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WORRIED YOU COULD BE FACING
FORECLOSURE?
(we may have a solution for you)
Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Jeffrey Clee, Broker Associate with RE/MAX of Stuart with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating.
The Certified Distressed Property Experts also better understand market conditions and can help sellers through the emotional experience.
Foreclosure problems
The Homeowner will ALWAYS have to disclose that they have had a Forclosure on any mortgage application and many job applications
Creit scores will be lowered by 300 points (a great 750 score would become 450 and make it difficult to get a loan)
A Foreclosure is the one credit report item that is almost impossible to have 'repaired'
Your lender can seek a deficiency judgement against you and collect for any amount they do not recapture at a bank sale.
Many employers run credit checks on present and prospective employees
Insurance companies run credit checks and may charge more for people with Foreclosures on their record.
Security Clearances and Government positions including military and law enforcement can be jeopardized by Foreclosure.
...while it may not seem like it now, there will come a time where your current financial troubles will pass. You will feel much better knowing that you did everything you could to avoid devastating financial consequence so many people fase today.
9 Ways to Avoid Foreclosure:
REINSTATEMENT: Bring the loan current
FOREBEARANCE: Temporary repayment plan
REFINANCE: New loan with reduction in monthly payments
LOAN MODIFICATION: Modify original loan terms
SELL THE PROPERTY: Use equity to payoff or pay difference
RENT THE PROPERTY: Must make loan current
SHORT SALE: Negotiate with bank to accept sale under loan amount
DEED IN LIEU OF FORECLOSURE: “friendly foreclosure”
BANKRUPTCY: Will stall foreclosure but not prevent it
What is a "Short Sale"
A short sale is a property in distress due to several reasons and can become part of the Foreclosure process. You DO NOT want Foreclosure
1. Property that is in poor physical condition.
2. Property that is or will soon be in some stage of the Foreclosure process.
3. Property owned by a person or persons who is or are experiencing a period of financial instability.
4. Property on which the mortgages total an amount higher than the current value and an owner must sell.
You are not alone and there is something you can do to have a successful Short Sale out come!
Your Lender will pay all fees, which means NO COST to you
Contact me and we will discuss proven strategies for your situation
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