Smith Real Estate Services, Inc./RE/MAX Gold

It's a sign of the times!

Mon, 13 Feb 2012 11:14:32 GMT

Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled.

But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll. Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current estimates are that one in four homeowners owe more on their mortgages than they could get from the sale of their home. Millions more homes will be lost to foreclosure before this real estate crisis runs its course.

The sad fact is that foreclosure is not an isolated event. For months leading up to the loss of a home, financially strapped homeowners live under a cloud of uncertainty. And then for many years afterwards, the blow to credit gets in the way of buying another home or buying anything on credit. Foreclosure even complicates employment prospects.

The impact of foreclosure is huge and the sad fact is that it’s often avoidable.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation (meaing I am among the best trained in the world to help you), my mission is to provide financially strapped homeowners with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

Among the most important facts to keep in mind: the sooner help is sought, the better the options.

These are tough times, but more help is available than ever before. If you or someone you care about is ready to navigate away from the dark cloud of an unmanageable mortgage and realize that hope and blue skies are within reach, contact me today and let’s get started.

Sheryl Smith, CDPE

Smith Real Estate Services, Inc./REMAX Gold

916-939-2040 or sheryl@smithssell.com

El Dorado Hills Stats Tell The Story

Fri, 26 Aug 2011 12:51:28 GMT

As real estate professionals, our Multiple Listing Service (MLS) is a key source of statistical information in our area. As distressed property specialists, Foreclosure Radar is another key source we use.

According to MLS today, there are 46 homes that are bank owned and for sale in in El Dorado Hills CA. There are 160 homes that are listed as short sales in El Dorado Hills.

According to Foreclosure Radar, there are 55 bank owned homes in El Dorado Hills and 233 homes in some stage of foreclosure.

Why the difference? Some bank owned homes still have people living in them and some homes the banks have in "pre-marketing" stage. This means they are not all for sale right now but they will be.

Because not everyone who is in foreclosure is trying to sell their home, not every home that is in foreclosure is listed for sale. Many people are attempting loan modifications, even though the success rate for loan modifications is only about 7% nationally. Sadly, some people have just given up and are just waiting for the foreclosure to happen. All of this can account for the difference in the numbers reported.

If you can no longer make your mortgage payment, there are options. As professionals experienced in successfully helping many distressed homeowners, we can help you with your specific situation. Call us. It's free and there is no obligation

What's the Truth in Folsom?

Thu, 25 Aug 2011 20:44:52 GMT

There are 2 key places we look for actual statistics about our market, our Multiple Listing Service (MLS) and Foreclosure Radar.

According to MLS today, there are 46 homes that are bank owned and for sale in Folsom CA. There are 194 homes that are short sales listed in Folsom.

According to Foreclosure Radar, there are 71 homes in Folsom that are bank owned and 336 homes in some stage of foreclosure.

Why the difference? Because not all homes that the bank owned are ready for sale yet. Some still have people living in them and some homes are in "pre-marketing" stage.

As for the short sale discrepancy, that's because not everyone who is in foreclosure is trying to sell their home. Many are attempting loan modifications, even though the success rate for loan modifications is less than 10% nationally. Sadly, some people have just given up and are just waiting for the foreclosure to happen.

There are options if you can no longer make your mortgage payment. Call us so we can help you with your specific situation.

Zinfandel Village Home Values Hit Low

Wed, 08 Jun 2011 17:47:18 GMT

Rancho Cordova CA had a problem in the early 2000's because while they were a major hub for jobs, the exectives in those jobs couldn't find desirable housing nearby. In 2005, near the peak of residential property values, Zinfandel Village began selling homes. Consequently, the exective style homes there sold very well. Many had desirable upgrades and larger than average sized lots.

A few years later, a Lowes' anchored shopping center was tenanted nearby giving residents of Zinfandel Village additional shopping and dining options. By this time, home values were declining making it a popular place to buy for workers in Rancho Cordova businesses.

In the 95670 zip code, homes that were 1,900 sf and above, built in 2004 or later, had an average price per square foot (psf) of $205 in May 2005. Here we are 6 years later and that average is just $117 psf. That is a drop in value of 41.6% in the past 6 years according to TrendVision, a company that tracks residential property trends.

