Home Affordability Foreclosure Alternative

Here is a simple video with some information on foreclosure alternatives. There is a time and place to prepare for worst, at that time is before it is simply too late.

I urge you to please contact me or anyone you trust with information pertaining to programs which you maybe eligible for BEFORE its too late and you no longer can take advantage.

This is NOT a strategic maneuver not should you be ashamed. This can mean the difference between a temporary relocation before your situation improves or a very long term recovery.

Please ask for help before it's too late.



Did you know you may be eligible for a $3,000 Moving Cost Assistance after a successful short sale?

Did you know you may be eligible for a waiver of deficiency judgement?


Robert Jarvis
Keller Williams Realty
773-572-2362
RobertJarvis@AnOpenHome.com

Wining with Foreclosures

Terms you should know:

1. Distressed Property: Th is term refers to all pre-foreclosure and foreclosed
property.

2. Notice of Default: Th e homeowner has missed one or more payments and
gets this letter saying the lender will foreclose. Th e time period from notice
of default to foreclosure is called pre-foreclosure.

3. Short Sale: Th e lender agrees to settle for less than the full amount due
on the homeowner’s mortgage. Th is may happen any time during the preforeclosure.

4. Foreclosure: Th e process by which the lender takes property from the
owner for failure to pay; also the term to describe the foreclosed property
itself (a foreclosure).

5. Auction: Foreclosed property is normally off ered at auction fi rst—auctions
are run either by local government (city or county) or by an auction
vendor.

6. Bank Owned or REO (real estate owned—a banking term): Foreclosed
property that is not sold at auction returns to the lender (bank). Th e lender
usually hires an asset manager who lists the property with an agent.