Carlos Cardo, Associate Broker, RE/MAX ULTRA


Facing Foreclosure?

Life can throw you a curveball and that can have an immediate severe financial implication.


Even though this economy has been positive for many people there are still other circumstances that have left many other homeowners in a challenging financial position. Circumstances such as changes in jobs and/or personal situations have left some people navigating the foreclosure process alone. This process can prove to be stressful and identifying alternatives to foreclosure is tricky. Financial hardships can be caused by a variety of situations that grow over time such as


  • Job change
  • Divorce
  • Change in an owner’s health
  • Having to become a multigenerational family home in order to take care of other family members.

 When these things happen please call your lender and ask for assistance. The banks are in the business of making money by servicing the loan and not foreclosing. For this reason, they are usually willing to offer other possible solutions so that you can keep your home.

Not a Foreclosure but upside down on your mortgage and now have to sell unexpectantly?

There may be other unique situations that can cause a quick sale. A few of my past clients have found themselves in a tough similar situation in which they have to sell, have been making payments but have little to no equity.


What to do?

When this situation occurs, homeowners usually feel alone and at times too embarrassed to seek help. The financial institutions will seem cold, harsh and difficult when they follow their guidelines and regulations. If this should happen to you understand that this is not that uncommon, and assistance is available from a variety of sources.  Perhaps the home HAS appreciated enough to cover the difference. If not, we can try a short sale!


There are good reasons as to why lenders may accept a short sale, such as:

  • Avoiding legal fees involved in the foreclosure process
  • Instead of a cold empty home, the homeowner maintains the home during the showing process with the utilities on and having the home looked after

 As an agent, I try to find the best option for these homeowners. Some lenders will give you more flexibility if they know that your home is listed for sale and you maintain an open line of communication. A few lending institutions are even working with homeowners and are allowing a short sale to occur in less time than they used to. If you are in this situation know that as a REALTOR and an Associate Broker with RE/MAX Central Realty, I work closely with the home sellers who are underwater on their mortgage, lenders and real estate attorneys specializing in short sales to get the home sold with the least possible stress and in the shortest amount of time.

If you know someone that is facing foreclosure or must sell, please let them know I am here to help during this challenging time.




Facing Foreclosure? Know Your Options

Are you falling behind on your mortgage payments? Foreclosure is the most damaging to your credit, and it is the worst scenario that could happen to a homeowner.�Many lenders might reserve the right to go after you personally for the deficiencies of the loan amount.�Millions of homeowners are facing the same frustrations without knowing their options.�Let us present you with foreclosure alternatives. Time is of essence, contact us now!

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