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

If your mortgage is owned by Freddie Mac or Fannie Mae, you need to know about their Home Affordable Refinance Program (HARP). Administered by Freddie Mac and Fannie Mae homeowners can refinance to a new loan and lock in at today’s lower fixed interest rates. And their may also be a principal reduction.

To qualify, you need to be a homeowner who is current on your loan payments, and your loan balance is 80% to 125% of your property’s current value. A majority of home owners who purchased in the past 5 years will meet this requirement.

This refinance program was ready to expire June 30, 2011 and has recently been extended one year thru June 30, 2012.

Now you won’t know Freddie or Fannie is your lender by who you’re sending mortgage payment to every month. The Wells Fargo’s, Bank of America’s, Chase’s, etc, brand name lenders may just be “servicing” the loan on behalf of Freddie or Fannie. To find out if you have a Freddie Mac loan, visit www.freddiemac.com. For a Fannie Mae loan visit www.fanniemae.com.

HARP is intended to pull borrowers “above water” and help them get out from under plummeting property values and/or increasing interest rates. Nationally 621,803 homeowners have taken advantage of this program. Yet this represents only 10% of annual home sales nationally so it’s clear many homeowners are not aware of this program. If you have questions, both Freddie and Fannie’s websites have excellent examples, one of which may fit your scenario. Additional questions should be directed to your favored Eureka area loan officer or mortgage broker who knows how to speak HARP.

In a recent study, the Chicago Booth/Kellogg School Financial Trust Index found that a full 36% of Americans would consider “strategic default”—another term for walking away from your mortgage—if they were underwater (owed more on their home than what it was worth).

Now that more than one in four American homeowners is “underwater,” I feel that it’s important for the community to know the truth about strategic default.

The truth is the foreclosure process carries with it credit issues, current and future employment challenges, issues with security clearance and possible debt collections.

That’s why it is vital to explain the 3 reasons why the term “strategic default” is misleading:

1. There’s nothing strategic about defaulting on purpose, especially when you have options like short sales, mortgage modifications, and refinance (just to name a few) that may keep you from foreclosure.
2. The waiting periods to apply for a new mortgage loan are at least five years less in a short sale vs. a foreclosure.
3. A foreclosure will show up on your credit report every time you apply for a home loan, car loan, new job, etc., and will affect your financial situation for many years to come.

If you are underwater and can no longer afford your mortgage payments, you need to create a genuine strategy to avoid foreclosure, helping to provide stability for you and our community.

If you have any questions about what steps you or someone you care about should take next, contact me today!

IMPORTANT GOVERNMENT DISCLOSURE: You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you will not have to pay us for our services. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.

While major lenders examine foreclosure and eviction practices, Dean Kessler offers local homeowners an understanding of the alternatives to foreclosure, including short sales.

Eureka, CA – 11/10/2010 – As Ally Financial, Bank of America and JPMorgan Chase review their foreclosure processes across the country, CDPE-designated agent, Dean Kessler of The Kessler Team, helps local homeowners understand alternatives to their distressed situations.

“There is a common misconception among homeowners that the so-called foreclosure freezes translate into a ‘get-out-of-my-mortgage-free’ card. This simply isn’t so,” Kessler said. “It is vital for homeowners facing foreclosure to understand that there are other, more beneficial options, including short sales.”

A short sale occurs when the lien holder accepts the sale price of a property that is less than the borrower’s mortgage balance. Short sales have become an increasingly utilized alternative to foreclosure, growing 126.5 percent in the past year alone, according to the Federal Housing Finance Agency. Lender Processing Services (LPS) also estimates that more than seven million mortgages are either delinquent or in the foreclosure process.

Starting in September, major lenders initially began freezing foreclosure procedures in the 23 states requiring a judicial review. Bank of America and Ally have since resumed foreclosures in these states, continuing to review their processes, and JPMorgan has yet to lift its temporary suspension.

“While some of these lenders have restarted their foreclosure process, homeowners remain generally uninformed of what this means to their individual situations,” Kessler said. “Homeowners facing financial hardships deserve to know the options available to them, and that lenders are willing to work toward alternatives to foreclosure.”

