Foreclosure

This is a foreclosure which results from a court action rather than from the power of sale given to a trustee. Judicial foreclosures occur when a trust deed or mortgage deed does not have a power of sale clause, thus compelling the lender to take the borrower to court. This is in contrast to a non-judicial foreclosure, in which a foreclosure can be completed outside the court system. These legal process by which an owner's right to a property is terminated, usually due to default. Typically involves a forced sale of the property at public auction, with the proceeds being applied to the mortgage debt.

STRATEGIC DEFAULTS CONTINUE AS HOMEOWNERS FIND NO ALTERNATIVES

I decided to revisit this topic because is a topic right now that homeowners whom are not being helped or assisted by their mortgage loan lender tend to believe walking away from their home and pocketing instead the mortgage payment is the more sound alternative. I am a Real Estate Investor and specialize in Short Sales and offer free education of Forensic Mortgage Loan Audits.  Like many of us investors, I take it upon myself to constantly educate myself and update our staff in the company so we can find this homeowners in distress and educate them.  Show them the consequences...

Strategic Default Interview With 60 Minutes & Homeowners

Strategic Defaults:  The Financial Decison To Walk Away Investors, this movement is the latest mainstream now for the ethical and educated investor. We must continue being ready to not only answer questions and help distress homeowners of underwater and/or upside down properties, whom from the video below seem to be at a loss of hope in keeping their dream home or avoid foreclosure, but make a better job at reaching out to this homeowners whom are making the financial decision to walk away ( strategic default ) before they start thinking walking away from their home is the better option. Watch...

HAFA RESOURCE PAGE

More On HAFA & How We May Help Homeowners For all purposes, all information written in this post, is only for educational purposes for the homeowner of distressed property trying to decide its best alternative course of action, and should not be construed by any means a legal or tax advise.  For professional advise, please seek the advise of your local counsel/attornery or tax consultant.  Use this information, links, downloads on this post page to educate yourself and your potential thoughts of a short sale if elegible as applicable by HAFA's Short Sale program. My name is Freddie Colon and I am a Real...

NEW H.A.F.A. GUIDELINES TREASURY'S PROGRAM SET TO STOP FORECLOSURES

New Treasury Department program, along with HAFA guidelines, will start PAYING HOMEOWNERS to avoid foreclosure..and do a short sale….some are starting to call this one…’Cash For Walkers’ Should they? In the past we had...'Cash For Keys'..’Cash For Clunkers’ and the proposed ‘Cash For Caulkers’….probably now they will call this new program…Cash For Walkers? Regardless of what, I am optimistic this new program will stirr a little more the Short Sales and glad for those additional homeowners who were undecided before but for the new program will take the government on their offer to do a What is a short sale? A short sale is a sales transaction...

Full Foreclosure Archive