Your Colorado friend in real estate

Is the home that was once a blessing now become a financial burden?

Wed, 12 May 2010 10:23:45 GMT

Considering Short Sales

by Carla L. Davis

In today's economic climate, many families are finding themselves in dire straights. The home that was once a blessing has now become a financial burden.

In an attempt to avoid foreclosure, which can reap havoc on one's credit for years to come, homeowners are searching out details on short sales.

In simple terms, a foreclosure is when, after defaulting on payments (typically after 3 months), an estate becomes the absolute property of the lender. And what's more, in some cases you, the homeowner, may also be responsible for "deficiency judgments." These mean if the sale of the foreclosed property doesn't satisfy the amount of the loan, you may be obligated to pay the difference.

On the other hand, a short sale, according to MSN Money, is "the sale of a house for less than what the owner still owes on the mortgage. If the lender agrees to a short sale, the rest of the homeowner's debt typically is forgiven. Lenders sometimes agree to the procedure in order to take a small loss and avoid the lengthy and costly foreclosure process."

There are more reasons to avoid foreclosure than just your credit rating. A recent report from NeighborWorks America ® notes that other factors come into play in neighborhoods affected by foreclosures. These issues include such things as lowered property values, increased incidence of financial scams, youth stress and instability, and increased crime rates. The report notes, "Abandoned homes from the foreclosure crisis have a direct effect on the rise in crime in communities." And according to another study by Dan Immergluck of the Georgia Institute of Technology in Atlanta and Geoff Smith of the Woodstock Institute in Chicago, “When the foreclosure rate increases one percentage point, neighborhood violent crime rises 2.33 percent.”

There are some prudent steps to take when considering a short sale.

First, learn about loan modifications. Honesty is the best policy when it comes to lenders. Pick up the phone and call your lender, explain your situation, and see what your options may be that could allow you to stay in your home. The processes of foreclosure and short sale can be costly to lenders, and they may be willing to work out a payment schedule that will get you through this trying time.

Second, consult with the experts. According to the National Association of Realtors, by using a qualified team of short sale professionals, along with a real estate attorney, you can ensure that you aren't taken advantage of during the short sale process. This team can help:

Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
Help you set an appropriate listing price for your home, market the home, and get it sold.
Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
Ease the process of working with your lender or lenders.
Negotiate the contract with the buyers.

Next, prepare for a long selling process. Waiting for your lender’s approval of your short-sale package can take several weeks to months.

Finally, a short sale is not the end all solution to your problems. Though there have been recent allowances made by the government under the Mortgage Forgiveness Debt Relief Act and the Debt Cancellation Act, debt forgiven by your lender may be considered income that taxes will have to paid upon.

If you are having issues making your mortgage payments, call me to discuss your options regarding debt programs and short sales.

Published: May 10, 2010

If you are a homeowner looking for answers, or would like to determine if you (or someone you know) qualify for a short sale, I hope you will feel comfortable contacting me. I can help.

Your friend in real estate,

Shelli Dore

office 303-942-0648
cell 303-931-9944
efax 303-467-8283
email Sold@ShelliDore.com

www.ShelliDore.com
www.ColoradoForeclosureStopper.com

NEW RULES FOR TITLE INSURANCE TAKE EFFECT MAY 1, 2010

Thu, 29 Apr 2010 14:53:43 GMT

New rules governing title insurance in Colorado are taking effect May 1, the state Division of Insurance announced Wednesday.The rules are intended “to ensure consumer interests are protected in real estate transactions,” officials said.Here is the text of a news release issued Wednesday by the Division of Insurance, a unit of the state’s Department of Regulatory Agencies:

Effective May 1, 2010, there’s a newly adopted version of Division of Insurance Regulation 3-5-1, which governs the title insurance industry in Colorado.

“When purchasing a home, having title insurance in good order helps buyers be sure that there are no problems with the home’s title and that the seller really owns the property,” said Colorado Insurance Commissioner Marcy Morrison. “The recent update to our regulation recognizes the inherent value in services provided by title insurance companies and agencies, and moves to ensure these entities are compensated for valuable services, rather than passing hidden costs back to consumers in the form of higher premiums and closing fees.”