If you own a home in Zinfandel Village and are having trouble paying your mortgage due to a verifiable hardship, a short sale may be an answer to your problem.. We had a listing in Zinfandel Village that generated lots of activity and it sold to a happy new owner earlier this week. The original homeowner is now free of that burden. Let us help you, too.

Banks Will Foreclose While You Are Doing a Loan Mod

Fri, 27 May 2011 15:40:01 GMT

We are hearing more and more people tell us that while they were working on doing a loan modification, the banks are setting auction dates to foreclose on the home. Don't let this happen to you!

When loan payments are missed, banks often have 2 departments to manage this: foreclosure and loss mitigation. The job of the foreclosure department is to foreclose on your home when you are not making payments. The job to the loss mitigation department is to see what can be done so that you can avoid foreclosure.

Sadly, often these departments do not communicate with each other. So while you are waiting to see if your loan modification will be approved, the foreclosue department may be pushing you toward foreclosure.

If you are late with payments, contact a real estate professional that is experienced in successfully helping homeowners avoid foreclosure and that you like, trust and understand. They should be able to answer your questions and explain what is happening in your specific situation so that you understand it. If they cannot, find someone else. The CDPE designation after someone's name is a good place to start.

Veteran Almost Lost Home to Foreclosure!

Sat, 21 May 2011 12:29:26 GMT

I have a client who is a veteran in Sacramento, CA with a VA loan with a major lender. He received a copy of his Notice of Default (NOD) from the court several months ago, alerting him that the bank had begun foreclosure proceedings against him. In the meantime, we submitted an offer to his lender for consideration as a short sale.

When doing my weekly check with the lender for "updates" on the short sale, I was told the home was set for foreclosure sale in 2 weeks. I immediately contacted my client to see if he received a Notice of Trustee Sale (NOTS) from the court notifying him that the home was set for an actual sale date. He said no.

I then contacted the bank and was told that as long as they post the notice in public periodicals, they have no obligation in the State of California to do anything more to notify the borrower of the imminent sale. This was a shock because with every other lender I've worked with, the NOTS comes to the borrower by certified mail.

What is important here is that if you are expecting to get some notice that your home is being imminently sold thru the foreclosure process, you may not get any beyond the NOD. Working with a diligent professional on a short sale is what allowed this veteran to obtain a postponement on the foreclosure of his home. This postponement allows the bank time to determine if the short sale on this home is their best option thus allowing this veteran to avoid foreclosure.

Short Sales Lead Sales in Folsom

Wed, 18 May 2011 16:20:50 GMT

Today, 5/18/11, there are 364 homes actively listed for sale in Folsom. Only 32 of those are bank owned and 199 are short sales. Short sales in Folsom represent 54.7% of the homes listed.

Home sales in Folsom for the first part of this year are up 7.5% as compared with the same term last year. The average price of homes sold in Folsom so far this year is down 9.1% compared with the same term last year.

This means that if you are looking to sell your home, you will get less right now than you would have gotten a year ago. The indicators show that we are not at the bottom yet. So, if you are having trouble keeping up with your mortgage, now is a great time to take action. Buyers are out looking for homes with rates so low. It might as well be your home that they find and buy, right?

Do You Want This Person On Your Side?

Mon, 03 Jan 2011 11:03:40 GMT

Are you in Folsom or El Dorado Hills, CA and need help getting out from under a mortgage that is worth more than the current value of your home? How would you like someone with these values to help you?

Freedom: Being able to do what I want to do when I want to do it

Expertise: Getting whatever training I need so that I have the skill and confidence to provide true value to my clients

Belief: I believe that God is in charge and that each day is a new opportunity to make the future better than today

Loyalty: You can count on me to be in your corner through good times and bad if I care about you and I expect the same from you.

Encourager: I want people to say about me, “I like me better when I’m with you” because I lift them up so they have the belief that tomorrow can be better than today.

These are my core values and I have the skill and desire to help you, the belief that I can help you and I will do what it takes to get you freedom from the financial bondage that you are currently in.

If you want someone with these values on your side, let's talk today about how to get you the help you need to move on with your life.

What is Your Financial Annual Ritual?

