Real Estate Agent with Keller Williams Realty 0590712

Eight Reasons You DEFINITELY Want To Prevent a Foreclosure...

1. You will always have to disclose that you have had a foreclosure on aniy mortgage application in the future and this will have an adverse affect on your mortgage rate.  This is the only credit item that is asked specifically and does not rely on what is on your credit report. THERE IS NO SEVEN-YEAR LIMIT ON THIS ITEM!
2.  Your credit scores will be lowered by 300+ points and a foreclosure is the most devastating credit issue you can have in relation to future credit availability.
3.  A foreclosure is the one credit report item that is almost impossible to have repaired.
4.  Your lender can seek a deficiency judgment against you and collect for any amount they do not recuperate at a bank sale plus their cost to foreclose.
5.  Many employers run credit checks on prospective employees and foreclosure is one of the top items that will put a potential new hire in jeopardy.
6. Security clearances and government positions including but not limited to military and law enforcement can be jeopardized by a foreclosure.
7.  You may be responsible for any deficiencies after foreclosure for an indeterminate period of time depending on the state you live in AND can land you as the foreclosed home owner in a never ending collection cycle.
8.  As your CDPE (Certified Distressed Property Expert) Realtor I will explore every option with you and work towards a successful resolution.  NEVER A CHARGE OR FEE!  Call NOW BEFORE IT'S TOO LATE.

Learn more about why we are in such a mess: (click on Foreclosure Alternatives then click on Foreclosure Wars White Paper in the upper left).


Comments (7)

Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

I have come across too many instances in the past five years where your advice was not an option.  Sometimes circumstances can't be changed.

Jul 16, 2011 04:54 AM
Edward Goldfarb 450 Short Sale Approvals - 1750 Sales
Keller Williams Realty - Fort Lauderdale, FL


Thank you for the  comment.  From the last horrific four years of working short sales and 250+ approvals there are only two reasons I can think of that would preclude a short sale over foreclosure, foreign national that moves back to their country and unooperative borrower.  My clients includes lawyers, doctors, military and Federal officiers.  Most of my clients are home owners in trouble.  Remember, Florida is #2 in distressed properties and 90% of my sales are short sales.  I hope Colorado never falls into this ugly pit.  We do not farm out our short sales and handle them ourselves that's why I've never had a cooperative client foreclosed.  I've written several pieces: "Foreclosure Wars White Paper",  "32 Point Streamline Short Sale Plan", and the following which is a little graphic, but necessary considering the magnitude of the problem.  I have sent it to the media without getting a response:

The fingerprints of Wall Street, et al can easily be found all over the corpse of the bludgeoned and decapitated housing market that led to our economic collapse. The willful, thoughtful, planned and brilliantly executed rape and premeditated murder of the housing market should not go unpunished! These VERY FEW criminals that breached their fiduciary and positions of trust are directly, solely and criminally responsible for the conspiracy that defrauded the American home owners for their personal gain and the creation of their obscene wealth. While they are, without a shadow of doubt, guilty of defrauding 130 million American home owners they are still allowed to continue to rape the dead corpse. Further evidenced by post mortem examination will reveal their narcoleptic greed is today still leaving fresh semen deep inside every orifice of the mutilated corpse. The result is 50 millions Americans are now out of work, six million American families have been forced into foreclosure, millions of Americans have lost their life savings and are literally homeless. Why are they so openly and blatantly still living their grandioso, conspicuously consumptive lifestyles on the remains of those innocent families they have methodically consumed? Maybe these numbers are just too small to care about? Maybe it's not important enough that these "monogrammed cuffed" criminals continued to exercise fraud, corruption and influence over Wall Street, the banks and, more importantly the government. Why aren't you pushing for each and everyone of these criminals to be prosecuted?
Edward Goldfarb

Jul 16, 2011 05:42 AM
Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

I love your passion, and they should be prosecuted.  I have had a few, however, where the culmination of events took their lasting toll, including some phenomenal bank errors.

Jul 16, 2011 06:14 AM
Edward Goldfarb 450 Short Sale Approvals - 1750 Sales
Keller Williams Realty - Fort Lauderdale, FL

The servicers certainly have their share of colassal screw ups.  I suggest you get these two documentary's:  "Too Big To Fail" and "Inside Job".  They are on Netflix or at Blockbusters.  If you send your email address I will send "Foreclosure Wars"  and "32 Point Streamline Short Sale Plan".  Want to see why I am so angry?  Get them?  They back up my own research.



Jul 16, 2011 06:31 AM
Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

Because I am so incensed at injustice, I will honestly say that I will try to watch them :)  Thanks, and feel free to email them to me . . . 

Jul 16, 2011 08:20 AM
Kimberley Kelly, SFR, HAFA, GREEN
HK Lane, Christie's International Affiliate, 760-285-3578 - La Quinta, CA
I do Real Estate like I played polo-to WIN!

I'm in the Palm Springs area of California..very similar to Florida in it's decimation, but very different in it's handling of Short Sales because we are non-judicial.  I've seen both these movies..recommend them highly.  I support your stance, but it's not going to change anytime soon.  Wall Street and the Corporate powers are running things..Banksters I like to call them.  However...I am helping hundreds of people get out of upside down mortgages and now with SB458 just put into law yesterday, the deficiency fears are being addressed for both first and second loans..


There are MANY more loans lingering..the HELOC's have not even been addressesd on the books by most banks..Short Sales are here to stay and yes, they are preferrable to Foreclosures.

Jul 17, 2011 02:44 AM
Edward Goldfarb 450 Short Sale Approvals - 1750 Sales
Keller Williams Realty - Fort Lauderdale, FL

I drop of hot water in a bucket thrown on you will not be noticed, but a whole bucket will.  I beleive most people have given up and/or conceded to the Banksters and "Congressters".  Let's keep the bucket nice and hot. 

Jul 17, 2011 06:56 AM