Oklahoma City has had some tough financial times in the past couple of years. The energy boom that brought with it a healthy real estate market earlier in the decade has slipped, and many Oklahoma City homeowners find themselves under a debt they cannot get out from under.

A Typical Story

Trish and Mike had high hopes when they moved from Michigan to the Olahoma City. She was an experienced department store manager and Mike was a power plant technician. They had longed to get out of the Rust Belt where they had lived for the previous 16 years. One day they decided to make the move to Oklahoma City. Trish could be near her mother, and Mike wouldn't have to drive 30 miles to work.

They sold their house in late 2006 for a tidy profit, while the market was still hot. They found a builder in the Atlanta area and put 30% down, but had to rent a house while theirs was being built. Trish found a job easily in her field. Mike was not so lucky. He had a hard time finding anything but part time work. After 6 months Trish's job cut her hours and pay. Then their daughter had medical bills in the hundreds of dollars a month. They fell behind on their mortgage payments. The lenders began demanding all their money.

New Dawn LLC has met hundreds of people just like Trish and Mike over the past couple of years. In fact, Trish and Mike were one of our customers. They didn't want to declare bankruptcy, so the came to us. Most people don't know about what is known in the real estate business as the short sale, and the banks won't tell you. People who simply cannot make their mortgage payments can talk to their bank and arrange to have someone buy the property for less than the market value, and that sale will settle balance on the loan. One of our certified analysts talked to Trish and Mike, and we showed them their options.

It worked out for everybody. Trish and Mike got out of debt and back to their normal lives.