Fri, 31 Dec 2010 14:35:19 GMT

It is December 31, 2010 and tomorrow I will complete what has become an annual financial ritual. On January 1st of each year I calculate my net worth. This includes knowing my exact bank and/or investment account balances, knowing current car and home values as well as what I owe on these items, any money that is owed to me and any balances on credit cards or other loans.

Looking back at these “net worth” reports over the years shows me if my financial situation is improving or declining. When a home is worth less than what is owed on the mortgage, that has a disastrous effect on your net worth. If you, like me, want your net worth to improve, getting out from under a mortgage that is more than your home’s value could be the most profitable decision you make in 2011.

Speak with an experienced Realtor in your area and find out the truth about what your home is worth in today’s market. Then compare that to the amount that you still owe on your mortgage. If the amount owed is higher than the current value AND you have been hit in this economy with a verifiable financial hardship, it’s important to understand your options.

In the greater Sacramento Region of California, we help people achieve their real estate goals. Call us so we can help you make 2011 better financially than 2010.

My Sister Lost Her Home :(

Thu, 30 Dec 2010 11:56:39 GMT

12/27/10

My Sister Lost Her Home :(

It's Christmas when all is to be merry and bright. Sadly, I learned that my very own sister lost her home to foreclosure earlier this year! The really sad part is that they had equity in the home. How did this happen?

She married a man who already owned the home so she was not on title nor on the note. He did not keep the payments current and they lost the home. I did not want to "bother" my family with the fact that I help people who are in foreclosure understand their options. I didn't think anyone I knew was in that kind of trouble.

Unfortunately, I was wrong and my silence caused a major "problem" in my sister's life. I could have helped her understand her options and they could have avoided foreclosure and all of the negative baggage foreclosure brings.

Because of this personal story, my new mission is to let everyone know that I can help when someone is unable to keep current on their mortgage. The help might be in giving a perspective on the specific stage of the process they are in or it might be helping you see if a short sale is a viable option for you.

The important thing to know is that you MUST take action to avoid foreclosure. Doing nothing makes you a victim waiting for the bank to take your home. They don't want to take it but in the absence of working with you toward a better solution, the bank will.

As your Folsom and El Dorado Hills short sale solution provider, call me and let me help you move on with your life. This is an easy action step to take. We want to help and we can...once you ask.

Sheryl Smith, CCIM, CDPE
916-282-6399

Will The Foreclosure Freeze Save Your Home?

Tue, 26 Oct 2010 16:21:24 GMT

As Ally Financial, Bank of America and JPMorgan Chase review their foreclosure processes across the country, many distressed homeowners looking to avoid foreclosure are wondering what this means to them.

There is a common misconception among homeowners that the so-called foreclosure freezes translate into a ‘get-out-of-my-mortgage-free’ card. This simply isn’t so. It is vital for homeowners facing foreclosure to understand that there are other, more beneficial options, including short sales.

A short sale occurs when the lien holder accepts the sale price of a property that is less than the borrower’s mortgage balance. Short sales have become an increasingly utilized alternative to foreclosure. In Sacramento County so far this year, short sales accounted for 24.6% of the homes sold, according to Metrolist. During this same term in 2009, short sales only accounted for 15.2% of the homes sold. Lender Processing Services (LPS) also estimates that more than seven million mortgages are either delinquent or in the foreclosure process nationally.

Starting in September, major lenders initially began freezing foreclosure procedures in the 23 states requiring a judicial review. Bank of America and Ally have since resumed foreclosures in these states, continuing to review their processes, and JPMorgan has yet to lift its temporary suspension.

While some of these lenders have restarted their foreclosure process, homeowners remain generally uninformed of what this means to their individual situations, Homeowners facing financial hardships deserve to know the options available to them, and that lenders are willing to work toward alternatives to foreclosure. When you work with an agent experienced in successful short sale negotiations, you could be one of the short sale success stories.

The CDPE Designation we earned provides us with the tools and knowledge needed to efficiently, ethically and effectively pursue foreclosure alternatives, specifically short sales. In addition to our initial training, we remain connected to a network of professionals via the Distressed Property Institute, allowing us to remain regularly updated on the complex and quickly changing real estate market.

Relief is available. Contact us today.

