Real Estate Information Archive

Our Country has been faced with an epidemic and it’s called Foreclosures.  There have been 1.65 Million properties that have received foreclosure filings in the first half of this year putting our Nation on pace to see more than 3 Million foreclosures filings this year.  It does not have to be this way.  There is a solution, it’s called Short Sales.  A Short Sale occurs when a negotiation is entered into with the homeowner’s mortgage company or companies to accept less than the full balance of the loan at closing.  A buyer closes on the property and the property is “sold short.”  

 Why would a bank short sale a home instead of foreclosing?  Banks absolutely do not want foreclosure on homes.  They are not in the home selling business nor are they in the property management business.  Banks make money when they loan money.  Bottom line is they lose less money if the seller short sales the home.  If the homeowner short sales their home the bank does not have to take possession, title, have holding cost, pay Attorney fees for the foreclosure, pay water and electric bills etc. 

We have made it our goal to help as many people as possible.  We stop the foreclosure and negotiate with mortgage companies on the sellers behalf.  I am a Certified Distress Property Expert.  This means that I have the extensive knowledge and experience as a real estate broker to educate homeowners facing hardship and successfully stop foreclosures. 

 If the bank foreclosures on a home, the homeowner is left owning the “deficient amount” this is the difference in what the house sells for and what was owed to the bank.  We stop the foreclosure and work for the homeowner to get the deficient amount waived.   The mortgage company pays for our service thus preventing the foreclosure and preventing excessive monetary loss and deficiencies.  

If you know anyone that has been faced with a hardship, please call or email with their name and number.  Your information will be kept totally confidential.  Examples of hardships are death, divorce, loss of job or business, illness to themselves or family member, Military service and Incarceration.  This is a time when homeowners facing tough mortgage situation are finding it difficult to get sound advice.  For more information log onto www.LouisianaForeclosureRelief.com  or call 985-626-1313. 

Why Short Sale and not just file Bankruptcy?

So many people who are behind on their mortgages are considering bankruptcy.  The reality is that the bankruptcy delays the foreclosure; it does not stop the foreclosure.  If a person files bankruptcy the trustee assigned to the case orders an appraisal on the home.  If the seller cannot bring the payments current and there is equity in the home the trustee assigned to the case will sell the property to pay the creditors and the bank with the equity from the sale.  

If there is no equity the judge will allow the seller to stay in the home and the bank will proceed with the foreclosure.  The seller still has the right at that point to sell the home short of the mortgage balance, thus called a short sale.  The seller will have a bankruptcy on their credit but not a foreclosure.  This may sound troublesome, frustrating and down right confusing but that is why you hire me to work with the bank on your behalf.  Let me know if I can help. 

743 Avenue Louis Quatroze - Covington, LA

$282,900 - $91 per square foot!!

4 bdrm/ 2.5 bath home located in Covington's prestigious Versailles Subdivision.  Grand foyer entrance, formal living room, formal dining room, huge den/ family room plus bonus playroom.  Open eat-in kitchen, stainless steel appliances, maple countertops and tile floors.  Large master suite located on the lower level with vaulted ceilings, huge walk in closet, garden tub, separate shower and double vanities.

Visit our listings page for more details!