Last month I was working with a Eureka homeowner in financial distress who had attempted to modify their loan thru HAMP. Three months later they where declined for a HAMP modification because a mathematical equation the lender used had determined it would be better for the lender to foreclose then to modify the loan. The lender then offered an “internal” modification, but only if the homeowners would pay an extra $80,000 on the loan if in the future they paid off the loan or sold the house. My clients declined and we successfully pursued a “short sale”. It was a very emotional decision, but financially it was there best option.

As a side note, the lender also found a reason to decline these homeowners for participation in the governments Home Affordable Foreclosure Alternative (HAFA). If we had been successful in a short sale under HAFA, the lender would have had to offer the borrowers $3,000 relocation assistance.

Not all lenders are as devious as this lender was, but this experience was an example of how some lenders tend to manipulate or just completely ignore rescue programs meant to help distressed homeowners and lenders. My counsel remains for distressed homeowners to be proactive with their lender and be realistic about their options.

The Washington Post recently reported that “troubled homeowners who receive housing counseling are 60% more likely to avoid foreclosure and have their mortgage payments lowered significantly than borrowers who navigate the process themselves.” I can help homeowners facilitate the process of loan modification and discuss other alternatives to foreclosure if a modification is not an option.

As a CDPE, I feel it’s my duty to help anyone I can during these hard times. If you would like to know more about mortgage modifications and whether or not you might qualify, please feel free to contact me.

Local Agent Provides Resource on Foreclosure Alternatives, Short Sales

For homeowners struggling with mortgage payments, website explains differences between foreclosure and short sales.

Eureka, CA – 15 October 2010 – Local CDPE-designated agent, Dean Kessler of The Kessler Team, has released an informational report comparing the consequences of a short sale and foreclosure.

The report can be found at www.EurekaForeclosureHelp.com and provides a thorough explanation of how a short sale may potentially improve a homeowner’s future financial stability.

“Considering how damaging foreclosure can be for the homeowner and the surrounding community, it is important that everyone knows all of the alternatives available,” Kessler said. “This report is the latest addition to my website, which gives distressed homeowners a way to inform themselves on their best options.”

Currently, one in seven mortgages is in some stage of delinquency. Once a mortgage payment has been missed, the lender has the ability to begin the foreclosure process. A short sale can potentially minimize the damage to one’s future loan eligibility, credit score, employment, security clearance and more.

“We often see homeowners enter the foreclosure process without any visible means of professional guidance,” Kessler said. “My hope is to inform the Eureka area community that there are legal, dignified alternatives to foreclosure.”

In response to community needs, new website educates struggling homeowners on options to foreclosure. 

Eureka, CA –July 22, 2010 – Local real estate agent and Certified Distressed Property Expert^®, Dean Kessler of The Kessler Real Estate Team, responded to new mortgage delinquency numbers by creating a new information website for Humboldt County-area homeowners facing financial hardships. Www.eurekaforeclosurehelp.com contains vital facts about the options available to financially distressed homeowners. 

“With more than 14 percent of mortgages in default status, there are a significant number of homeowners facing foreclosure,” Kessler said. “When faced with the possibility of foreclosure, I’ve seen too many homeowners make poor choices, even walking away from their homes without calling their lender or a real estate agent. By offering free information on more beneficial options, I know I can help our community’s homeowners.”

The Mortgage Bankers Association’s First-Quarter 2010 National Delinquency Survey announced that more than 14 percent of mortgage loans are not current on payments. More specifically, 10 percent of prime loans and more than 40 percent of subprime loans are delinquent. 

“Whatever their best option is, the most important thing distressed homeowners can do is educate themselves before making a decision,” Kessler said. 

www.eurekaforeclosurehelp.com acts as a central location for information on the issues and options for struggling homeowners, putting all the necessary information in one, easy-to-use location. The information and materials located on the site are regularly updated to reflect market changes, trends, new lender requirements and industry updates.

I love when the TV cameras focus in on the cyclists faces as they dance on their bike pedals flying up steep mountain roads cresting Alpine mountain passes. I focus in on their facial intensity as they command their body and spirit thru excruciating throes of fatigue and pain. It reminds me of the power I have within me of mental focus. Do I know my goals and have I mapped a road of achievement. And will these roads sometimes be steep with an oaccasional Alpine pass to conquer. If there isn't an occasional Alpine pass, maybe the goals aren't lofty enough!  