Avoid Foreclosure on Your Terms

Wed, 20 Oct 2010 10:55:29 GMT

Something bad happened to you and you can no longer make your mortgage payments. It may have been a lost job or a cut in hours or possibly your mortgage payment is going up and you can't afford the increase or you may be going through a divorce. Either way, you are worried about what you are going to do now and how you can avoid foreclosure on your home.

When a bad change happens, we all go through the beginning stage of the change in a similar way...worried and asking ourselves “What now?” While we start in that same state, the truth is that both during and after the "change", you can take some control over what happens. Let me explain.

When you are unable to make your mortgage payment over an extended period of time, the lender will eventually take your home through the process of foreclosure. If that happens, the bank is in control of your financial future.

When you choose to take action to avoid foreclosure, you are making a positive step toward taking control of your financial future. The action you take could be varied. What is important to know is that you MUST take action to avoid foreclosure.

Secondly, understand that it is often not a single action that you will take to remain in some state of control. The foreclosure process is full of twists and turns. For example, you may choose a loan modification as your first action. Great. Then what do you do if the loan modification you are offered is not something you will accept or if your request for the loan modification is rejected? Is this the end of your action?

NO! It is simply one step in your strategy to retain some control over your financial life and avoid foreclosure. Get help from experienced professionals who really understand the foreclosure process and together, you can plan a strategy to retain some control of your financial future.

How will you know if you have a real estate agent who is skilled in helping distressed homeowners? Ask yourself: Are they educating me about the foreclosure process and my options or do they just want to list my home as a short sale? How much education did they get on the topic and from where? What is their success rate with past distressed homeowners? Are they answering my questions in a way that builds my confidence that I will get relief? If the answer is yes to these questions, then you likely have an agent who is experienced in distressed homes.

Are You on the EDGE of Losing Your Home?

Sat, 09 Oct 2010 15:11:44 GMT

According the the statistics in Metrolist, the local firm that tracks local residential real estate statistics, 47% of the homes that sold in Sept 2010 in El Dorado Hills, CA were distressed. In Folsom, CA, the number was 51%. In Sacramento County, the number was a whopping 64%.

Distressed means that the home was either owned by a homeowner that owed more on the home than it is currently worth or that the home was already owned by the bank.

When you hear in the news that foreclosures are being stalled, you are beginning to understand why in the Sacramento area this is such a big deal. And yet, if your home is one of those statistics, you probably have questions. For answers, get our free report.

As long as your name is on title for the home, you still have options. If have missed some home loan payments or will miss making payments soon, take action. Otherwise, the bank will eventually foreclosure on you and take your home back. Don't let that happen to you. We can help.

Don't Risk Your Financial Life!

Tue, 05 Oct 2010 14:51:51 GMT

Are thinking of walking away from your mortgage because you tried a loan modification and it didn’t work or you are just sick of paying for a home that is worth less than you are paying? You are not alone. In fact it is so common that there is a name for this, namely “strategic default”.

There are many reasons to think long and hard before “walking away” from an upside down mortgage. The specific reason we will address today is the potential liability of such a decision. I was speaking with Amy Michel of Farmer’s Insurance in Rancho Cordova CA about this topic. Here is what she shared:

Sheryl: Most homeowners have insurance coverage on their home. Can they just keep that policy active after they move out?

Amy: Once a homeowner decides to “walk away” from a home, they often stop paying the insurance premium. Additionally, when a homeowner stops making payments on their mortgage, the bank typically notifies the insurance company that the home is vacant. Insurance companies hate vacant homes due to the increased liability. So, once the insurance company learns that home is vacant, they will typically exclude vandalism and malicious intent as covered items.

When it is time to renew the policy, the premium to cover the “vacant” home increases significantly or in some cases, the policy may not be renewed it at all by the insurance company

Sheryl: Do you find that most homeowners pay the increased premium, if offered?

Amy: The insurance on a vacant home costs significantly more than on an occupied home so many homeowners elect not to keep the coverage. The problem with this is that as long as the homeowners name is on title, that homeowner is still liable for any damage that happens to the home.

Sheryl: What if something happens to the home while vacant but prior to the insurance company knowing that the home is vacant and the homeowner’s policy is still active?

