Clare LeForce's Blog

It is understandable to have reservations about letting the world know that you owe more on your home than it is worth. However, according to recent estimates, more than one out of eight homeowners in the U.S. is in the same situation. You are to be congratulated for admitting you need help, taking action, and finding a professional who can work with you toward a solution.

With recent estimates showing 40-60% of U.S. sales will be short sales or foreclosures, you are not alone. *

For more information on your options, call us today at 925-998-5902 or 209-836-0896. Discover the truth about the short sale myths. Visit our site again soon for more information.

*cdpe.com

Myth #3 – There is Not Enough Time to Negotiate a Short Sale Before My Foreclosure

This is a myth that probably hurts homeowners the most. Many do not realize that foreclosure is a process, and that there is time to make decisions that may result in better outcomes.

The foreclosing party—in most cases a lender—can stall a foreclosure up to the final day of the process. Today, many lenders will stall a foreclosure with as little as a phone call from you explaining that you are trying to sell, and almost all lenders will stall a foreclosure with a legitimate contract. For real estate professionals who understand foreclosures and short sales, there is time available until the foreclosure process is complete. *

For more information on your options, call us today at 925-998-5902 or 209-836-0896. Discover the truth about the short sale myths. Visit this site tomorrow for more information.

*www.cdpe.com

Myth #2 – You Must Be Behind on Your Mortgage to Negotiate a Short Sale

While this may have previously been the case, today lenders are looking for verifiable hardship, monthly cash flow shortfall, or pending shortfall and insolvency.

If you meet these three requirements and believe that you soon may be unable to afford your mortgage, act immediately. Any delay could limit your options. Do not wait until the countdown clock to foreclosure has started and you have even less time left. *

For more information on your options, call us today at 925-998-5902 or 209-836-0896. Discover the truth about the short sale myths. Visit this site tomorrow for for information.

*www.cdpe.com

As the housing crisis continues, several myths have developed concerning short sales. It is important to understand that a short sale can be an excellent solution for a homeowner stuck in a stressful, no-way-out situation. Learn your options and don’t become another statistic….

Myth #1 – The Bank Would Rather Foreclose than Bother with a Short Sale
This is one of the most common misconceptions. The reality is that banks do not want to foreclose on your property because the foreclosure process is incredibly costly. Banks, investors, and even the federal government have all publicly stated that if a person is qualified for a short sale, the deal needs to be considered. Overwhelmingly, banks receive more on their investment through a short sale than a foreclosure.
The qualifications for a short sale include:

Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
Monthly Income Shortfall – “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.*

If you or someone you know are facing this situation, call today to get a free, confidential consultation. Karen Ross 925-998-5902, Clare LeForce 209-814-0800.

Tune into tomorrow for myth #2…..

*www.cdpe.com

Are you stressed about the late notices that the bank has been sending? Worried about foreclosuring on your home? Here are a few 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: Must make loan current
* 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

You have options. Call us today to get the confidential, caring help that you deserve. Learning about your options will allow you to make an informed decision and reduce the stress. Utilize our CDPE (Certified Distressed Property Experts) staff to negotiate with your lender. Call today and don’t let time run out.  Clare LeForce 209-836-0896 / Karen Ross 925-513-2702.

If you are one that is on the fence and thinking about should I or shouldn’t I???  My answer to you is “Yes”.  Now is the time.  The two main reasons in my opinion is: Banks are becoming more sensitive to the home owners needs of getting rid of the home and secondly agents are out there selling more of the short sale homes due to the banks becoming more cooperative and a better track record of a successful closing.  Another reason why more short sales are being sold in TODAY’S market is due to the lower inventory of REO’s (foreclosed homes).