While much of the regulation has remained the same as past versions, there are a number of important changes in the way title insurance entities must now conduct business:

• Free property reports – title insurance companies and agencies are no longer permitted to issue property reports (known as ownership and encumbrance reports, or O&Es) without charge. Also included in this prohibition is the issuance of preliminary title commitments (known as TBD commitments) without charge. These products represent a considerable expense for the title industry, expenses that are passed back to consumers in the form of higher premiums and closing fees.

• Free classes for real estate agents – while title entities may still teach classes relating to title insurance without charge to the attendees, but any costs associated for classes not primarily related to the business of title insurance must be passed back to the attendees. Classes such as internet marketing for real estate brokers, or how to prepare a real estate contract, may not be provided without charge.

• Title commitments and disclosures – a number of updates affect the internal operation of title entities, including clarifications on what is considered a reasonable search and exam, disclosure requirements on the title commitments regarding true ownership of properties, and prohibitions against overly broad coverage exceptions.

• Consumer funds – title entities are no longer permitted to invest the funds they hold for other parties without first receiving written approval from necessary parties. Additionally, a title entity that earns interest on fiduciary funds must now give disclosure that interest is or was earned, and give consumers the opportunity to receive payment for any interest over certain administrative fees.

The updated regulation can be viewed at: http://www.dora.state.co.us/insurance/regs/F3-5-1_030510.

Homeowners can get second mortgages adjusted, too

Wed, 21 Apr 2010 15:01:53 GMT

By Stephanie Armour, USA TODAY

The Obama administration's initiative to help homeowners obtain modifications of second mortgages is getting off the ground.

Just this month, Bank of America became the first major lender in the program to send letters offering modifications to home-equity loan customers struggling with their loans.Citigroup, JPMorgan Chase and Wells Fargo joined the program in March, when updated guidelines were issued by the government.Those banks hold about half of the USA's second liens.

The program, originally introduced in August, is aimed at overcoming an impediment to permanent modifications of first mortgages. Holders of first mortgages have been reluctant to take losses unless the holder of the second-lien mortgage does, too. More borrowers are staying current on their second mortgages, however, which has made those lenders less inclined to take losses.

"This is a huge concern for consumers," says Marietta Rodriguez, national director for homeownership and lending at national non-profit NeighborWorks America. "You have two financial institutions trying to get a payment out of you. How do you respond?"

The government's second-mortgage program, called 2MP, offers incentives to borrowers, mortgage servicers and investors to modify second mortgages. How it works:

•When a borrower's first loan is modified under the federal program, known as the Home Affordable Modification Program (HAMP), and the servicer of the second loan is also a participant in HAMP, that servicer must offer to modify the borrower's second lien.

•Servicers can stretch the term of the second loan to 40 years.

•Second-lien lenders must defer the payment of the same proportion of principal that was deferred or forgiven on the first loan.

The second loans also must have originated on or before Jan. 1, 2009, to be eligible for a modification.Modifying a mortgage with a second lien can be more difficult because of the additional parties involved.

A second lien may be held by another servicer or investor, and getting all parties to agree on interest rate reductions or other steps to ease borrowers' monthly payments can be time-consuming or difficult. The government program aims to make the process easier.

The number of homeowners who will get assistance is limited.While the program is expected to reach up to 1.5 million homeowners who are struggling to afford their mortgage payments, there are an estimated 19 million residential junior liens, with an average balance of $57,000 as of January, according to First American CoreLogic.Up to 50% of at-risk mortgages have second liens, according to the Treasury Department.

Even with the incentives the government is offering mortgage lenders to modify second mortgages, they could still prove to be an obstacle as pressure grows to reduce borrowers' loan principal."First-lien holders become more reluctant to do principal reduction because of the second" lien, says Jack Schakett, loss mitigation strategies executive at Bank of America. "Everyone is calling for doing more principal reduction. Second liens will be a problem."

Foreclosures on faster pace in Colorado, U.S. in first quarter

Fri, 16 Apr 2010 13:10:10 GMT

Homes in Colorado and the U.S. are falling into foreclosure at a much faster pace this year than last, according to a report Thursday from RealtyTrac.