Amy: The insurance company will determine what caused the damage to the home. If the damage was tied to an “excluded” item, the cost to repair the problem would not be paid by the insurance company. This means the homeowner who “walked away” would be bound to cure the damage. If it is determined that the damage had nothing to do with an “excluded” item, the insurance company would be bound to cover it. Of course at this point, the insurance company would know the home is vacant and we already talked about what happens in that case.

Sheryl: That sounds pretty risky to the homeowner. Once the bank knows the home is vacant, don’t they put insurance coverage to the home?

Amy: Yes but only to cover the banks interests. If there is a liability claim against the homeowner, the banks’ insurance coverage will not benefit the homeowner.

Sheryl: In addition to the liability coverage, is there any other benefit to the homeowner to keep their coverage active?

Amy: Yes. If there is a liability claim against the homeowner that is covered by the insurance company, the insurance company handles the defense. Without that coverage, the homeowner would handle their own defense and attorney costs are very high.

As you can see, just “walking away” from a mortgage has many risks. As long as the homeowner still owns the home, they are at risk. They’re not being in the home anymore does not eliminate their responsibility to that property. This all needs to be considered by anyone who is considering options to owning a home that is worth less than what is owed.

If you have any questions about insurance liability feel free to contact amy.seisner@farmersagency.com. Of course, strategic defaults involve more than insurance and we can help you with that.

El Dorado Hills Cancels More Trustee Sales

Fri, 24 Sep 2010 14:58:47 GMT

Here is a short report on foreclosure activity in El Dorado Hills in August 2010.

The average number of days to foreclosure in El Dorado Hills in August 2010 is 183 which are down 12% from a year ago. Both Notice of Defaults and Notice of Trustee sales are down as compared with 1 year ago as well.

REO's in El Dorado Hills are down and the number of Trustee Sales that were cancelled is up significantly year over year. This supports what I wrote in my blog yesterday, namely that lenders would prefer that distressed borrowers do a short sale rather than the bank taking the home back thru a foreclosure action.

If you are a distressed homeowner in El Dorado Hills, CA, let us help you thru this trying time. If you have to move anyway, why not make it on your terms rather than the banks? We can help.

Folsom REO's are Down

Fri, 24 Sep 2010 14:51:57 GMT

Here is a short report on Folsom's foreclosure activity in August 2010.

The average number of days to foreclosure in Folsom in August 2010 is 193 which is up 6 from a year ago. Both Notice of Defaults and Notice of Trustee sales are also up as compared with 1 year ago. The peak was in June of 2010.

REO's in Folsom are down and the number of Trustee Sales that were cancelled are up significantly year over year. This supports what I wrote in my blog yesterday, namely that lenders would prefer that distressed borrowers do a short sale rather than the bank taking the home back thru a foreclosure action.

If you are a distressed homeowner in Folsom, let us help you thru this trying time. If you have to move anyway, why not make it on your terms rather than the banks? We can help.

Sacramento Distressed Home Market is Shifting

Thu, 23 Sep 2010 16:29:03 GMT

63% of homes sold in Sacramento County in August 2010 were distressed according to the Trendgraphix reports in Metrolist, The term "distressed" in this article includes both short sales and bank owned properties. This is down slightly from 66% just one year ago.

What is different about this number of distressed home sales is the makeup of the numbers. In August 2010, short sales accounted for 27% of the homes sold while just 1 year ago, that number was only 19%. Homes sold that were bank owned in August 2010 accounted for 36% which is down from the 47% of one year ago.

The number of Notices of Default (NOD's) is down while the numbers of homes that are "distressed" are up. What does this all mean? In a word, in means that lenders would prefer to liquidate assets in the pre-foreclosure stage rather than take them back as bank owned. In order to accomplish this, lenders are talking with distressed homeowners to determine if the borrower can afford to stay in the home or not.

If the homeowner has a hardship and can afford the mortgage with some assistance, the lender will explore the possibility of a loan modification with the borrower. If the homeowner does not qualify for a loan modification, then the bank would suggest that borrower short sale the home or in some cases will offer the borrower a Deed in Lieu of Foreclosure option.

