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Bruce Clark Receives Short Sales and Foreclosure Resource Certification
Bruce Clark with Surterre Properties has earned the nationally recognized Short Sales and Foreclosure Resource (SFR) certification. The National Association of REALTORS® (NAR) offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.
According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many real estate professionals, short sales and foreclosures are the new "traditional" transaction and demand increased education and awareness of the ramifications of working on distressed property transactions. REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.
To find out more about working with us, call 949-285-1207. We can also be reached via Email.
Our mailing address:
Bruce Clark
C/O Surterre Properties
1400 Newport Center Dr., Suite 100
Newport Beach, California 92660
USA
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As of April, 2011, over 17.3% of Orange County homeowners are 'underwater' on their home: their loan balance(s) are greater than the value of their home. The Clark Group works with many homeowners on reviewing their options: with so many Orange County homeowners owing more on their home than it is currently valued at, we find that timely, accurate information is most important so that one can make an informed decision. Unfortuneately, for many, their choices become limited by the banks' lack of progress of a loan modification or principal reduction request - and the banks have begun foreclosure proceedings.
(Click here for a chart showing the California Foreclosure Process.)
There are many options available - over a dozen - but not every option may be right for you. We are very experienced at working with Orange County homeowners in distress. If you have missed, or anticipate missing, mortgage payments, we can help. Call us at 949-285-1207: all information will be held in the strictest of confidence.
Not able to attend one of our workshops? Call us toll free at 877-968-4675, 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, or modify a home loan. 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: |
NEW from the Clark Group:We have put together a brochure that explains the foreclosure process: items addressed include timelines in a foreclosure, explanations of what a Notice of Default (NOD) and Notice Of Trustee Sale (NOTS) are, and much more. Click here to download this FREE report in PDF format. We also offer a FREE 13-page brochure that provides much-needed resources in both the selling of ones home when in a distressed situation and what questions need to be addressed before making an offer on a home in short sale status (Four R's of Short Sales). Included is a a checklist for homeowners about what to consider before pursuing a short sale, tax ramifications of a short sale, what is entailed in purchasing a short sale and much more. (For basic information about selling a home in a short sale, click here.) To request your FREE copy, or to speak with us directly about your situation, please call us at 949-285-1207 or click here to submit a request for information, and we will reply as quickly as possible. All communication is held in the strictest of confidence. |
Selling a Distressed Property:We are very versed in helping a homeowner through the short sale process. Our team of real estate, legal, and tax professionals has been involved in assisting homeowners both sell and buy homes that are in a distressed situation for many years, so the current state of the home market is not something we were unprepared for. To find out more about working with us, please either call us at 949-285-1207 or request information here.. All communication is held in the strictest of confidence. |
In Foreclosure: there is help:More than 40% of all homes for sale in Orange County, California as of October 2010 are in a distressed situation: most are in the process of being foreclosed on and have receieved a Notice Of Default (NOD) and, for those that have been in a NOD status for over 90 days, have also had a Notice Of Sale (Trustee Sale Notice) filed against them. |
| If you, or anyone you know, have questions about the real estate or mortgage markets, or are experiencing issues with regard to your mortgage, we can help. Call us at 949-285-1207. All information is held in the strictest of confidence. If you are in foreclosure, we suggest your first call should be to your lender to inquire as to the availability of any loan workout programs. This could involve a modification of the loan, a loan forbearance, or even a reduction in the principal amount owed. If your lender does not any of those programs in place, or you don't qualify, we suggest your second call should be to the Homeownership Preservation Foundation at l-888-995-HOPE. They are an independent nonprofit that provides HUD-approved counselors dedicated to helping homeowners. Their services are free of charge. |
| To find out more about avoiding foreclosure, the U.S. Department of Housing and Urban Development (HUD), offers some very good advice. One will also find information about The HOPE for Homeowners program that will refinance mortgages for borrowers who are having difficulty making their payments, but can afford a new loan insured by HUD's Federal Housing Administration (FHA). Call 1-800-225-5342 for more information. |
| There are many programs being introduced by the government to help those in distress. On November 30, 2009, the U.S. Treasury Department released forms and guidelines for the Home Affordable Foreclosure Alternatives Program (HAFA), which is part of the Home Affordable Modification Program (HAMP). For a list of servicers participating in HAMP, visit MakingHomeAffordable.gov.. |
| For Orange County, California homeowners, there are three more resources available. Click here for more information. |
| If you would like to speak with us about your situation, please call 949-285-1207. All correspondence will be held in the strictest of confidence. |
FREE Short Sale & Foreclosure Search:Find one of hundreds of homes for sale in Orange County that are in a distressed situation, including Irvine foreclosures, short sale, REO, and auction properties, and Newport Coast bank-owned homes. To find any Orange County REO, short sale or foreclosure, click here. |
Huge Amount Of New Information Being Added:We are adding content daily to keep up with the ever-changing economic, mortgage and real estate markets. From offering a large number of free downloadable articles, to providing free informational printed material, our goal is to provide the best in accurante and timely information. We offer many free newsletters, and encourage you to sign up so you can be made aware when something you find of interest occurs. |
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