge successfully, emerging with renewed financial stability and often able to keep their homes. Here’s what to do if you find yourself in this situation:


1. Understand What a Notice of Default Means

A Notice of Default is a formal warning from your lender that you've missed mortgage payments and need to take action. It is often the first legal step in the foreclosure process, giving you an opportunity to correct the situation before more severe actions are taken.

Key Takeaway: This is your chance to work with your lender before the foreclosure process advances. Open any and all communication from your lender, and get clear on your total outstanding balance and any fees that may have accumulated.


2. Assess Your Financial Options

There are several potential paths to avoid foreclosure, and it’s essential to evaluate each one based on your unique financial situation:

  • Loan Modification: You may be able to negotiate with your lender to adjust your loan terms, potentially reducing monthly payments or extending the loan period.

  • Repayment Plan: Some lenders will allow you to make up missed payments over time rather than all at once.

  • Refinance: Although refinancing may seem less likely when you’re behind on payments, some lenders or programs are available to help distressed homeowners find better loan terms.

  • Forbearance: A temporary pause on payments could provide you with enough breathing room to get back on track, especially if you're dealing with a temporary financial hardship.

Key Takeaway: Schedule a meeting with a financial counselor or real estate professional who specializes in foreclosure prevention. Understanding the right fit for your financial picture can make all the difference.


3. Communicate with Your Lender and Explore Assistance Programs

Your lender may be willing to work with you, but they need to hear from you. Being proactive shows your intent to resolve the issue, which is often looked upon favorably. In addition to working directly with your lender, explore state and federal assistance programs designed to help homeowners in distress.

Some resources include:

  • Homeowner Assistance Fund (HAF): This federal program provides support for those affected by financial hardships.

  • HUD-Approved Housing Counseling Agencies: These organizations can offer free or low-cost guidance on foreclosure prevention.

Key Takeaway: Actively seek support. Many states, nonprofits, and government organizations have resources to help homeowners. Engaging these programs early increases your chances of avoiding foreclosure.


The Bottom Line

Facing a Notice of Default can be overwhelming, but remember that you don’t have to go through it alone. Whether you choose a financial option, work directly with your lender, or take advantage of outside assistance, there are steps you can take to keep your home. By taking action, staying informed, and reaching out for help, you can begin to move forward with confidence. Visit Freedom Group Global's Foreclosure Prevention Page for more information or to request help.

notice of defaultforeclosure preventionavoid foreclosuremortgage helpkeep your homefinancial options for homeownerslender communicationloan modificationhousing assistancehomeowner resources
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Steve Roake

Steve has been a real estate broker since 2003 and brings a wealth of knowledge and experience. Having worked as a buyer's agent, managing broker, investor and team leader, he knows what it takes to sell homes for top dollar or help buyer's find the best available home. Steve's commitment is to assist clients in making their real estate transaction as smooth, efficient and profitable as possible

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