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What is Foreclosure?
A legal process in which a lender takes the title or forces the sale of a property as a result of the borrower’s failure to comply with ther terms and conditions of the mortgage.
We are Certified Distressed Property Experts, specializing in Foreclosure Prevention and Short Sales. As CDPE’s, We can save 9 out of 10 families from going into foreclosure. If you or someone you know is behind on mortgage payments, and currently have a hardship, or foresee having a hardship in the future that will prevent you from making the mortgage payments you may qualify for a “SHORT SALE”.
Call us for a confidential consultation to explore your options and alternatives.
Let’s get you on your way to recovery!
3 Phases of Foreclosure:
Phase 1: Preforclosure (Private)
Phase 2: Public Auction(Public)
Phase 3: Real Estate Owned or REO (Private)
What is the Foreclosure Timeline?
Preforeclosure begins the day that you are late with your mortgage payment and late charges begin accruing.
Lender sends notice of default (around 45 days)
Notice of Intent to Foreclose Publicized (around 90 days)
Auction (around 150+ days)/Real Estate Owned
Redemption Period:
From the time the property sold at auction until the clerk files the paperwork.
Foreclosures cost the lender time and Money. Between legal fees, possible eviction costs, taxes, insurance, maintenance, HOA fees and selling costs, a foreclosure can cost a lender 40K or over. Lenders do NOT want to own.
Other alternatives are available and a Short Sale & Foreclosure Specialist can guide you through them. During your marketing presentation, ask your Specialist for details. Your Short Sale & Foreclosure Specialist will need to determine if the seller/homeonwer is a quailfied short sale canidate.
Four key criteria must be met.
They are: (1) Demonstrates Hardship, (2) Financially Insolvent, (3) Market Pricing, (4) Cooperative.
DISCLOSURE: RSVP Homes Realty is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