But a freeze on foreclosure activity early last year by lenders waiting for new federal guidelines on loan modifications can explain much of that gap. The government had asked lenders to voluntarily halt foreclosures until the new guidelines came out, and many did so.

In Colorado, overall foreclosure filings in the first quarter were running 27.1 percent higher than in the first quarter of 2009, according to RealtyTrac.Nationally, they were increasing at a 16 percent pace.Colorado reported one foreclosure filing for every 134 homes during the quarter, ranking it 10th among states. Nationally, the rate was 1 out of 138 homes.

Ryan McMaken, author of a separate foreclosure report from the Colorado Division of Housing, said foreclosure activity in the state is running higher this year than last. He attributes that to the voluntary moratorium last year. But the first-quarter state numbers are tracking on par with, and in some cases lower than, other quarters last year."I haven't seen anything that indicates why Colorado has accelerated more than the nation," McMaken said.

That isn't to say that lengthy periods of unemployment and lower incomes aren't weighing on many home owners despite efforts to help them. Some economists and industry experts expect more borrowers to lose their homes through foreclosure or short sales, in which they sell the property for less than they owe, as government and industry mortgage- relief programs falter.

"We're not surprised to see an influx of (repossessed properties). We thought this would be coming; we just didn't know when," said Daren Blomquist, spokesman for RealtyTrac.

The Washington Post contributed to this report. Aldo Svaldi: 303-954-1410 or asvaldi@denverpost.com

Case-Shiller: Denver home prices up for 3rd straight month

Mon, 12 Apr 2010 20:59:42 GMT

Denver Business Journal - by Renee McGaw

For the third month in a row, Denver-area home prices showed a year-over-year increase in January, according to the latest S&P/Case-Shiller Home Prices Index.

Out of 20 U.S. cities in the closely watched report from Standard & Poor’s, released Tuesday, Denver was one of nine that showed a year-over-year increase in prices.

Denver-area home prices were 2.6 percent higher in January 2010 than in January 2009. That followed a 1.2 percent year-over-year increase in December and a 0.5 percent gain in November.

However, prices slipped 1.3 percent in January from December 2009.

November’s rise was the first year-over-year home price increase in the Denver area since November 2006, according to a Denver Business Journal analysis of Case-Shiller data. Between those months, Denver had 36 straight months of year-over-year price declines.

Denver’s home price index was 125.59 in January, meaning that a typical home in the area was worth nearly 26 percent more than in January 2000, which is the index’s base year.

Nationwide, the Case-Shiller 20-City Composite Home Price Index declined 0.7 percent year over year, while the 10-City Composite Home Price index was flat. This is the nearest that either index has come to positive territory since January 2007, three years ago, according to S&P.

“The report is mixed,” David Blitzer, chairman of the Index Committee at Standard & Poor’s, said in a news release. “While we continue to see improvements in the year-over-year data for all 20 cities, the rebound in housing prices seen last fall is fading. Fewer cities experienced month-to-month gains in January than in December 2009, on both a seasonally adjusted and unadjusted basis. Moreover, in four cities — Charlotte, Las Vegas, Seattle and Tampa — prices reached new lows following the financial crisis.”

Other recent housing data also paint a mixed picture, Blitzer said.

“Housing starts continue at extremely low levels, recent reports of home sales suggest the market remains difficult, and concerns remain about further foreclosures and a large shadow inventory of unsold homes,” Blitzer said. “We are in a seasonally weak part of the year, but given the S&P/Case-Shiller Home Price data reported today, we can’t say we’re out of the woods yet.”

Click here to download the latest Case-Shiller report. -
rmcgaw@bizjournals.com

Aggressive steps readied to fight foreclosures

Fri, 09 Apr 2010 13:27:19 GMT

By Renae Merle and Dina ElBoghdady
The Washington Post

WASHINGTON — The Obama administration plans to overhaul how it is tackling the foreclosure crisis, in part by requiring lenders to temporarily slash or eliminate monthly mortgage payments for many borrowers who are unemployed, senior officials said Thursday.

