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countrywide: How The Foreclosure Process Works – Hanging On To Your Home - Part Four - 01/14/08 01:25 PM
After the recent developments with Countrywide Home Loans I though readers might be interested in an update to my first three posts on "Hanging On To Your Home".
Although in my particular market we have a very small number of foreclosures and short sales (less than 4% of the current listing inventory, assuming that the data inputted is accurate. which may or may not be the case), the ripple effect is significant. 
Disclaimer - the information here may or may not relate specifically to YOUR situation.  Seek competent legal and professional real estate advice if you have concerns regarding your home. 
If you … (2 comments)

countrywide: How The Foreclosure Process Works – Hanging On To Your Home - Part Three - 06/19/07 12:08 AM
Eric Fleisher Vice President, Home Retention, of Countrywide Home Loans facilitated an informative meeting on June 14th with about 400 local Realtors®.  Part One reviewed the typical foreclosure process, Part Two covered the options that are usually available to a borrower who is having difficulties, today we are covering Part Three, the details of a Short Sale.
Of the 50,000 cases, about 13,000 are closed as short sales (meaning that the borrower sells their property before the foreclosure cycle runs it's course).  In most cases the borrower needs to contact Countrywide and let them know that they are having trouble and plan … (5 comments)

countrywide: How The Foreclosure Process Works – Hanging On To Your Home - Part Two - 06/17/07 12:51 PM
In part one I reviewed the foreclosure process as outlined by the Home Retention Division of Countrywide Homes Loans in a presentation to about 400 Realtors® on June 14th in Glendale, California.  Confronted with 200 requests DAILY for Short Sales, I wanted to outline the foreclosure process first, then cover the options that borrowers have.  Note that although foreclosures are increasing, the total number is still relatively small.  Due to the appreciation rates over the past six years most homeowners have plenty of equity.  So when the media reports "foreclosure rates up 200%", it's 200 times a very small number. 
First, … (4 comments)

countrywide: How The Foreclosure Process Works – Hanging On To Your Home - Part One - 06/16/07 02:44 PM
Thursday, June 14th, Allen Pezeshikian of Countrywide Home Loans sponsored a presentation conducted by representatives of Countrywide's Home Retention Division.  Formerly known as the Loss Mitigation Division, the re-naming better describes Countrywide's perspective on home owner retention versus short sale/foreclosure options.  The audience was about 400 Realtors from the Glendale, California area primarily, although there were some from as far away as Palmdale.
(Disclaimer- each lender has their own policies.  If you have questions contact your lender).
The Foreclosure Process:
1.         Mortgage a payments are normally due on the first of the month, with a fifteen day grace period, which most mortgage payers take … (14 comments)

 
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Keith Sorem

Glendale, CA

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Keller Williams Realty

Address: 411 North Central Avenue, Suite 100, Glendale, CA, 91203

Office Phone: (818) 432-3269

Cell Phone: (818) 230-8049

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