The Picket Fence

Local Agent Provides Resource on Foreclosure Alternatives, Short Sales

TheDanielsTeam Blog — Thu, 21 Oct 2010 22:41:00 +0000

FOR IMMEDIATE RELEASE For more information, please contact:
Carol Succarotte Daniels
302-684-5904
Carol-thedanielsteam@comcast.net

Local Agent Provides Resource on Foreclosure Alternatives, Short Sales

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

Milton, Delaware – 10/20/2010 – Local CDPE-designated agent, Carol Succarotte Daniels of Re/Max Associates, has released an informational report comparing the consequences of a short sale and foreclosure.

The report can be found at http://hostedcdpe.com/CarolHelpingYou 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,” Daniels 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,” Daniels said. “My hope is to inform the community that there are legal, dignified alternatives to foreclosure.”

The CDPE designation provides real estate agents with the tools and knowledge needed to efficiently, ethically and effectively pursue foreclosure alternatives, specifically short sales. In addition to their initial training, CDPE-designated agents are connected to a network of professionals via the Distressed Property Institute, allowing them to remain regularly updated on the complex and quickly changing real estate market.

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

TheDanielsTeam Blog — Thu, 15 Jul 2010 00:15:02 +0000

If you or someone you know are facing foreclosure, we can help! PLEASE read the information below which outlines 10 options that are available to homeowners who are facing potential foreclosure.
Alternatives to Foreclosure
You may be facing foreclosure…so what are your options?!? Try to look at the situation more from a financial standpoint rather than an emotional standpoint. This way you can more successfully analyze which option might best suit your needs and desires to move you towards resolving your financial difficulty. One very important thing to remember: Time is of the essence. Take time to think through your situation and make a decision. Then, take action right away so you have enough time to complete the solution you choose.

Options When Facing Foreclosure
1. Do Nothing – If a homeowner does nothing, they most likely will lose their home at foreclosure auction. Loan applications generally ask if the applicant has ever been foreclosed upon. Credit reports also disclose this damaging information. Not the best option.

2. Payoff/Refinance – Completely paying off the entire loan amount plus any default amount and fees. Usually this is accomplished through a refinance of the debt. New debt is at a normally higher interest rate and there may be a prepayment penalty because of the recent default. With this option, there should be equity in the home.

3. Reinstatement- Pay the entire default amount plus interest, attorney fees, late fees, taxes, missed payments and fees.

4. Loan Modification – Utilizing the existing mortgage company to refinance the debt or extend the terms of the loan. This may allow the homeowner to catch up at a more affordable level. To qualify, you must prove to the lender you have fixed the problem that caused the late payment.

5. Forbearance – Lender may be able to arrange a repayment plan based on the homeowner’s financial situation. The lender may even be able to provide a temporary payment reduction or suspension of payments. Information will be required from the lender to show that you are able to meet the new payment plan requirements.

6. Partial Claim – A loan from the lender for a 2nd loan to include back payments, costs and fees.

7. Deed in Lieu of Foreclosure – Give the property back to the bank instead of the bank foreclosing. Banks generally require the home be well maintained, all mortgage payment and taxes must be current. Most loan applications ask if this has ever happened.

8. Bankruptcy – This option can liquidate debt and/or allow more time. I can refer you to a qualified bankruptcy attorney.
–Chapter 7 (Liquidation) To completely settle personal debt.
–Chapter 13 (Wage Earner Plan) Payments are made toward a plan to pay off debts in 3-5 years.
–Chapter 11 (Business Reorganization) A business debt solution.

9. Sale – If the property has equity (money left over after all loans and monetary encumbrances are paid). The homeowner may sell the home without lender approval through a conventional home sale. In this case, the homeowner will get cash from the sale.

10. Short Sale – Also known as a pre-foreclosure sale, can be negotiated with your lender by your Real Estate Professional if what is owed is MORE than the property’s value. You receive NO MONEY.

If you would like to discuss this further, do not hesitate to contact Carol for a confidential meeting.

Home Buyer Seminar Schedule

TheDanielsTeam Blog — Tue, 13 Jul 2010 18:50:03 +0000

July 10th- First Time Home Buyer Seminar – Saturday 10:00 AM till Noon - Sheraton Hotel – Dover, Delaware – Call 888-809-9491 ext 101 to register – ask for Carol Daniels or send an e-mail to caroldaniels@comcast.net

July 24th - First Time Home Buyer Seminar – Saturday 10:00 AM till Noon and again from 1:00 PM till 3:00 PM – Christiana Hilton Hotel – Newark, Delaware – Call 888-809-9491 ext 101 to register – ask for Carol Daniels or send an e-mail to caroldaniels@comcast.net

August 21st - First Time Home Buyer Seminar – Saturday 10:00 AM till Noon and again from 1:00 PM till 3:00 PM – Christiana Hilton Hotel – Newark, Delaware –Call 888-809-9491 ext 101 to register – ask for Carol Daniels or send an e-mail to caroldaniels@comcast.net

September 25th – First Time Home Buyer Seminar – Saturday 10:00 AM till Noon and again from 1:00 PM till 3:00 PM – Christiana Hilton Hotel – Newark, Delaware –October 23rd - First Time Home Buyer Seminar – Saturday 10:00 AM till Noon and again from 1:00 PM till 3:00 PM – Christiana Hilton Hotel – Newark, Delaware – Call 888-809-9491 ext 101 to register – ask for Carol Daniels or send an e-mail to caroldaniels@comcast.net

October 23rd - First Time Home Buyer Seminar – Saturday 10:00 AM till Noon and again from 1:00 PM till 3:00 PM – Christiana Hilton Hotel – Newark, Delaware – Call 888-809-9491 ext 101 to register – ask for Carol Daniels or send an e-mail to caroldaniels@comcast.net

There is absolutely nobody like Carol and Joe.

TheDanielsTeam Blog — Tue, 13 Jul 2010 16:34:28 +0000

There is absolutely nobody like Carol and Joe. My Mom had Alzheimer’s Disease and I was completely on my own in dealing with it, plus I worked full time. Mom’s house had to be sold. I was at my wit’s end, literally went to sleep crying every night. There were not enough hours in the day to do what I had to do, just trying to watch Mom was a full time job and the stress and misery of putting her in a nursing home and trying not to leave her there alone was really getting to me. Two sick dogs at home and as i said, working full time. If not for Carol and Joe, I truly would have lost it completely. They not only sold Mom’s house with absolutely no involvement on my part but they cleaned her entire house out from top to bottom so the best price could be had. I will never, as long as I live, forget their kindnesses to us. I would never ever do business with anybody else as long as Carol and Joe are around!

from….Karen Jones, Bear De