Home : Blogs : Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes : Wellington Homes and More...

Attention Florida Home Owners In ForeclosureIf You Have Been Served With Foreclosure Papers

If you have been served with foreclosure papers and given 20 days to respond to your summons and complaint please be aware that you will start to get lots of mail and phone calls from all sorts of opportunity seekers and scammers. You need to take the papers you are served with right to your attorney. Your attorney will answer the complaint. This will buy you a bit more time so that you can still try to get your home sold before you lose it to foreclosure.

We have listings that are short sales. That means the homeowner owes more to the bank that what their property can sell for in today's market. You see, the market decides what your home will sell for, not the bank, not us, not you. One of our sellers just called me and told me that she was just served with foreclosure papers. We are doing our best to get her property sold before that as a short sale.

Well, lo and behold within an hour of her being served she was receiving phone calls from different people telling her that they can help her. This is one of the conversations: The man calls and tells her that he is the representative for her foreclosure file. ( She has her own attorney). So she says to him, " I am selling my house as a short sale so why are you filing these papers right now, I have an offer on my house." Since she thought he was with the bank who she is working with she did not understand. So he then tells her," Oh, your Realtor does not know what they are talking about , they don't know how to do a short sale and they are just telling you that so you will list your house with them. I can help you keep the bank away for 6 months if you send me a check for $995.00."

Don't believe what people tell you on the phone! Beware, you don't know if they are being truthful to you! There are people who just are preying on homeowners appealing to their desperateness. I am so glad that she told him that her attorney would handle it from here on and that she called us right away!

Keep a list of names and numbers of the people that are calling you and pass them on to your Realtor and attorney. If they are frauds and scammers we can send this information to the the State Attorney General's office.

Make sure if your house is listed for sale and you are served with any notices that you call your agent right away so that they can evaluate the situation and make all the proper disclosures for you in the event you get an offer on your house.

Now there are companies that specialize in getting you more time and to postpone your foreclosure. Before you give your money to one of them please check them out and go to their place of business, check with the division of corporations and ask for references. DO NOT EVER GIVE YOUR CREDIT CARD OVER THE PHONE to one of the people claiming to help you.

We suggest that you get with your agent as soon as possible to create an effective marketing program and reduce the price enough to get people to come and look at your house and make offers. Your agent should know how to do short sales. This is no time to waste time! Every moment counts!

Contact Nestor and Katerina Gasset, CIPS, Realtors(R), International Properties and Investments, Inc. Licensed Realtors (R) in Florida at 561-753-0135 to list your property for sale or to purchase a property in Palm Beach County Florida.

Visit our profile to find out more about our services. Call us today at 561.753.0135 or Toll Free 800.444.3316. Contact us by email if you prefer by clicking on email me on the right side of this page under our photo. To view all the Wellington Fl Luxury Homes For Sale Click here and then click on Multiple Listing Search where the globe is on the right side of the screen that opens up. We know Palm Beach County and will help you get your home Sold if you need to Sell your home and help you buy your Wellington Florida Home; call us today.

Posted by Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes on 10/17/2007 01:19 PM

Comments (59)

florida foreclosures homeowners in foreclosure, if foreclosure papers have been filed in florida, foreclosures, short sales

Originally posted at: South Florida Real Estate and...: Attention Florida Home Owners In Foreclosure*If You Have Been Served With Foreclosure Papers*

This post has been included in Florida Information Palm Beach County, FL Information Wellington, FL Information

59 Comments on Attention Florida Home Owners In Foreclosure*If You Have Been Served With Foreclosure Papers*

OCT

2007

I have been taking all this information you all are posting to learn more...in case it happens to come up over here for me. Thanks for the info and will keep posted on your posts! :)

Sally- I hope you never need to use this information! Thank goodness you live in a stable economy and housing market. Knowing that Hawaii has one of the lowest foreclosure rates in the country must help with peace of mind there. Of course, I have my own personal opinions as to why that is! Katerina

This is rock solid advice. I've bookmarked it so that I can be sure I include some of your points when educating my clients.

excellent information - I have also bookmarked this!!! thanks!!!

Katerina,

Good Info!!! I love this stuff, and it is all Relevent...

Tom Weiss

Many people would let the envelope lay there on the kitchen table for a few weeks, pretending it would just go away...

Wow, I've never been in any such position, but it is good information to anyone in financial troubles!!

Good information, Katerina. I have bookmarked to help any people out that I run into dealing with this.

Katerina, This is sure to help anyone who reads it. I know many consumers are ducking the issue when they are late on mortgage payments and don't realize how important it is to do something right away.

