KELLER WILLIAMS-EAGLE REALTY 700 NE 90th Street Miami, Fl 33138  (REO) REAL ESTATE OWNED SPECIALIST BY AMERICAN REAL ESTATE UNIVERSITY MIAMI FL .SHORT SALE CERTIFICATION

Francisco J Becerra-Paco
   Realtor Associate MBA,GRI  
cell:315-318-5606

Member National Association of Hispanic Real Estate Professional
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Is a Florida licensed Real Estate agent and is competent only to provide information of a factual nature concerning
 properties for sale in the State of Florida. Nothing in this document or website is intended as investment, legal, or accounting advice, nor should the information contained herein be construed or understood as such.
Only professionals licensed as investment counselors, accountants, and attorneys are qualified
to provide counsel with regard to these other areas.

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UNDERSTANDING FORECLOSURE , SHORT SALE AND BANKRUPTCY I am not an Attorney, I am not a CPA, I am not a Processor... I AM A REALTOR!!! This is an emotionally charged time for people facing foreclosure...  You are not alone .. Let me help you or if you know of someone who may be facing foreclosure,please let them know that I have a program that can help.Time is of the essence in these situation.  In  most states, when you buy a home there are actually two parties on the buying side: you (the mortgagor) and the lender (the mortgagee). You own the home, but the mortgagee holds a lien on the property for as long as the mortgage has an outstanding balance. The lien gives the lender the right to assume ownership of the property should you fall behind on payments. That process by which the lender assumes ownership is called foreclosure. All other states use a deed of trust, which serves the same purpose as a mortgage but actually involves three parties: you,the lender (the beneficiary), and a third party (the trustee) who holds the temporary title on the home until the full balance is paid. In these states, the foreclosure process involves the trustee selling your home when you become delinquent. A key difference between mortgages and deeds of trust is in the foreclosure process. With a mortgage, the lender must go through the court system to foreclose on your home. Not so with a deed of trust. The trustee must first fulfill certain requirements, but is then free to sell your home without going through the court system, leading to a much faster foreclosure. Absolutely the first step to avoid foreclosure is to contact the lender and let them know your situation. In many cases, they can work with you to temporarily modify payment terms until your situation is resolved. Never, ever ignore late notices, letters or calls from your lender. They would much prefer to work together with you to resolve the situation, but will not hesitate to begin foreclosure proceedings if it appears that you are unwilling to work with them to avoid foreclosure. If you're still current on your payments, or not too far behind, refinancing may be a viable option for you. Refinancing will pay off your current mortgage and in many cases lower your monthly payment at the same time. It can be the most straightforward method to avoid foreclosure. Sell Your House This may be the toughest route to stopping foreclosure, particularly if you still need somewhere to live, but it may be the only way to stay out of trouble and prevent a black mark from appearing on your credit record. If you need to sell fast, there are home buyers in your area who will allow you to do that. They can close in 10 days or less, or on whatever timetable fits your schedule, and allow you to walk away with cash at closing. Be very, very careful, though. There is no shortage of people who will use this opportunity to make a profit for themselves at your expense. To keep yourself from falling victim to these predators, be sure to read "We Buy Houses" Scams - How to Spot Them and How to Avoid Them. Protecting Your Credit Ultimately, protecting your credit must be your number one goal. Your credit report will be with you for the rest of your life, and having a foreclosure noted on it will cause problems for many, many years down the road - problems that only time will erase. Take steps now to keep that from happening. It may be difficult in the short-term, but the long-term results far outweigh the alternative. When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales. The forgiven debt may taxable income for investment properties for primary resident may be forgiven but some companies want you to sign a promissory NOTE at 0% to be repaid.

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               Making Home Affordable
The Making Home Affordable program offers assistance to homeowners under the Homeowner Affordability and Stability Plan. Details on Fannie Mae's Home Affordable Refinance and Home Affordable Modification options are now available.
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