Avoid Foreclosure and Get Your House Sold Today! Investors Ready to Buy Now!  If you have fallen behind on your mortgage or see that happening to you in the future there is an alternative to a foreclosure.  We can help you in one of two ways.  (1) You can sell your property to one of our investors today or (2) we can list your property for sale as a traditional short sale.  For a free 15 minute initial consultation call us direct at (850) 471-5020 or send an email to JackLara@kw.com.

                              911 Stop Foreclosures

Hello, my name is Jack Lara and I am a Certified Distressed Property Expert® (CDPE®). I have devoted my career to helping homeowners buy and sell for over 10 years. Now, many of us face difficult situations, some more than others. These economic times have taken a toll on many that thought they were immune to financial difficulties. People from all socioeconomic backgrounds have felt the devastating financial and psychological effects that a loss of a home can have on their lives. Now I find myself helping people like you avoid the prospect of a foreclosure. This is where I come in as a CDPE® to help you avoid a foreclosure.

 

What is a CDPE?

When your roofing needs to be replaced, you consult a roofing expert. When there's a problem with your computer, you consult a technician who understands the issues of your particular model. And when a loved one becomes sick, you seek answers from medical professionals specifically trained in that particular illness. Similarly, in this current economic crisis, millions of homeowners facing financial hardship and possible foreclosure action are requesting the help of agents with the Certified Distressed Property Expert® (CDPE®) designation. A CDPE® is a real estate professional with specific understanding of the complex issues that confront homeowners in distress. Through comprehensive training and market experience, a CDPE® is able to provide real solutions for homeowners facing hardships in today's market.

What is a Short Sale?

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions.

A homeowner is 'short' when the amount owed on his/her property is higher than current market value. A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage. For particular homeowners, this can be the best option to foreclosure. Yet, I still hear people suggest that short sales are basically the same as foreclosure. This is absolutely wrong!

For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

  1. Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
  2. Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  3. Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

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Why would a Lender Agree to a Short Sale?

A lender may be able to save Money by doing a "short sale" instead of a foreclosure. A foreclosure is a very costly proposition to your lender. Remember your lender is in the business of making loans and not owning real estate. They do not want to be in the real estate sales business either. A foreclosure on average will cost the lender from 35% to 50% or as high as 70% of the property value.

Seek legal and tax advice. You will want to avoid a deficiency judgment (where the bank sues you for the money they lost).

FREE INFORMATION LINKS

Does the Mortgage Forgiveness Debt Relief Act apply to all forgiven or cancelled debts?
No. The Act applies only to forgiven or cancelled debt used to buy, build or substantially improve your principal residence, or to refinance debt incurred for those purposes. In addition, the debt must be secured by the home. This is known as qualified principal residence indebtedness. The maximum amount you can treat as qualified principal residence indebtedness is $2 million or $1 million if married filing separately

Short Sale Info  

What is a Loan Modification and would a lender agree to a loan modification???

History Repeats Itself, The Mortgage Crisis Today The main difference between the S&L Crisis and what is now being called the Subprime lending Crisis is that during the S&L crisis institutions were the principals in the majority of the mortgages that went bad. These defaults caused the market collapse described above.

Insider Tips

Reasons to Avoid ForeclosureYou would be surprised how many times a homeowner in foreclosure will have given up, perhaps because they don’t understand the process or feel like they no longer care. DO NOT GIVE UP! Here is why.........You will always have to disclose that you had a foreclosure on any mortgage application submitted in the future and this can have an adverse affect on your future mortgage rates. This is the only credit item that is asked specifically and does not rely on what is on an individual’s credit report.

Other Options for Homeowners facing Possible Foreclosure

HELPFUL WEBSITES for Additional Information

Loan modification info and refinance info Making Home Affordable.com

Visit Freddie Mac's Website for Housing Info, Avoiding Foreclosure, Avoiding Scams

Loan Modification Prior to contacting your mortgage lender you can quickly complete an eligibility test at  Making Home Affordable.com This test will let you know if you are eligible for a modification through the government-sponsored Home Affordability and Stability Program (HASP). For a list of mortgage lenders and servicers, visit HopeNow.org 

Mortgage News - Financials

Certified Distressed Property Expert

 

                                                                                       "Jack Lara is not only an excellent real estate agent but he is even a better person. I trust that he will keep his client's best interests always in his heart. He is very efficient, trustworthy, and a hardworking man. If you hire Jack to do whatever you want he will always come through, he is kind of old fashion in that regard, a throwback to when a man's word meant something!" Nelda B. 

"Jack helped me get through buying my first home. I did not think I would be able to do it. Jack encouraged me and directed me the right way. He never gave up on me and because of that I was able to buy a Brand New Home!" Mary L. 

"He is a veteran of the industry and someone you need on your side during the process of buying or selling real estate. Jack is committed to doing the best job possible and to look out for the best interests of his clients. I would recommend him to anyone looking to buy or sell real estate.” Steve S.