Banks and other lenders would have to reduce the payments to no more than 31 percent of a borrower's income, which would typically be their unemployment insurance, for three to six months. In some cases, administration officials said, a lender could allow a borrower to skip payments altogether.

The new push, which the White House is to announce today, takes direct aim at the major cause of the current wave of foreclosures: the spike in unemployment. While the initial mortgage crisis that erupted three years ago resulted from millions of risky home loans that went bad, more recent defaults reflect the country's economic downturn and the inability of jobless borrowers to keep paying.

The administration's new push also seeks to more aggressively help borrowers who owe more on their mortgages than their properties are worth, offering financial incentives for the first time to lenders to cut the loan balances of these distressed homeowners. Those who are still current on their mortgages could get the chance to refinance on better terms into loans backed by the Federal Housing Administration.

The problem of "underwater" borrowers has bedeviled earlier administration efforts to address the mortgage crisis as home prices plunged.

Foreclosure relief

Officials said the new initiatives will take effect over the next six months and be funded out of $50 billion previously allocated for foreclosure relief in the emergency bailout program for the financial system. No new taxpayer funds will be needed, the officials said.

The measures have been in the works for weeks, but President Barack Obama is finally to release the details days after his watershed victory on health care legislation. Following that bruising battle on Capitol Hill, his administration is now welcoming a chance to change the subject and turn its attention to the economy and, in particular, the plight of the unemployed — concerns that are paramount for many Americans.

In addition to mortgage relief for unemployed borrowers, the program features four other key elements, including several steps to address the growing population of borrowers who owe significantly more than their home is worth, according to officials who spoke on the condition of anonymity because the official announcement had not been made.

Financial incentives

The first key element is that the government will provide financial incentives to lenders that cut the balance of a borrower's mortgage.

Banks and other lenders will be asked to reduce the principal owed on a loan if the amount is 15 percent more than their home is worth. The reduced amount would be set aside and forgiven by the lender over three years, as long as the homeowner remained current on the loan.

Until recently, administration officials had been reluctant to encourage lenders to cut the principal balance, worrying that this would encourage borrowers to become delinquent. But as federal regulators have struggled to make an impact on the foreclosure crisis, those qualms have weakened.

Second, the government will double the amount it pays to lenders that help modify second mortgages, such as piggyback loans, which enabled homebuyers to put little or no money down, and home equity lines of credit. Third, the new effort also increases the incentives paid to those lenders that find a way to avoid foreclosing on delinquent borrowers even if they can't qualify for mortgage relief. For example, the administration is scheduled to launch a program next month encouraging lenders to have borrowers sell their homes for less than the mortgage balance in what is known as a short sale.

Fourth, the administration is increasingly turning to the Federal Housing Administration to help underwater borrowers who are still keeping up their payments. The aim is to help these borrowers refinance into a more affordable loan. The FHA will offer incentives to lenders that reduce the amount borrowers owe on their primary mortgages by at least 10 percent.

Home Affordable Foreclosure Alternatives Makes Short Sales Easier

Wed, 07 Apr 2010 09:48:19 GMT

By Michele Lerner, Bankrate.com

Homeowners struggling to sell their homes in a short sale are getting some relief, thanks to the federal government's Home Affordable Foreclosure Alternatives, or HAFA, program.

Up to now, many short sales -- in which the lender accepts a sale of the property for less than the full amount owed -- have taken months to complete. Sometimes, the complex and lengthy process has failed, resulting in foreclosure.

HAFA establishes streamlined short sale rules and incentivizes borrowers and lenders to work together to avoid foreclosure. The rules -- in effect between April 5, 2010, and Dec. 31, 2012 -- also are intended to speed up the short sale process.

"The streamlined short sales process will definitely help homeowners," says David Liniger, Re/Max International chairman and co-founder. Prior to HAFA, homeowners often listed their home for sale without an idea of what the lender would accept.

"A lot of sellers and their Realtors have not been able to sort out the problems with short sales and have given up on the process because, even after sending in the correct paperwork, they have sometimes waited three or four months for their lender to respond," Liniger says.