Just a couple more days of the Tour left to watch. And on July 26th, I get to sleep in late.

BACK ON THE MARKET - 3089 18th Street, Eureka - Cute ranch home offers great location, privacy and mature landscaping. Step into gated courtyard, enjoy the sunny spots. Rear yard has patio area with sliding doors from dining room & master bedroom. Lush shrubs and majestic maples add to the serenity. Inside find vaulted ceilings, wood stove, skylights, tile entry & open kitchen with island. Current Price $250,000

For more information on these two great properties email kristi@thekesslerteam.com or call 707-601-5704.

Accessible through www.EurekaForeclosureHelp.com, these educational materials clearly explain what a homeowner’s options are when faced with an unaffordable mortgage, as well as the benefits of each option. 

One option highlighted in the website is the Home Affordable Foreclosure Alternatives Program, or HAFA, which offers eligible homeowners $3,000 to pursue a short sale or deed-in-lieu, two alternatives to foreclosure. 

“We often find that homeowners in a difficult financial situation will hesitate to directly contact a professional for help,” KESSLER said. “My website offers a way to learn about what options are available so anyone can empower themselves with the necessary knowledge and then contact me to help pursue their best options.” 

The latest numbers on mortgage delinquency show that approximately one in every seven mortgages is in some stage of delinquency. While they might not be immediately foreclosed upon, these homeowners become more at risk of foreclosure the longer they wait to do something about their missed mortgage payments. 

“Many of these distressed homeowners bought their homes in a financially responsible manner,” KESSLER said. “Unfortunately, these people have had their finances turned upside-down over the past few years. Now, they must make their mortgage payments with constricting incomes.”

The CDPE designation KESSLER has acquired provides real estate professionals with specific understanding of the complex issues confronting the real estate industry. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing financial hardship in today’s market. 

For more information about the CDPE Designation, visit www.cdpe.com.

I just wanted to make sure you see some of the great homes that have recently come on the market. If you would like to get more information on any of these properties please call (707) 601-5704 or email Kristi@thekesslerteam.com.

ID# 231201 – EUREKA, 2BD/1BA - $289,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231201 

ID# 231199 –FORTUNA, 3BD/2.5BA - $260,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231199 

ID# 231211 – ARCATA, 3BD/2BA - $293,600

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231211

ID# 231206 – EUREKA, 2BD/1BA - $235,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231206 

ID# 231196 – EUREKA, 3BD/1BA - $189,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231196 

ID# 231191 – EUREKA, 4BD/1BA - $245,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231191

ID# 231174 – EUREKA, 4BD/1.5BA - $242,500

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231174

ID# 231179 – HUMBOLDT HILL, 3BD/1BA - $224,900

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231179 

ID# 231167 – ARCATA, 3BD/1BA - $265,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231167

ID# 231180 – EUREKA, 3BD/1.25BA - $269,900

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231180

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.

DEAN KESSLER attended national conference of short sale specialists focusing on the most effective ways to help homeowners avoid foreclosure.

EUREKA, CA – MAY 22, 2010 – DEAN KESSLER of THE KESSLER REAL ESTATE TEAM joined nearly 700 real estate agents at CDPE Momentum 2010, the national convention of professionals with the Certified Distressed Property Expert^®designation. Attendees benefited from presentations by leaders from Bank of America, Wells Fargo, Prospect Mortgage, Fidelity National Title and RealtyTrac, who provided industry updates and strategies for helping distressed homeowners.

“I have committed myself to making a difference in the lives of as many distressed homeowners as I can,” KESSLER said. “CDPE Momentum has given me new tools, networks and insight to help even more members of my community.”

The convention provided agents with three-days of intensive interaction among industry professionals, sharing best practices for short sales and other foreclosure avoidance solutions. A short sale occurs when the lender accepts the sale price of a home, even if that amount is less than (“short of”) what is owed on the mortgage. The most recent Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions found that short sales represented 17.9 percent of distressed property transactions.

