The Raw Facts on Default, Pre-Foreclosure, Short Sale and Foreclosure

Below is a list of power-packed posts filled with informational facts about being in Default, finding yourself in the pre-foreclosure process  and having to do a Short Sale and some helpful tips on how to avoid Foreclosure. By reading this information you will know the timelines, procedures, advantages and disadvantages of each stage.  You will find options that will help this rocky road a little easier to control.

This will help homeowners/sellers that are in trouble and it will also help ready, willing and able buyers whether it be families looking for a new home or investors looking for investment deals.

Stats and information  

  1. by Definition.... - Definition of foreclosure terms
  2. When being #1 is bad!  Ranking of California cities and counties for the month of November 2007
  3. The rankings are in from the top 20 - This was an eye opener on the rankings of cities in foreclosure with California having more in the top for the month of
  4. Will aspirins make it go away?.... probably not!  Points encouraging you to face the situation
  5. City, County, State.... what are they doing?  Information on San Joaquin County & Stockton resources
  6. Meltdown or FREEZE ?  Coverage on the market situation
  7. Foreclosure assistance sites - Excellent Foreclosure resource links

Sample Letters to Send to Lender

  1. Sample letter: To lender requesting help to avoid foreclosure - Sample letter to send to the lender requesting help to avoid foreclosure, and a suggested budget to catch up
  2. Short Sale - Sample hardship letter  -  Sample letter to send to lender explaining how and when your hardship started.
  3. Short Sale: Dear Mr. Lender...... Very truly yours,  Sample of letter to lender requesting short sale information and procedures / requirements.
  4. Short Sale Worksheet example and suggestions- Sample of a worksheet for a counter offer to lender

Information on the Default process:

  1. Initial steps of Short Sale - Default Period
  2. Short Sales - Great information on short sale refers to http://www.motheranddaughterrealty.com/
  3. Short sale approval is not AUTOMATIC! - Your lender may play hard nose
  4. T I M E equals 90  - An explanation of the from Default to Sale Timeline
  5. What are the options?  - List of options while in default/pre-foreclosure
  6. Master the art of foreclosures  - Great tips on foreclosure
  7. Disclose with foreclosure sale, just as regular sales - Disclosure reminder
  8. Default to Short Sale - Steps from default to short sale
  9. Know your buyer's intentions before accepting the offer...... Some California Laws that must be obeyed when seller is in default and an Investor wants to purchase property
  10. Foreclosure "Last Minute" tips: Did you know? - Last option before foreclosure.
  11. To Cure a Default - More information on how to get out of foreclosure.

Short Sale Information

  1. Short Sale: "The To Do List"  - A good list to follow to get a short sale done
  2. Its a Short Sale...Take the steps!  - Step by step from listing before the offer
  3. It's a Short Sale... You have an Offer! ....Take the next steps. - Step by step once you get the offer
  4. Short Sale - List the Process - Informing the sellers/buyers of the process
  5. Short Sale - Important Information for a successful sale - What to put in the MLS listing to protect you!
  6. Hardship or not? that is the question.... - About qualifying for a hardship
  7. A little more time.....  - A cliff hanger story of what can happen during the foreclosure process
  8. BPO Walk thru -- then what??  - A little information on how BPOs work for short sale
  9. Disclose with foreclosure sale, just as regular sales   - Tips on regulations for disclosure procedures in a short sale

Other things that can happen:

  1. Short Sales - other Liens can cause a problem - Here's a tip. - This may  not seem important until you are in escrow and find out that there are other liens on the property that is in short sale and time is running out.

Other Options:

  1. The Simple Way Out?????? is not a good "deed" - Explanation of Deed-in-Lieu of Foreclosure
  2. Home Equity Sales  - An introduction to home equity sales - see more on realtor.org
  3. Effect Bankruptcy Chpt 13 has on Short Sale?  - Chapter 13 Bankruptcy information during foreclosure

Laws, Relief Plans in Site? Good stuff *** Help is on the way!

  1. Good News! Tax Break for Mortgage Debt Forgiveness! A Change that will help!   It passed! Yeah. President Bush signed on Dec 20, 2007.
  2. What does California have to say about Foreclosure Consultants and RE Agents  - A few tips on what a real estate agent can and cannot do as far as consulting sellers in foreclosure.
  3. Invest without Agent - It's the California Law!  - Investment tips vs. what an agent cannot do to help
  4. It Passed .... Now what? More FHA Loans? Bill HR 1852
  5. Tax Relief from Short Sale - Will it pass? HR 1876  - News on tax relief bill
  6. Anybody got a bandaid? - Regarding the new plans that President Bush introduced to help the foreclosure problems
  7. Here come the judge! .....BK judges might get to help the foreclosure problem ! Judges maybe able to make decisions to lease the mortgage payment plans
  8. Owners have rights, Tenants have rights too-- all God's children got rights! Explains some of the rights tenants have if you are renting out your home and run into foreclosure problems
  9. Short Sale: Relief..... is it just a plan away?
  10. Invest without Agent - Its the California Law!  Explain that real estate agents cannot represent an investor in the purchase of a property that is in recorded default.

