Workshop Dates:
More Free Homeowner Solution Workshops Being Planned:
Not able to attend one of our free workshops? Call us at 949-285-1207, email us, or sign-up for our mailing list for notification of all upcoming events, to reserve a seat at one of our free homeowner workshops, or to set-up a Private Consultation. Always seek legal counsel and a tax opinion before attempting to pursue a short sale. A real estate agent cannot give you legal or tax advice.
Reasons to Avoid Foreclosure:
- Many current and prospective employers run credit checks: a foreclosure can put a current position in jeopardy. Also, foreclosure is one of the top items that will put a potential new hire in jeopardy.
- Security clearances, government positions, military and law enforcement, banking, financial services: many employers reconsider security clearances and jobs positions should one be foreclosed on.
- You could end up with a much higher tax liability in a foreclosure than could result in a properly negotiated short sale since, in most cases, cancelled debt will be higher.
- Credit: it will be much tougher - and take much longer - to buy a home with a foreclosure on ones record.
- You may end up with a Deficiency Judgment (the bank may pursue you for the amount you owe less what they received at auction).
Articles of Note:
Here are articles and websites dealing with short sales, mortgage fraud, loan modification, and deficiency judgment that we found very informative:
- Deficiency Judgment: Mortgage lenders pursue homeowners even after foreclosure - Feb. 3, 2010 - CNN Money
- Lenders Pursue Mortgage Payoffs Long After Homeowners Default: Bloomberg
- One in five U.S. mortgage borrowers are underwater: Reuters
- FBI: Mortgage Fraud
- StopFraud.gov - Financial Fraud Enforcement Task Force
- Banks Face Short-Sale Fraud as Home "Flopping" Rises (Update2): Bloomberg BusinessWeek
- Big Banks Accused of Short Sale Fraud - CNBC
About WoodburyAgent.com
We are a team of top real estate, legal, tax, & lending experts that have banded together to provide a full range of solutions to Southern California homeowners. We find that many homeowners are facing unprecedented issues, and a comprehensive approach is what is needed now.
All members of the Clark Group are Realtors and are members of a leading Orange County real estate broker, Coldwell Banker, which is proud to have over 128,000 agents in more than 700 offices throughout the world!
On the legal side, we have a relationship with a local law firm that has participated in thousands of loan modifications and hundreds of short sales, and are now offering legal representation for those looking for more information regarding bankruptcy or to declare bankruptcy.
Experience Makes All The Difference
If you are experiencing issues with regard to your Orange County home, the Clark Group can help. Call Bruce Clark at 949-285-1207.