Under HAFA, borrowers receive preapproved short sale terms from the lender prior to putting the home on the market. Lisa Matykiewicz, a Realtor and Certified Distressed Property Expert in Gilbert, Ariz., says the updated short sale rules establish an easy-to-understand process with predefined steps that "make it easier for everyone to understand."

Eligibility requirements

The HAFA guidelines apply to lenders who voluntarily participate in the HAMP program. The Department of Housing and Urban Development says more than 100 servicers have signed up to participate in HAMP, covering more than 89 percent of mortgage debt outstanding in the country.

To be eligible for HAFA, homeowners must first apply for a loan modification through the Home Affordable Modification Program, or HAMP. Owners who do not qualify for a loan modification or miss payments during the initial loan modification period qualify for HAFA.

Other HAFA requirements include:

Property is principal residence.
Mortgage originated before Jan. 1, 2009.
Mortgage is owned or guaranteed by Fannie Mae or Freddie Mac.
Borrower is delinquent or default is foreseeable.
Homeowner demonstrates hardship.
Borrower's total monthly housing payment exceeds 31 percent of gross income.
Unpaid principal does not exceed $729,750.

According to HAFA rules, lenders now must offer a short sale in writing to the borrower within 30 days if the borrower does not qualify for or complete a loan modification. Borrowers then must respond within 14 days to the lender's short sale agreement.

"I think it's great that the lenders in this program have to offer a short sale before going to foreclosure," Matykiewicz says. When a purchase offer is made, borrowers must submit the sales contract to the lender within three days, along with the buyers' mortgage preapproval and the status of negotiations with other lien holders on the seller's property.

Finally, lenders must approve or deny the contract within 10 days. HAFA rules also state that lenders must release borrowers from the obligation to repay the difference between the sales price and the loan amount. No deficiency judgments are allowed for a first or second loan.

Other Incentives:

In the past, short sales were especially difficult for homeowners with more than one loan on their home, since the home sale typically repaid only the first mortgage. HAFA's financial incentives include a payment of up to $3,000 for second mortgage holders. "Second trust lien holders are often owed five or 10 times that $3,000 payment," says Liniger. "But if the property goes to foreclosure, the second trust holder is not likely to get any money at all. This at least guarantees they get something."

Other HAFA financial incentives include $1,000 to loan servicers to cover administrative fees, up to $1,000 for mortgage investors who agree to share short sale proceeds with second lien holders and $1,500 to the homeowners for relocation. "The moving expense allocation acts as an incentive for them to stay in the property until the short sale goes through," says Liniger. "Owner-occupied properties are usually in better condition than vacant homes."

If you are a homeowner looking for answers, or would like to determine if you (or someone you know) qualify for a short sale, I hope you will feel comfortable contacting me. I can help.

Your friend in real estate,

Shelli Dore
office 303-942-0648
cell 303-931-9944
efax 303-467-8283
email Sold@ShelliDore.com

www.ShelliDore.com
www.ColoradoForeclosureStopper.com

What is HAFA?

Sat, 27 Mar 2010 18:50:02 GMT

The Home Affordable Foreclosure Alternatives (HAFA) Program is a government-sponsored initiative led by the US Treasury Department assisting all Home Affordable Modification Program (HAMP)-eligible homeowners in avoiding foreclosure, specifically through short sales or deeds-in-lieu.

First introduced November 30, 2009 in Supplemental Directive 09-092 as part of the Home Affordable Modification Program (HAMP), HAFA assists eligible homeowners in quickly and effectively implementing short sales by providing financial incentives to lenders that work in conjunction with HAMP to assist homeowners in need.

The program was introduced in part with the intent to remove the stigma from short sales and help keep communities from being destroyed through massive foreclosures. HAFA in its current state is only applicable to conventional-type, non-Governmental Serviced Enterprises (non-GSE) mortgages and therefore does not apply to loans owned or guaranteed with Fannie Mae or Freddie Mac. These organizations may have plans to release their own versions of HAFA.