Dan Forbes - Bradenton Real Estate

Dan- I will take that as a compliment coming from you; so educated in short sales and such. Katerina

Bill & Barbara Jo - Florida Realty Professional - AHWD

Bill and Barbara- Thank you! I am glad you can make use of this post. Katerina

Thomas Weiss

Tom- Thank you and I hope that we can help homeowners from making mistakes. Katerina

Jeff Geoghan MBA, - Lancaster PA Real Estate Expert

You are right. Many homeowners are in denial and frozen in inaction. Katerina

Ronald Gillis, Southwest Florida Notaries, Port Charlotte, FL

Ronald- You are fortunate. As you know in your area there are a lot of foreclosures too. I only hope that people will read this blog and take the actions needed to try to sell their homes instead of just walking away because for most people selling in a short sale is better. Katerina

Missy Caulk- Ann Arbor Real Estate

Missy- Thank you and I hope this post will help people in this sad position from making mistakes they will regret. Katerina

Carole Provenzale Owner, Feng Shui Long Island

Carole- You are correct, many people in this position are not taking proactive actions, they are just being reactive. It is better to do something than nothing. Katerina

Katerina -interesting and useful information for people in distress and under stress. We don't have a lot of foreclosures here, but it is something that everyone needs to be aware of.

Faina Sechzer-Princeton NJ Real Estate Expert

Faina- I am glad you do not have many up there. It is very common here right now. In fact, it is an everyday thing here now. I hope it stabilizes soon. Katerina

Hi Katerina, it's so sad that anyone would take advantage of someone in that situation. This is great information for folks in the Wellington area!

OCT

2007

Katerina, As always you really give us great advice. It is sad when people are down their is always someone their to give them a kick as well...

Stephanie Edwards-Musa, Realtor ® The Woodlands, TX Real Estate

Stephanie- Yes, it makes me mad when I see someone try to take advantage of someone's situation. People need to understand that not everyone is out to help them. Katerina

Matthew J Blum - MyFavoriteMortgage.net

Matthew- And that makes me mad! I am empathetic to someone who is down and out on their luck. I can not stand to see others take advantage by scamming someone who is already down and is vulnerable at that time. I mean, this is not easy to deal with. People who are being foreclosed on need to talk to their attorney and their agent. Katerina

KATERINA: It's so sad that there are people out there that just want to prey on others when they are the most vulnerable. This should be a featured post in Localism so that it helps to raise awareness.

Adam Waldman - Long Island, NY Real Estate

Adam- Thank you. It is sad and disgusting. I like to give those kind a piece of my mind but they probably do not have any conscience! Katerina

I am so tired of people taking advantage of someone who is down on their luck. It makes me sick to see people taking advantage and profiting w/fraud.

There are plenty of scammers out there and indeed we warn them all the time on the radio show. But if someone is facing foreclosure it is unlikely they can afford to go and see an attorney which is unfortunate.

Stella Barbour

Stella- Me too! Thanks for stopping by. Katerina

Simon Conway

Simon- Most of our foreclosure clients do have attorneys. The other option is finding a legit foreclosure consultant who can negotiate the time and help with forebearance, etc until they can get their property sold. What radio show? Katerina

My goodness... what excellent advice! Fortunately, I don't run into this at all in my market - knock on wood - but a lot of people may find this very helpful. I hope it gets you some bonus search engine points!

Katerina, Every state has different laws regarding foreclosure, but one thing is the same. When the notice of default (or whatever it is called in a particular state) is filed, out come the scammers and vultures to pick over the bones. Your advice is very good for your homeowners. We all should be doing this in our own areas.

Bill Roberts

Wow, excellent post!!!! Great advice, I have also bookmarked this page. Thanks!

Thank you. This is good advice. At our company we are trying to help these motivated sellers sell their homes every day. Many are just afraid and uneducated about what their options are and how to handle the situation. They do not know who to trust and hope that the problem will just go away. Unfortunately, we all know that this will not happen.

In fact, the statistics of homeowners actually refinancing or restructuring their loans is a pathetic less than 5%. We have not even scratched the surface of all the properties that will be going into foreclosure in the next year. In some markets there is 10-12 months worth of inventory to sell. Digesting that while more is coming in will be challenging. Those who are unfamiliar with these issues are wise to get educated.

Theses scammers need jail time.

Great post. I've been hearing more and more about people trying to do these kinds of scams, and i inform all of my clients to be weary as well.

Katerina,

I just wanted to say Congrats on the Star ;0) Good for You... Great Post!!!