Lenders are moving now to determine which category the distressed homeowner is in. Once the bank has determined that the homeowner cannot afford the mortgage and the homeowner is not proceeding with the short sale or Deed in Lieu options, the bank will take the home back through foreclosure.

Don't let foreclosure happen to you unnecessarily. As long as you are the owner of the home, you do have options. Having a foreclosure on your record will negatively affect your life in the future so take action now to improve your financial future. If you are in the greater Sacramento region, we can help.

Sacramento County Foreclosures are Daunting!

Mon, 20 Sep 2010 19:27:16 GMT

In Sacramento County, there are 2,615 homes in some stage of foreclosure according to Realty Trac. Folsom, CA is the #5 largest number of foreclosures at 156. This represents 1 in 134 housing units. How does the rest of Sacramento County rank?

1. Elk Grove has 669 housing units in foreclosure which is 1 in 50.

2. Citrus Heights has 296 housing units in foreclosure which is 1 in 137.

3. Antelope has 227 housing units in forclosure which is 1 in 61.

4. Rancho Cordova has 226 housing units in foreclosure which is 1 in 102.

This data suggest that while Elk Grove remains at the top of the ranking for foreclosures on housing units, depending on how you look at it, either Citrus Heights or Antelope are #2. If you go by housing units, clearly Citrus Heights is #2. However, if you go by the density, then Antelope is #2. Either way, there are a lot of homes in Sacramento County in some stage of foreclosure.

If you are one of these homeowners, don't sit back passively and let the bank take your home through foreclosure! You can take action to learn your options.

When the price of a poor choice in advice is your home, choose your agent wisely.

Shadow Inventory in Folsom & El Dorado Hills

Mon, 20 Sep 2010 19:03:00 GMT

Have you been hearing about "shadow inventory" lately? The term has been lingering for about a year now so here is an update on some facts in the Folsom and El Dorado Hills real estate markets.

In Folsom, there are 485 homes in some stage of foreclosure. Of those, only 77 (16%) are bank owned. The remaining 408 homes are on their way to becoming bank owned (or REO) if the homeowner sits back passively waiting for the bank to foreclose.

What about El Dorado Hills? There are 401 homes in some stage of foreclosure yet only 71 (18%) are bank owned. The remaining 330 homeowners in El Dorado Hills and 408 defaulting homeowners in Folsom can all take action to avoid foreclosure. These 330 and 408 homes respectively are part of what is known as "shadow inventory".

Once the bank files a Notice of Default (NOD), the home is in some stage of foreclosure and somehow, the home must get out of foreclosure. Sadly, the way most homes in default have gotten out is by being foreclosured on. That does not have to happen to you!

You will have to move whether you sell your home or let the bank take it through foreclosure. The thing is there are significant differences to you in the future depending on if you choose to take an active role now and learn about your choices or do nothing.

Don't be one of the 7 in 10 people who are foreclosed on who never get the help of a real estate professional that specializes in helping distressed homeowners. Whether you get one of our free reports or you call us, take action.

Foreclosure vs. Short Sale...Which is best for you?

Wed, 08 Sep 2010 14:11:00 GMT

If you are in danger of losing your home, it can be hard to take action. It may seem hopeless and you may just become resolved to what is happening. Here is the truth. Up until the time the bank takes the home through the action of foreclosure, you are the owner of your home. This is true even though the bank keeps calling and sending threatening letters. As a homeowner, you still have rights.

The question is, when do you lose your rights as a homeowner? The answer is your rights are gone once the bank becomes the owner of the property again, which is after the trustee sale is completed. Let's review the process.

If you ever miss at least one payment (depending on the state), the bank has the right to file a Notice of Default (NOD). You will recieve notice of this action. NOTE: A NOD is a matter of public record which means real estate agents are likely to start contacting you about listing your home as a short sale. Unfortunately, not all of these agents are educated about what it takes to get your home approved for a short sale, so be cautious about who you choose during this time.

90 days after the NOD is filed, the bank must notify you of the Notice of Sale (NOS). They are also required to post the NOS in a legal journal. This notice must be posted for 3 weeks in the legal journal. At the end of that 3 weeks of posting, the trustee sale can occur.