Sources:
• 1Making Home Affordable "HAMP Supplemental Directive 09-09" (2009): https://www.hmpadmin.com/portal/docs/hamp_servicer/sd0909.pdf

• 2HousingWire "Treasure to Announce New Program to Avoid Foreclosure" (2009): http://www.housingwire.com/2009/10/12/treasury-to-announce-new-program-to-avoid-foreclosure/

• 3HousingWire "Treasure to Announce New Program to Avoid Foreclosure" (2009): http://www.housingwire.com/2009/10/12/treasury-to-announce-new-program-to-avoid-foreclosure/

The Truth About Mortgage Modifications

Mon, 02 Nov 2009 08:23:25 GMT

The Truth About Mortgage Modifications

The decisions you make as a homeowner today hold a profound impact on your financial future. However, it is important to safeguard yourself from misinformation and fraud. Get the facts regarding your situation and always have a contingency plan.

For those who qualify, a mortgage modification is the ideal remedy to their financial distress. I’ve prepared a FREE report on the truth about mortgage modifications to guide you through this important process. Simply provide your information below to get this valuable information, and feel free to pass it along to anyone who may need it. One homeowner lost to foreclosure is one too many!

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Together, we can formulate a plan to get back on track.

If you have any unanswered questions, or your circumstances are urgent, please call me today.

Shelli Dore
303-931-9944

The Robo-Signing Settlement

The Robo-Signing Settlement: How it can help you stay in your home!

The news has been abuzz in the past few weeks about the historic Robo-Signing Settlement reached between the government and five major lenders. The settlement raises lots of questions, but for homeowners who are in danger of losing their home there is only one:

Can this settlement help me stay in my home?

The answer: Possibly! But regardless of whether you meet the specific eligibility requirements of the settlement, it is important to remember one thing:

THERE ARE OPTIONS!

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I have information about what this settlement means for distressed homeowners.

If you or someone you care about is in danger of losing their home and think they have no options, contact me today for a confidential consultation.

Caution: Protect Yourself Against Mortgage Relief Scams

The Federal Trade Commission (FTC) has issued regulations protecting consumers against mortgage relief fraud. Due to the growing number of scams that are designed to take advantage of homeowners in distress, the government wants to make sure you won’t be a victim.

As a CDPE, I am fully compliant with the FTC regulations, and want to help you avoid being taken advantage of by unscrupulous individuals or companies, as well.

In fact, I’ve developed a free, detailed report that explains the warning signs of potentially fraudulent activity so you can protect yourself and the ones you love.

If you are facing an unaffordable mortgage and need help from someone you can trust, please contact me today.

I’m here to help.

Tipping the Scales Toward Foreclosure?

Fear of foreclosure is a national epidemic.

Millions of homeowners fell behind on their mortgage payments last year, and then proceeded to fall further behind every month.

These are tough times and there are no easy answers.

The fact is, major lenders, the federal government, and local agencies across the country have stepped up their efforts to stem the tide of foreclosures. More help is available than ever before.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I am knowledgeable and adept at navigating among the full range of solutions for helping financially distressed homeowners to make a fresh start.

Looking to learn more? Check out my free report: "Tipping the Scales Toward Foreclosure? Resolve to Shed the Weight of an Unmanageable Mortgage in 2012."

And if you, or someone you care about is looking to tip the scales back into financial solvency, contact me today for a confidential consultation!

Don't Walk Away From Your Mortgage

Stop Don't Walk Away From Your Mortgage

At a Crossroads?

Walking away or "strategically defaulting" on your mortgage is not the answer. You will find that there is nothing strategic about foreclosure, especially when there are solutions to avoid it.

You should know that you have options, and that you are not alone. More than 25% of American homeowners now owe more than what their homes are worth, and millions more are having a hard time paying their mortgages.

I've developed a free, detailed report on foreclosure alternatives you can download below. Download it today and give yourself a green light for a solid financial future.

The sooner you take this step, the more time you'll have to act and move toward a more promising tomorrow.

Is your Mortgage out of Balance with Your Budget

Is your Mortgage out of Balance with Your Budget?

Today's homeowners have a lot to fear. Budgets are tight and it doesn't take much before "barely getting by" tips into avoiding collector's phone calls, sleepless nights and falling further behind.

Many homeowners don't think it's possible to tip the scales back in their favor so they simply give up.