 

For free market evaluation of your home visit http://www.motheranddaughterrealty.com/

Check out my Mother and Daughter Blog for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team and we also focus in Short Sales and the Pre-Foreclosure process.  Our consultations are free.  Our aggressive marketing plan includes progressive online listing advertising.  If you are thinking of selling or buying a home in Northern California: Central Valley (San Joaquin/Stanislaus Counties), East Bay (Alameda, Contra Costa Counties) and would like a free Home Seller's or Home Buyer's Handbook, please call us at Perfect Financial Solutions 866-750-8282 or direct 510-284-7721 or email at brooksrm2042@aol.com  HAPPY and SAFE HOLIDAY SEASON to you and your family & Friends!
the Mother and Daughter Real Estate Team ~ Short Sale Specialists

Perfect Financial Solutions - We care about our clients Real Estate needs
Tel.: 866-750-8282
Fax: 209-879-4601
http://www.motheranddaughterrealty.com
 
This post has been included in California Information San Joaquin County, CA Information
Post is included in group: Foreclosure Help and Prevention
Post is included in group: Posts to Localism
Post is included in group: Short Sales
Post is included in group: Short Sell Specialists & Pre-Foreclosure Education
Post is included in group: Short Sales Specialists

13 Comments on The Raw Facts on Default, Pre-Foreclosure, Short Sale and Foreclosure

Dear Rosemary,

This was an eye-opener!

Fortunately, this is not a major problem in my market.

Your advice was good!

Happy New Year!

Barbara

12/30/2007 12:50 AM by Barbara Delaney (Park Place REALTORS, Inc.)


Barbara ~ great that it is not as bad there in Virginia.  I have a friend that lives in Alexandria and she is always so surprised when I tell her how it is here.  Hopefully it will all better and soon.  Thanks for stopping by and Happy New Year to you and your family too.

12/30/2007 12:56 AM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


Rosemary, I also service Maryland and Virginia and I too was shocked by the market.  We are (or at least I am) not having a bad market.  Wow!!  If I can help in anyway let me know.  I like forming alliances across the country.  Together we can fight the negative and make it a constant positive. 

You have a wonderful New Year and keep in touch.  I have subscibed to your blog and associated with you.  Your blogs are really informative.

Get your own comment graphics @ ohmyspace.com

12/30/2007 02:26 AM by Vangie Williams - Real Estate with Personality (Exit Signature Realty - Serving Maryland and Virginia)


Vangie ~ Thank you so much for the drink.. thanks I needed that.  I am going to take it early! smile  Things are moving slow even with the vast number of foreclosures.  People are being slow moving.  I expect it will pick up at New Year.

12/30/2007 11:58 AM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


Hi, Rosemary: What a great compilation.  Very nice work.  There's a lot of good information listed there!  Happy New Year!

12/30/2007 07:42 PM by Fairbanks Real Estate Broker Jesse Clifton (Jesse & Kathy Clifton, REALTORS - 907.699.6024 - )


Sandi ~ Thank you very much and the same for you and your family.  Stay blessed and may we all have successful and prosperity in the 2008.

12/31/2007 07:31 PM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


A ton of great information!  I bookmarked it for future reading and reference.

01/01/2008 11:36 PM by Marsha Cleaveland, GRI, AHWD, CNE (Keller Williams Realty Professional Partners)


Marsha ~ thank you, that's exactly what I posted it for ~ reference.  Thanks for letting me know you find it useful.  I was thinking of updating it with newer posts to keep it all in one place.

Enjoy this new year.

01/02/2008 05:23 AM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


Thanks for the post Ms. Brooks, I'm trying to network with some people in the stockton area and help the homeowners save their home, short sales are great if they want to sale but Loss Mitigation is an even better way to help the homeowner save their number 1 asset. for more information visit www.PreforeclosureUSA.com/craigcooper and help save homes.

 

To Our Mutual success

Craig Cooper

1-800-679-7042 x 5700

03/11/2008 02:19 PM by Craig Cooper (Freedom Foreclosure Prevention Services)


Craig ~ thanks for the call.  I wish you the best with your company.  Helping people save their home is a good thing.

03/11/2008 08:24 PM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


Hello Ms. Brooks,

Craig here my updated information www.lossmittraining.com if you are looking to enhance you business. how the biz going, keep posting

it was nice to speak with you as well, remember we have been saving homes using Loss Mitigation with a 98% success rate, 

have a great day

Craig Cooper

800-679-7042 Ext 5701

www.PreforeclosureUsa.com/craigcooper  to save your home

05/07/2008 06:52 PM by Craig Cooper (Freedom Foreclosure Prevention Services)


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Real Estate Agent: Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)
Rosemary Brooks -Mother & Daughter (866)-750-8282
Stockton, CA
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Family Realty Group - 866-750-8282

Office Phone: (866) 750-8282
Cell Phone: (209) 627-9119
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www.motheranddaughterrealty.com Mother of FAMILY REALTY GROUP - Mother and Daughter Team. I truly enjoy helping others and working with my daughter has added value to my life and business! Call or TEXT me 866-750-8282 GetDownpayment.com Call brooksrm2042 from your phone! AssignREO agent directory NationalHomeSearch.com website stats Rosemary, Real Estate Professional in 95304 Agents Online Idea Center Real Estate Forums Real Estate Blogs Directory - Directory of real estate blogs
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