Be aware that the bank has the right delay the trustee sale and they often do so if there is an offer in the works. This is another reason why you need to choose your agent wisely. Many a homeowner thought their short sale was in the process of approval only to learn that the home was sold at the trustee sale. An agent who is educated in the process of short sales and who has your best interests in mind will watch these details.

A short sale can be a dignified solution to your current distress over your mortgage whereas in a foreclosure, you lose your rights. Your lost rights are really only a part of what you stand to lose in a foreclosure.

Take action today and get your free copy of our report Short Sale vs. Foreclosure. This will give you some facts about the difference between life with a foreclosure vs. life with a short sale.

Sheryl Smith, CDPE is CA DRE Broker #01381095 and helps people list and sell homes in Folsom, El Dorado Hills and the greater Sacramento, CA area. She is not an attorney or tax professional.

How Hard Is Your Credit Hit with a Foreclosure?

Mon, 23 Aug 2010 13:59:28 GMT

We spend our lives building up our credit score as high as possible by paying our bills on time. We do this so that we can obtain loans and the best interest rate possible. Sadly, if we lose a job, have health issues or suffer a divorce and are unable to pay our bills for a time, this credit score that we worked so hard for will be damaged.

Take heart because there are things that you can do to minimize that damage. Answers are available to you about how a foreclosure can affect your credit score. Being informed is a first step to being empowered, especially during this difficult time.

In addition to concerns about a potential deficiency judgement and tax consequences, the credit score is a huge concern for homeowners who get behind on their mortgages. Let us be your trusted resource for the specific information you want. We are here to help.

Take action today and get a free copy of our report about credit score issues due to having a short sale vs. a foreclosure on your record.

Sheryl Smith, CDPE is CA DRE Broker #01381095 and helps people list and sell homes in Folsom, El Dorado Hills and the greater Sacramento, CA area. She is not an attorney or tax professional.

Government Program Surveys

Are You Eligible?

The government programs currently available to homeowners can be valuable resources, but only if you know which ones are right for your situation.

That’s why I’ve created this free resource that lets you find out which programs you’re eligible for. Read the descriptions for each program to see which one fits your situation, then fill out the corresponding survey to see if you are eligible.

Are you eligible?

The good news is that programs exist for a variety of situations, and even more options are available beyond those programs. As a CDPE-designated agent, I can provide all of your possibilities and help you get moving toward a solution.

Cash for Short Sales

Short Sales are More Valuable Than Ever!

Avoiding foreclosure is always a smart move, but now there are incentives that make it an even better one.

Short sales and deeds-in-lieu are dignified solutions to foreclosure, and now the government is making them easier and quicker through the Home Affordable Foreclosure Alternatives Program, or HAFA, which also gives the homeowner $3,000 for participating.

With the free report provided here, you can learn all the benefits of completing a HAFA short sale. Simply fill out your information below for details on the program and how you would benefit.

Please read this report to learn the facts, and contact me to start exploring solutions.

Change the Course!

You Can Change the Course!

If you feel like shifting economic winds have not been in your favor lately, you are in good company. More than 6 million homeowners nationwide are in some stage of foreclosure.

If this is the case with you or someone you care about, you are all too aware of the stress and uncertainty that accompanies notices of default, unwanted phone calls and offers of help that turn out to be no help at all.

The fact is, the last thing your bank wants is to foreclose on your home. Banks are willing to negotiate, and you need someone on your side who is adept at negotiating with banks.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I am tapped into the best solutions for helping financially distressed homeowners to make a fresh start. If you'd like to learn more, I invite you to access my free report: "Change the Course! And Navigate Away from an Unmanageable Mortgage."

Contact me today and let's get started!

Don't Walk Away From Your Mortgage

Stop Don't Walk Away From Your Mortgage

At a Crossroads?

Walking away or "strategically defaulting" on your mortgage is not the answer. You will find that there is nothing strategic about foreclosure, especially when there are solutions to avoid it.

You should know that you have options, and that you are not alone. More than 25% of American homeowners now owe more than what their homes are worth, and millions more are having a hard time paying their mortgages.

I've developed a free, detailed report on foreclosure alternatives you can download below. Download it today and give yourself a green light for a solid financial future.

The sooner you take this step, the more time you'll have to act and move toward a more promising tomorrow.