Tom Weiss

Wow! It just amazes me how the vultures and low lifes come out when things get bad and try to steal you blind.

It shows you how important it is to have an experience attorney and Realtor on your side in a situation like this.

Thomas Weiss

Tom- THANKS! It is important info for homeowners that is why I am happy it got featured. It is info we need to get out there! I got the clear to close for Patrick, thanks! Great job! Katerina

Excellent. We see and hear it all the time. Your information is accurate and very good!

Great advice. We are working with many homeowners here on the SW Coast of Florida in the same situation. They are being bugged by 'investors' & 'short sale specialists'.

They are being asked for up-front money & even asked to sign over their houses to these people!

Many call us hoping we are investors to buy their house.

We explain to them how things need to be handled & in most cases are able to help them sell their house.

There are too many scammers out there & everyone needs to be careful.

* Use a licensed Real Estate sales associate who has experience in short sales.

Margaret Woda, Maryland REALTOR

You are blessed to not have many in Maryland. Here the artificial inflation caught up with us and now we are paying the price. Each neighborhood has between 10 to 50 foreclosures going on as we speak. Katerina

Margaret Woda, Maryland REALTOR

Bill Roberts - "Baby Boomer" Retirement Planning

Bill- We have people talking these people who are in foreclosure to quit claim the deed to them and they will pay the mortgage, let the people rent from them.... well, they don't pay the mortgage and so the people renting back are now out of rent money and out of a house, still get foreclosed on! All kinds of scams! Katerina

Marlene Scheffer

Marlene- Thank you! Spread the word in your community to be careful of these scams. Katerina

Christiane Wyckoff

I do not know if you are a member of Active Rain. If not, fine, if you are, there was no link for me to pull down. I tried!

I did the math for Palm Beach County and right now we have a 3 year inventory with what is on the market today.

I wish more people would take action when these things happen. I know how easy it is to get frozen in one place due to the stress of foreclosure. People feel like all is lost. Education is key here. I feel that I am to help educate the consumers as to their options and dangers lurking. Katerina

Hayden Gerson

That is right! Thanks for commenting! Katerina

Joshua Talayka

Joshua- Thank you for being responsible and proactive! I am glad that you are helping your sellers and people you know in this way! Katerina

Dan Weis Cincinnati Ohio Real Estate

Dan- Yes, you are right. The sad part is that there are those who can not afford attorneys and legal aid here only helps tenants. If you have a mortgage they will not help you, sad as that is! We do our best to inform people of their options. Katerina

Allison Stewart

Allison- Thank you for your comment. I appreciate it. Katerina

Cape Coral Real Estate - (239) 218-2229 Susan Milner

Susan- THANK YOU! I forgot to add that to the post! I will write another post with the scam of the people who want you to sign your deed over to them! I need to make people aware of all these scams! Thank you and YES< you need to have an experienced Realtor (R) to be on your side to guide you through the process and get your house sold in a short sale instead of giving it to someone who is just going to take your money and run! Katerina

Great information. There are so many sharks out there trying to take advantage of people in such dire straits. Your best tip is for these homeowners to never give their credit card information to anyone who claims they can "resolve" the problem. JUst hang up the phone!

Lisa Ryan~Selling Princeton,West Windsor and Montgomery Township New Jersey

Lisa- and I am glad she did tell him she has an agent and an attorney who she will bring this to the attention of. Thank you for your comment. Katerina

thank you for the great information...by the way, know anyone who might be interested in a terrific 2005 home in Lake Lucie community in Port St Lucie? Before it gets foreclosed?

OCT

2007

Gail Gladstone

Gail- We have listings in Port St Lucie. Port St Lucie got hit the hardest. The prices need to come way down before they hit bottom, not until the end of 2008 for St Lucie! Katerina

Thanks for posting. Good information. All the best to you in your market.

Bob & Carolin Benjamin - E Phoenix Valley Real Estate

Bob and Carolin- This too shall pass! Thanks for your comment. Katerina

OCT

2007

Katerina, super post! It's so important for people to be careful in this situation, and they are so stressed an vulnerable that they can fall prey to some pretty bad guys.

Patricia Kennedy

Patricia- When you get stressed you don't think straight and do become vulnerable. Since this is an emotional time for most people the tend to get preyed upon. Thank you for commenting on this important information. Katerina

Katerina,

Your clients in this unfortunate situation are fortunate to have you as their agent helping them.

Rita Taylor | Sanford NC Real Estate & Homes for Sale in Sanford North Carolina

Rita- Thank you and yes, they are fortunate because there are so many people who do not care out there! Katerina

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?