I need your help to help a deserving client avoid Foreclosure!

Here are the full questions & answers related to the Petition I have submitted for assistance in helping a client prevent a Foreclosure that should never happen! Find the petition at :

http://www.change.org/petitions/help-save-this-family-from-foreclosure?share_id=iGqkvcTcnK

QUESTIONS:

I’m confused by this Dawn. It looks like they have already left the house and are faced with a more difficult situation then a foreclosure. Will they still be responsible for costs associated with losing the house, and if so, how will the bank collect given their financial situation? We already know that the banks don’t care or this would have been settled by now, and the petition will probably have little or no effect at all. I’d like to help, but can’t figure out what this will accomplish? Jerry

ANSWERS:

Hi Jerry – Thanks for asking these question….. I am new to this Petition approach so I am learning as I go here too. Any suggestions are always welcome to help. I set this up because I have to do SOMETHING to try and help these clients!!!

Yes, they have left the house and have another place to live – Thank God for their family helping them!

Here is how I perceive the situation:

IF they do a short sale:

1. The possibility of the HOA lien being paid is greater because the buyer has offered to pay this

2. If not a short sale, that lien will become an outstanding lien against them.

3. With a SS, their credit will be less impacted and they can possibly buy again in a shorter period of time

4. They also feel like they have at least done the best they can, under the circumstances, to pay off a loan commitment they undertook and due to job loss, market adjustements and now health issues, can no longer keep.

IF IT GOES INTO FORECLOSURE:

1. Their credit will be affected for a much longer period of time

2. After 12/31/12 –IF the Debt Foregiveness Act is not extended, this client – but moreso anyone else that goes through this same scenario – MAY BE subject to taxable debt forgiveness in a foreclosure – (This may also affect the short sale forgiven if it is not extended but the amount is much greater in a foreclosure than a short sale obviously.)

IN ANSWER TO YOUR QUESTIONS WHAT I HOPE TO ACCOMPLISH:

1. At this point, the debt forgiveness act is still in effect so the biggest issue will be the foreclosure affecting their credit adversely

2. What I am trying to accomplish here is to get the Foreclosure Stopped before 7/2/12

3. AND – Get help from the Government Agencies that are also being sent this petition to step in and work with Ocwen to accept the short sale and close this chapter in their saga of challenges.

Additional FREE Information can be found at http://hosted.cdpe.com/169014/Foreclosure-Solutions.aspx 

About Dawn O'Neal

Dawn O'Neal - WASHINGTON - Realogics Sotheby's International Realty - Managing Broker CALIFORNIA - Independent Broker~Owner~REALTOR® GRI, CRS, LTG®, RRC®, PMN® ASP®, e-PRO®, SRES®, CIPS, TRC®,SFR®, CHS®, CDPE®, Ombudsman and Trained in Negotiations & Mediation from Pepperdine University School of Law I have been self employed since 1975, a REALTOR® since 1990. I am a member of the Sequim Association of REALTORS® IN WASHINGTON and WAR® plus Santa Clara County Association of REALTORS® and CAR® in CALIFORNIA Plus NAR®. I work predominantly with residential clients, some commercial properties, 1031 exchanges, & extensively with Seniors. I have received many awards with RE/MAX and Realty World attaining both their top award of Hall of Fame & earned many designations. I love to work with clients in person or through emails & the Internet. Please visit my web page www.DawnOneal.com for a full profile, testimonials & my passion – Breakfast With Santa. CA DRE#01101500 WA License #26510 My Motto - Exceeding Expectations - ALWAYS!
This entry was posted in Foreclosure, NOD-Notice of Default, NTS-Notice of Trustee Sale (Foreclosure), REALTOR®, Short Sales and tagged , , , , , . Bookmark the permalink.

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