Sarasota Foreclosures - 3 Foreclosure Prevention Secrets!
Three foreclosure prevention strategies help struggling property owners stall or avoid foreclosure
. Whether you or someone you know is facing foreclosure, please understand your options and seek qualified advice.
To start, consider free help available locally and through the government. Contact HOPE NOW immediately to see if you or someone you know qualifies for help: 888.995.HOPE. Hope Now, a coalition of lenders, have come together to work out mortgages & keep families in their homes.
Clearly, homeowners benefit from foreclosure prevention help. However, its not just home owners who benefit from foreclosure prevention. Debt owners such as banks benefit from keeping homeowners in their homes.
A foreclosure typically costs a bank 30% more than a short sale. In my own Sarasota, Florida, neighborhood, 7 abandoned houses continue rotting away, destroying the value of each property in addition to all the houses in the neighborhood.
One such property has been stripped, with someone removing all appliances, upper and lower cabinets in kitchen and bathrooms and removing all copper piping through walls. Worst of all, the pool water has been drained into the house.
Windows are broken.
The once nice PVC fence is gone along with the air conditioning compressor.
By the time, the bank repossesses this property, the debt owner will acquire a liability worth one-third its previous value or minimum $100,000 since the house has been abandoned. Of course, I didnt mention mold.
For 18 months, this Florida house has had no ventilationno AC at all. The cost of foreclosure extends beyond the debt owners loss to all neighboring properties. The entire community suffers with foreclosure.
If Hope Now doesn't work for you, immediately implement strategy #2call the National Association of Consumer Advocates @ www.naca.net. NACA is a group of consumer attorneys SPECIALIZING in foreclosure defense. Its been my experience that NACA attorneys specialize in foreclosure defense more so than local attorneys who only recently have turned their law practices into foreclosure defense to accommodate demand. Nonetheless, search your local area for experienced, proven attorneys specializing in foreclosure defense. In the last 8 months, I have discovered 3 very qualified attorneys in my local area. Very few attorneys specialized in foreclosure defense prior to 2007. The good attorneys are those who have invested time, money & energy to become proven advocates.
Strategy #3 calls for you (preferably your attorney) demanding your debt owner produce the "original note. This strategy alone currently is delaying a foreclosure for months longer than normal in judicial foreclosure states such as Florida. Florida is a judicial foreclosure state, meaning a foreclosure must go through the courts. Courts in my area are so jammed foreclosure proceedings are taking months longer than normal. Its not unheard of for a debt owner to take 18-36 months to foreclose. The other day, I oversaw a cash-for-keys exchange, where the homeowner volunteered the keys in exchange for cash.
She agreed to leave the house in broom-clean condition.
She had been living in the house rent free since July 2008.
Sarasota foreclosures dot nearly every neighborhood in Sarasota, hammering all other home owners property values. Foreclosures cost everyone, including the neighbors. These 3 strategies offer a glimpse of the help available to you or someone you know for avoiding foreclosure. If you and your qualified counsel determine short selling your house is in your best interest and you are in the Sarasota (FL) area, please call me now. I will short sell your property for you...at no cost to you. Should you qualify for a short sale, the bank pays me to short sell your property.
by: Mike Payne
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