Summit Real Estate Group
Tony Lewis with RE/MAX of Valencia is a Trained Certified:
I am Dedicated to saving homes and preventing Foreclosures one home at a time!
Little know facts about "Distressed Properties and the Owner of these homes:
About 70% of all home owners that lose their home to foreclosure will never speak with the bank in time to save their home.
About 70% of all of the home owners that lose their home to a foreclosure never speak with a Realtor to fight to save their home or at least prevent having a foreclosure on their permanent record.
About 70% of the home owners that lose their home will not confide with their family or friends to seek help to prevent having a foreclosure on their record.
A Foreclosure is to be prevented by all legal means possible as this becomes a permanent record. Employers will find this when hiring or making a routine credit check of current employees.
A Short Sale impacts credit very little after 2 years. Fannie Mae & Freddie Mac will allow a purchase after 2 years of a Short Sale.
Banks and Lending Institutions now prefer to allow a Short Sale rather than the costly foreclosure process.
What you should do for those in a Distressed Property:
- Don't allow embarrassment to destroy one's credit.
- Have the home owner of a Distressed Property speak with their lender immediately upon knowing that the property is going into a distressed situation.
- Know that it is never too late until the lender owns the property. Contact someone for help until the end.
- Discuss the Distress Home situation with an Attorney, CPA and by all means contact your Realtor.
- First cure is a Loan Modification also attempt to reduce the balance, terms, payment and interest rate.
- The Lender will not allow a Short Sale and Modification at the same time. If the modification effort has been exhausted call your Realtor in hopes of stopping or putting the foreclosure process on hold while you attempt to have the home sold as a Short Sale.
- Know that it takes a lot of hard work on your part, your Realtors part and the Lenders part in order to be successful at selling your home as a Short Sale.
- Also know that the benefits of a Short Sale vs. a Foreclosure are worth the effort. It is not easy and you need to be working with a trained professional.
Short Sale Success is about 26% - With a C.D.P.E the Success Rate is closer to 80%
Call Tony Lewis with RE/MAX of Valencia & by all means refer those you know to Tony!
Remember Friends don't let Friends lose their home or destroy their Credit!
Call Tony to discuss anything to do with Real Estate or the SCV at 661-510-7975
Write, Call or Text Tony with questions about Valencia, Stevenson Ranch, The Santa Clarita Valley or Santa Clarita, Ca. - Cell Direct - 661-510-7975 Office-661-702-4720 Email firstname.lastname@example.org
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Learn more about one of the Safest Cities that Boasts Six Flags Magic Mountain, the Valencia Mall, TPC at Valencia Westridge Golf Course, The Paseo Club a Private Tennis, Swim and Golf Training Club. Top California Schools, Safety, Annual Events, Cleanliness, Friendly Neighborhoods, Community Involvement, Top PTA, Ice Skating Rinks, Colleges, Performing Arts Center & on and on...