“Short sales can be a positive solution for homeowners facing financial hardship, with a lesser impact on credit scores than foreclosure,” KESSLER said. “However, these transactions can be difficult, and agents need to have training and stay up-to-date on the industry. Events like CDPE Momentum keep me on top of market developments.”

Agents with the CDPE designation have undergone extensive training in foreclosure-avoidance options for homeowners facing financial hardship, particularly short sales. With more than 22,500 members added since its inception in 2008, CDPE is the fastest-growing designation in real estate industry history.

About the CDPE Designation

The CDPE Designation provides real estate industry professionals with detailed information on how to engage with and assist homeowners in distress. The CDPE designation has been endorsed by RE/MAX International, Keller Williams Realty and other major U.S. brokerages, as well as industry icons such as: Brian Buffini, founder of Buffini & Company; Howard Brinton, founder of STAR POWER^®Systems; Allen Chiang, Chairman of the Asian Real Estate Association of America (AREAA); Tino Diaz, Chairman and President of the National Association of Hispanic Real Estate Professionals (NAHREP); Dave Liniger, chairman and co-founder of RE/MAX; and Joe Stumpf, founder and national spokesperson of By Referral Only^®.

For more information about the Distressed Property Institute and the CDPE Designation, visit www.cdpe.com.

              First time homebuyers are still out in force and making home buying decisions. “Why is this, Dean” you ask? The easy answer are loan interest rates remain below 5% and home prices are very affordable. With this combination, homebuyer mortgage payments rival a rent payment.

The stories of loan money not being available for home buying is simply untrue. Sure, lenders are asking for reams of documents from the buyer, scrutinizing every piece of paper and making the loan approval process maddening with requests for the absurd. How does a PG&E bill reflect on a buyer’s loan qualifications? Don’t know, yet I am glad to hear lenders being much more cautions with their lending practices. For too long it was simply too easy to get loans.

  Call me with questions/comments.

We just wanted to make sure you see some of the great homes that have recently come on the market. If you would like to get more information on any of these properties please call (707) 441-1765 or email Kristi@thekesslerteam.com.

ID# 230948 – EUREKA, 3BD/1BA - $219,900

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=230948

ID# 230950 - FORTUNA, 2BD/1BA - $214,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=230950

ID# 230952 - ARCATA, 3BD/2BA - $239,900

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=230952

ID# 230898 – HUMBOLDT HILL, 3BD/2BA - $295,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=230898

ID# 230869 – EUREKA, 3BD/2BA - $224,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=230869

ID#230855 – FORTUNA, 2BD/1BA - $199,999

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=230855

ID# 230921 – EUREKA, 3BD/1BA - $255,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=230921

ID# 230937 – CARLOTTA, 3BD/1BA - $225,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=230937

ID# 230903 – MCKINLEYVILLE, 3BD/1BA - $239,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=230903

ID# 230932 – EUREKA, 2BD/1BA - $225,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=230932

There is to much information out there to take in about “The Real Estate Market”. Keep in mind that the news source may be of a national perspective or a California perspective. It might even be a Las Vegas perspective.

My point is this, our real estate market is a local phenomenon. What’s read in newspaper, heard on radio and seen on TV is  likely an “average” of a national level. Ask a top agent in the community (I am one of them) to gain your best perspective on our local real estate market.

The GOOD News; Interest rates remain below 5%. Sales remain strong in the $150k to $300k price range.

The BAD News: Homes priced above $450k in Humboldt County sit on the market for sale with little activity and few sales, these Sellers must be patient.

The UGLY News: There are a lot, repeat a lot, of vacant bank owned homes sitting out there waiting to come on the market. If even 3 of these discount-priced homes come on our market, well that’s 10% of the market—it drives the other sellers prices down.

Call me with questions/comments.

Take action and find out about your eligibility by filling out the free surveys here. These surveys will give you quick answers about what your options are, and what steps you need to take next. You'll also find other valuable information on foreclosure avoidance options to help you make the best decision for you circumstances.

If you need more immediate attention, please don't hesitate to contact me. I'm always here to assist you.  I am a trained Certified Distressed Property Expert (CDPE), trained in helping families in distress avoid foreclosure.

www.EurekaForeclosureHelp.com