You do not have to lose your home to foreclosure!

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I am uniquely qualified to help homeowners as they attempt to bring balance back to their budgets.

If you, or someone you care about feels like the scales are weighted against them and need help, contact me today for a confidential consultation!

Options and Solutions

Thank you for visiting this site and taking the first step toward finding answers. I appreciate what it has taken for you to come here, and commend your efforts to get the facts about your situation. The current real estate environment can be frustrating, with misinformation and conflicting plans for how to proceed.

As a real estate agent, what I often see in troubled homeowners is a belief that they are alone with their challenges. Regrettably, over 70% of homeowners in foreclosure proceed without ANY visible assistance. This is not acceptable for the communities I serve.

That's why I've developed this site: to ensure you get the valuable resources that can reduce your financial strain and change your life for the better. As a CDPE I know the options for homeowners in foreclosure or delinquent on their mortgages, and I can send you a report detailing this information, prepared just for you.

Simply enter your information below and click "Send." I hope that you will review this information carefully, so that your next steps are the right steps toward a real solution.

Let me help you evaluate your options and get back on track to a solid, stable future.

Short Sale vs. Foreclosure

Foreclosure or Short Sale: Understand the Differences

Underwater on your mortgage? Facing foreclosure? Avoiding foreclosure through a short sale can have many benefits for your future financial stability.

I created this site to help spread the word about the options to avoiding foreclosure, and a short sale has many benefits. A successful short sale can reduce the damage to one's future loan eligibility, credit rating, employment, security clearance and more.

For a free report on the differences between short sales and foreclosure, fill out the form below and click "Send". If your situation is urgent, feel free to contact me immediately. I'm ready to help you take action and secure a more secure financial future.

As a CDPE-designated agent, I've been trained to pursue foreclosure alternatives, and I'm here to help.

Short Sale & Deed-In-Lieu

Contrary to what you may have heard, lenders actually want to avoid foreclosure wherever possible. That’s why they’re accepting more short sale and deed-in-lieu transactions everyday in an effort to eliminate unnecessary foreclosures. This is great news for homeowners facing financial distress.

To help you understand more about these two options, I’ve prepared a free report just for you, called ‘Short Sale & Deed-in-Lieu: Dignified Solutions.’ To receive your free report, please provide your information in the fields below.

I hope you’ll review these options carefully and pass this information along to those who may need it. I commend your efforts to finding a solution to the difficult financial situation that you or someone you know is currently facing. Providing the best advice and information in your time of need is my priority.

Let me help you evaluate your options and get you back on track to a secure financial future.

Hidden Costs of Bankruptcy

Considering filing for bankruptcy? There may be alternatives you've never considered …

If you are having trouble paying your mortgage and are possibly considering bankruptcy, there may be better solutions for your particular circumstances. I've created the free report available on this page, "The Hidden Costs of Bankruptcy," to provide more information.

Alternatives to foreclosure, such as conducting a short sale and moving into a rental residence with less expensive payments, may offer the breathing room you need to reorganize your finances.

To get your free report, fill out the form below and click send. However, if your situation is urgent and you need immediate assistance, please don't hesitate to contact me.

I'm here to assist you.

Avoiding Mortgage Modification Fraud

I Am An Agent Against Mortgage Fraud!

The last thing struggling homeowners need is to be victimized by fraud. Sadly, some people are preying on those who need help the most. Today, the real estate industry is the newest, biggest target for predatory schemes. In fact, the U.S. Attorney General, Eric Holder, stated that mortgage fraud cases are 400 percent higher than they were five years ago.

With nearly 1 in 6 homeowners unable to pay their mortgages, understand that you are not alone. Knowing your legitimate foreclosure-avoidance options is the best way to fight this terrible trend.

The report on this site will tell you how to avoid mortgage fraud schemes, as well as what solutions are available to you. Enter your information below and get the facts now!

Credit Score Issues

Don't Let Your Credit Score Drop Unnecessarily

Avoiding foreclosure now could make or break your attempts to get a loan in the near future and determine whether you can get affordable interest rates.

