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Foreclosure fears foster true grief

by Dean Kessler

Reports of foreclosures by the millions have been in the news so much over the past few years that to some, it might seem like normal.

But as a real etate professional who is in the trenches with financially stressed homeowners every day, it never for a second feels to me like business-as-usual.

The prospect of losing ones home is right up there among the major sources of grief, and often, it goes hand in hand with the other tragic setbacks such as the loss of a job, a divorce, death of a loved one, mounting medical bills or skyrocketing mortgage payments.

Unfortunately, the first stage of grief is denial, and that's even more the case when the threat of foreclosure is looming. No one wants to talk about or admit financial troubles - even when millions of others have found themselves in a similar spot. It's completely understandable, but for homeowners who are behind on mortgage payments, decisive action is often the most critical step toward ensuring the best possible solution.

As a real estate professional who has sought out the Certified Distressed Property Expert (CDPE) designation, I help homeowners to deal with every aspect of the grief and uncertainty that accompanies a mortgage which is no longer manageable. In the process, I help them get on a path of financial solvency.

If you or someone you care about would like to change the course of a life that's facing a foreclosure, I get it and I can help.

Contact me today at 707-441-1765 or email dean@thekesslerteam.com.

With gratitude,

Dean Kessler

Visit my distressed homeowner website www.EurekaForeclosureHelp.com to download my just published free report on the latest loan modifications

 


EUREKA, CA - Dean recently attended a presentation by California Association of Realtors counsel, Mr SANJAY WAGLE. The presentation covered the legal nuances of home mortgages in default, short sales, foreclosures, auctions, and bank owned properties (REO's). It was clear these types of real estate transactions are not your typical home sale. These transactions have the potential for continued financial distress for our clients if not facilitated properly.

Highlights included discussions about;

a) Recourse and non-recourse loans. Some lenders may still have the ability to pursue the borrower for a deficiency judgement even after a short sale, deed-in-lieu, or foreclosure.

b) State and federal tax liabilities for the distressed home owner on debt that is forgiven, either thru a short sale, deed-in-lieu, or foreclosure.

c) Possession rights for displaced homeowners and tenants for a property sold at auction.

d) The federal government's guidelines to lenders for distressed homeowners to participate in the Home Affordable Modification Program (HAMP) and Home Affordable Foreclosure Alternative (HAFA) programs.

WAGLE shared with Dean that he consults with many Realtors from around California on a daily basis about far ranging legal issues surrounding real estate transactions. Yet he went onto state that over 90% of his consultations are providing counsel to Realtors in their execution of a short sale transaction.

WAGLE's visit to Eureka was a valuable opportunity for Realtor's and distressed homeowners. Although not as hard hit as many areas of California it is still important for Eureka, Arcata, Fortuna and McKinleyville area homeowners to benefit from Realtor's informed in the unique aspects of distressed home sales. 

I agree, and that is why I vigorously pursue every opportunity to learn the most up to date information around short sales. A distressed homeowners financial future is an important responsibility.

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 CA Department of Real Estate #01313330