That's why I've made this site available for anyone in our community struggling with mortgage payments. Foreclosure alternatives like short sales and deeds-in-lieu allow homeowners to avoid many of the damaging effects of foreclosure. In addition, short sales may have less of an impact on credit scores than foreclosure.

To get all the information on how these options affect your credit score, fill out the form below and click "Send". If you need immediate assistance, contact me right away.

I'm here to assist you.

Feeling Trapped by Your Mortgage?

Feeling trapped by your mortgage?

Education is the Key

If you or someone you know feels like a prisoner to unaffordable mortgage payments, you should know that education may be the key to financial freedom. You have options available that can help ease the worry of making payments or losing your home to foreclosure.

To find out more about the options you have to choose from, download the free report I've created at the bottom of this page.

In fact, this entire website has been created exclusively for homeowners like you who need a trusted source for viable solutions to foreclosure.

If you have questions about the information you find here, or would like to get started in creating a plan, call me today.

The more proactive we are, the better chance you'll have in finding financial freedom and stability.

Escape Your Unmanageable Mortgage

Getting free doesn't have to mean running away.

Today, many homeowners find themselves unable to escape an unmanageable mortgage. Some of them are being given some bad advice.

They are being told that walking away from their mortgage and letting the bank foreclose is their best possible option. It is called Strategic Default, and it has terrible consequences.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I make it my mission to know the best possible options available to distressed homeowners for both their present AND their future.

Read the report on my site entitled Escape Your Unmanageable Mortgage: Getting free doesn't have to mean running away. Then, call me and schedule your free, confidential consultation.

Foreclosure Vs. Short Sale

As a Certified Distressed Property Expert, I have devoted my career to helping homeowners who face difficult situations, taking them from uncertainty to resolution. Lately I've found a lot of conflicting information going around, especially concerning short sales, which you should know about.

A short sale occurs when a lender accepts the selling price of a home, even if it is less than the full amount owed on the mortgage. For particular homeowners, this can be the best option to foreclosure. Yet, I still hear people suggest that short sales are basically the same as foreclosure.

This is absolutely wrong!

You need to have the CORRECT information. That’s why I'm glad you're here. To help, I’ve prepared a free report—just for you—that compares the realities of foreclosures and short sales side-by-side. Simply provide your information below, and I'll send you this report.

If you have any additional concerns about this issue, or your circumstances are urgent, please feel free to give me a call. I can help you evaluate your options and get you back on track to a secure financial future.

Shelli Dore 303-931-9944

7 Short Sale Myths

There are millions of homeowners just like you who are looking for answers and don’t know what to do. You’re not alone and you’re in the right place.

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Despite my best efforts, there’s still an overwhelming amount of misinformation about the options available, especially short sales.

To give you a better idea of the short sale option, and to set straight some of the myths you may have heard, I’ve prepared a free report just for you - please fill out the information below to receive your free report. This report will clarify the following myths:

The Bank Would Rather Foreclose Than Bother With A Short Sale
You Must Be Behind On Your Mortgage To Negotiate A Short Sale
There Is Not Enough Time To Negotiate A Short Sale Before My Foreclosure
Listing My Home As A Short Sale Is An Embarrassment
Short Sales Are Impossible And Never Get Approved
Banks Are Waiting On A Bailout And Not Accepting Short Sales
Buyers Are Not Interested In Short Sale Properties

These ideas are potentially harmful to homeowners seeking real solutions. I hope you’ll review this information for yourself or share it with a homeowner in need.

In these times, we all need to know the truth to know how to get back on track.

If you have any additional concerns about this issue, or your circumstances are urgent, please give me a call.

Shelli Dore
303-931-9944

Your First Steps To Avoid Foreclosure

Your First Steps

In today’s market, 1 in 7 homeowners is having trouble paying the mortgage. More than 70% of these homeowners proceed without seeking assistance or getting the facts. Many do not even realize that foreclosure is a process, and that there is time to make decisions that may result in a better outcome.

You are not alone. Millions of other homeowners nationwide are in the same circumstances. To assist you, I’ve prepared a free report outlining the first steps a homeowner should take when facing a foreclosure.

Fill out your information below for this free report. Don’t hesitate. Get back on track today!